The Registrar General of Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, disclosed on February 13, that social media content creators,a Instagram users with larger followers & TikTok users will soon be forced to register as businesses so they can start paying taxes to the government.
The RG disclosed this during a visit by the managing director, Opay, Dauda Gotring & his team in Abuja, stating that the social media & content creators are generating a lot of money without paying any form of tax to the F.G
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Magaji said, “Ignorance of the law is not an excuse. It is stated in the Company & Allied Matters 2020 that for any business to take place in Nigeria, whether you are doing business with your name or another name, you must surrender your business for registration.
If you are a content creator on the internet & you have a large followership & you are gaining or making money from it, you must register & that’s the provision of the law.