CAC says content creators must register, pay taxes

The Corporate Affairs Commission has urged social media content creators, Instagram users, and TikTok users with large followers to register their businesses with the commission in accordance with the Company and Allied Matters Act 2020.

This is coming amidst alleged plans by the Federal Inland Revenue Services to onboard media content and influencers into its tax system.

The Registrar General, CAC, Hussaini Magaji, made the call on Tuesday, when he was paid a courtesy visit by the Managing Director, Opay, Dauda Gotring, and his team in Abuja.

The visit from the Opay team was to ensure the regularisation of 300,000 agents and merchants with the commission.

This will expand the tax net, encourage businesses, and create more jobs for Nigerians.

Last week, the commission began the registration of two million small businesses in partnership with Moniepoint, a fintech company.

The CAC boss stated that social media and content creators are generating a lot of money without paying any form of tax to the Federal Government.

Magaji said, “Ignorance of the law is not an excuse. It is stated in the Company and 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 and you have a large followership and you are gaining or making money from it, you must register and that’s the provision of the law.
“And we are all out to enforce the provision of the law with its penalties.”

He added that the commission will soon begin compliance checks to ensure these businesses start paying their  taxes to the government.

He added, “This cannot go on, these groups of people are under mandate to register as a business considering the amount they make from the content creation. The government is all out to ensure every business in Nigeria, no matter what or how, is registered with the CAC.

“The commission is registering another batch of 300,000 business names from Opay.”

The CAC boss said the initiative is part of his target to register 20 million businesses in 2024 and 50 million jobs target for Nigerian youths.

On his part, the Opay MD noted that the idea behind Opay operations is to deliver banking services to the unbanked persons in the country.

“Opay is ready to partner with CAC to ensure these groups of people have their businesses registered, with their consent though,” he said.

Gotring said the Opay organisation is working to ensure that all companies no matter how little, as long as you operate as a business you should be registered with the CAC.

He added that since Opay handles, “these accounts they are working on sensitising the owners of the accounts so they can be registered with CAC.”


https://punchng.com/cac-says-content-creators-must-register-pay-taxes/

Nice 1

What kind of nonsense is this, which means politicians with large followers too must register their political name and pay taxes, which means all this foolish Tinubu online urgins with their local mentality will now contribute money for tax

Very funny.
The kind of policies these idi.ots spill out on daily basis just because they want to generate revenue is mind blowing. Very soon they'll be tasking dead bodies in their grave.

agulion:
What kind of nonsense is this, which means politicians with large followers too must register their political name and pay taxes, which means all this foolish Tinubu online urgins with their local mentality will now contribute money for tax

Gbamsolutely

As long as they are generating income, they must be taxed. That's normal. If they have any registered association, they can use that umbrella body to approach either the CAC or the court. Everything no be gra-gra.

Very good idea. Those singers and movie stars makes millions from YouTube and other social media. They must pay tax then the government should circulate the profit by increasing the minimum wage of employers in both the public and private sectors.

forgiveness:
Very good idea. Those singers and movie stars makes millions from YouTube and other social media. They must pay tax then the government should circulate the profit by increasing the minimum wage of employers in both the public and private sectors.

Did you just become a Nigerian yesterday?

Totally agree!

Anyone who earns and does not pay taxes is an enemy of the country. That is where you got to play your part, by being productive and paying your taxes.

The youth is still enduring the rubbish you fools are doing and the little they are using to manage themselves, you want to go and touch it.

Trouble dey sleep nyanga wan go wake am.

Tinubu is actually surrounded by people that don’t like him sha.

Make we dey watch

Politicians
Lawmakers
Actor/actress
Film makers
Musicians
NPFL Football players, coaches and Refs
Models
All this busicuit sellers in our area
Barbers
DJs
Hair dressers
All sorts of retailers
Block making guys
Those guys making windows on the street
Funiture making guys
Remote workers
and so on included.

Question - When was the last time Tinubu paid his taxes since he became the president?

Life no hard, na you never get updates

Try this daily 4days 1.4odds and thank me later

What is keeping me going, reason I don't care About this government.

Not not always e dey come ooo,but 98% accurate.
Do it yourself but if you can't Nd no chance to punt or you don't know how to,you can chat me up,but it's not free ,

Let's discuss

My contact is in my signature

CockPit:
Totally agree!

Anyone who earns and does not pay taxes is an enemy of the country. That is where you got to play your part, by being productive and paying your taxes.

For job wey Nigeria created for them abi?

ambale:


For job wey Nigeria created for them abi?

It does not matter, being a citizen and resident in a country means you are liable for taxes in that country. You have to pay for all the BENEFITS of the government.

The tax man go show una pepper...

Rehoboam no send anybody..

CockPit:


It does not matter, being a citizen and resident in a country means you are liable for taxes in that country. You have to pay for all the BENEFITS of the government.

And what is the benefit from government which Nigerians currently enjoy?

arantess:

And what is the benefit from government which Nigerians currently enjoy?

Good roads, Security, to maintain military and I can list a lot more if you want.

CockPit:


Good roads, Security, to maintain military and I can list a lot more if you want.

Be honest to yourself are we really enjoying those things you listed?

Ikpeyi:



Be honest to yourself are we really enjoying those things you listed?

I must be frank with you no!

I was only in Nigeria last year for two weeks in the past 12 years. But two wrongs do not make a right, if we have to hold the government accountable, we as citizens must do the right thing as well.

How many of this clueless politicians pay up taxes. The clueless Fg dey play seriously . The clueless Fg just want the Nigeria youths to breathe at all

CockPit:


Good roads, Security, to maintain military and I can list a lot more if you want.

which roads here, which security here, economy situation is at bad state. Just keep your clueless comments to yourself Abeg. Fg has failed woefully in its responsibility to the Nigeria people

press9jatv:
which roads here, which security here, economy situation is at bad state. Just keep your clueless comments to yourself Abeg. Fg has failed woefully in its responsibility to the Nigeria people

I know you are angry at the government because they have failed which is totally justifiable, If you don't pay your taxes, you are failing in your duty as a citizen and not qualified to criticize the government.

Following kinly

CockPit:


It does not matter, being a citizen and resident in a country means you are liable for taxes in that country. You have to pay for all the BENEFITS of the government.

What are the benefits of paying taxes?

We practically provide everything for ourselves and govt still wants to tax us to death

Let the government start fixing the country from the taxes they've gotten in time past and see people willingly come pay their tax

You can be looting the country as much as ours and you want still want to tax people just so you could have more to loot

CockPit:


I know you are angry at the government because they have failed which is totally justifiable, If you don't pay your taxes, you are failing in your duty as a citizen and not qualified to criticize the government.

there’s no citizen Nigeria that doesn’t paid taxes except if you are kids niiii. Upon all the taxes we have been paying to the Nigeria government, what have we achieved from them? No portable water, erratic power supply, poor education sector, poor health facilities, poor road infrastructures, poor human capital development, poor economic policies against Nigeria people. Bad security infrastructure.it’s very bad, the government in power is even making it worse for the tax payers .

That's the way to shut them down.

go and seat down first, too early for that. let’s people find a way to survive first. Stop behaving like you’re wicked

Wait first, focus on something else leave content creators alone for now i beg of you

CockPit:


Good roads, Security, to maintain military and I can list a lot more if you want.

e say security dey the country.....
you must be living in a fools paradise