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Play Bet and Pay Tax - FG Begins Taxing Gambling Players

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NAIJA NEWS: Play Bet and Pay Tax - FG Begins Taxing Gambling Players [New Naija News] » Naijacrawl
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In the quest to further augment the revenue of the government, the Nigeria’s tax agency, Federal Inland Revenue Service (FIRS) has announced that it has commenced the direct deduction and collection of taxes at transaction points from online gaming companies using the Sentinal National Payment Gateway and Electronic Solution.



This was made known in a statement by Johannes Oluwatobi Wojuola, the Special Assistant on Media & Communication to the Executive Chairman of the FIRS and made available to journalists on Wednesday.

According to the statement, the Executive Chairman of the Service, Muhammad Nami, while directing full compliance by the online gaming community, explained that the Sentinal National Payment Gateway is a transaction processing system that enables Integrated Payment Services Providers to deduct taxes at the points of transaction and immediately remit the tax deducted to the government's treasury.

The notice read, "The FIRS is automating the administration of tax on online gaming using Sentinal National Payment Gateway and Electronic Solution.

"Sentinal National Payment Gateway is a transaction processing system that enables Integrated Payment Service Providers to deduct taxes at transaction-points and remit the tax deducted directly to government's treasury.

The taxing rate will be varied in comparison with the amount placed for the bet.


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Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

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