Social media influencers and content creators must register and pay taxes – CAC

The Corporate Affairs Commission has urged social media content creators and influencers with significant followings to register their businesses in line with the Company and Allied Matters Act 2020. This is in response to reported plans by the Federal Inland Revenue Service to include media content and influencers in its tax system.

Hussaini Magaji, the Registrar General of the CAC, emphasized that social media and content creators are earning substantial income without paying taxes to the Federal Government. He stated that registration is mandatory for all businesses operating in Nigeria, including internet content creators with large followings who generate revenue.

Magaji stressed that enforcement measures, including penalties for non-compliance, will be implemented. Compliance checks will be conducted to ensure these businesses meet their tax obligations to the government. The government aims to ensure that every business in Nigeria, regardless of size or nature, is registered with the CAC.