FIRS begins tax deduction on online betting

The Federal Inland Revenue Service says it has commenced the deduction of taxes on online betting and gaming operators at the points of transaction.

It said this was being done using the Sentinal National Payment Gateway and Electronic Solution.

According to the agency, all operators offering online gaming services in Nigeria are now compelled to connect to the Sentinal National Payment Gateway by December 31 so that the deducted tax can remit directly to the government’s treasury.
Executive Chairman of the FIRS  Muhammad Nami, disclosing this, urging full compliance by the online gaming community.

He explained 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.
A statement by the media aide to the FIRS chairman, Oluwatobi Wojuola, quoted the agency head as saying, “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 the government’s treasury.
“The deployment of Sentinal National Payment Gateway is expected to simplify tax compliance for companies engaged in online gaming activities.”