Can the Nigerian System Adapt to Capture a New Economic Reality?

How do you tax a viral video? This is the question content creators in Nigeria have been asking since the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) declared their intention to register and regulate their activities under the Company and Allied Matters Act (CAMA) 2020. According to the CAC, its mandate is to enforce the CAMA 2020, which requires that any business, whether carried on by an individual or a company, must be registered with the commission. The CAC also contends that registering and taxing content creators will broaden the tax base, promote entrepreneurship, and generate more employment opportunities for Nigerians. However, the idea of taxing creativity does not sit well with many.

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