How September taxes will hit firms, consumers

GRAPHIC | CHRISPUS BARGORETT | NMG

The second round of new taxes introduced through the contentious Finance Act 2023 kicks in on Friday, whose impact will be felt across several industries including cement, steel, paper, suppliers, digital and creative economy, and entertainment.

From Friday, September 1, the sale of cryptocurrencies, content, music, ebooks, photos, documents, videos, logos, animations, illustrations and social media accounts, among other digital assets, will attract a 3.0 percent tax.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.