By Munachimso Obienyi
The Federal Inland Revenue Service (FIRS) has stated that it has commenced the deduction of taxes at transaction points from Online Gaming Transactions using the Sentinal National Payment Gateway and Electronic Solution.
In a Public Notice signed by its Executive Chairman, Muhammad Nam, the Service while directing full compliance by the online gaming community, explained that the Sentinal National Payment Gateway was 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 FIRS is automating the administration of tax on online gaming using Sentinal National Payment Gateway and Electronic Solution”, the statement said.
