Apple will on July 25, 2023, begin implementing changes to its prices or in-app purchases made through the App Store.
Three African markets which include Nigeria, Egypt, and Tanzania would be impacted by the price adjustments, including app producers and users.
The IT giant did not specify whether the adjustments would be upward or downward, but the fact that it cited the Value Added Tax and an increase in taxes in the impacted countries as the causes of the adjustments suggests that the prices will rise.
According to Apple, prices have been revised to account for recent modifications to the tax laws and currency exchange rates in the relevant nations.
It was observed that Egypt had enacted a 14% VAT, whereas Tanzania had implemented an 18% VAT with a 2% digital tax.
According to the 2021 Finance Act, all foreign firms doing business in Nigeria that provide local customers with digital services such applications, high-frequency trading, electronic data storage, and online advertising must pay a 6% tax on their earnings.
