Facebook is set to start sharing your information and business dealings with the Kenya Revenue Authority. This follows an update on its terms of engagements with users.
According to a report that appeared in the Business Daily on Thursday, Meta Platforms Inc, the company that owns Facebook, Instagram and WhatsApp, has updated its terms of service to allow this sharing of tax information and any materials that might be required by investigative bodies such as the police.
The newly updated terms will come into effect starting from January 3, 2023.
In the new terms, Meta has also cautioned that failure to pay the advertising account’s dues on time may result in legal action.
If a payment method fails or an account is past due, it will take additional steps to collect past due amounts including hiring a debt collection agency.
“You will pay all expenses associated with such collection, including reasonable legal fees. Past due amounts will accrue interest at 1.0 percent per month or the lawful maximum, whichever is less,” said Meta.
The social media giant added that it can use information about your interactions with ads and other commercial content, including monitoring one’s creditworthiness and categorizing clients as invoiced or non-invoiced.
Esther Muchemi: How to choose the bank that will help you grow your wealth
“Meta may classify clients as invoiced clients based on factors such as ad spend and creditworthiness. You understand that, from time to time, we run tests on our Self-serve Ad Interfaces and related systems, which may affect your use and experience thereof, including campaign performance,” it said in its updated terms of service.
“If you are making direct debit payments, you agree that we can charge you any amount that falls within the range that you agreed to upon sign-up. We will notify you in advance if any charge will exceed the agreed-upon range.”
