President Bola Ahmed Tinubu has suspended the five percent Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products as done by former president Muhammadu Buhari.
This is part of four Executive Orders Tinubu signed into law on Thursday to curb arbitrary taxation policy in the country, This was contained in a discussion on Thursday between the Special Adviser, Special Duties, Communication, and Strategy, to the President, Dele Alake, and State House Correspondents during an interactive session.
The second Order involves the Customs, Excise Tariff (Variation) Amendment Order, 2023.
According to Alake, this has shifted the commencement date of the tax changes from March 27, 2023, to August 1, 2023, and is also in line with the National Tax Policy.
“Further to his commitment to creating a business-friendly environment, the President has ordered the suspension of the newly introduced Green Tax by way of Excise Tax on Single-Use Plastics, including plastic containers and bottles
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
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The economic crisis and hardship in Nigeria are parts of the discussion.
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