President Bola Tinubu has signed four Executive Orders one of which is the suspension of the five per cent Excise Tax on telecommunication services and the Excise Duties escalation on locally manufactured products. Among them is the The Finance Act (Effective Date Variation) Order, 2023, which defers the commencement date of the changes contained in the Act from 23rd May …

The Director General, Budget Office of the Federation, Mr Ben Akabueze has said that he is not aware of any suspension of the proposed five per cent excise duty on telecommunication companies. He said any attempt to suspend the tax would impact negatively on the execution of the 2023 budget and worsen the countries revenue problem. On Monday, the Minister …

The Federal Government has suspended the proposed five percent excise duty on telecommunications services. Announcing the suspension in Abuja on Monday, the Minister of Communications and Digital Economy, Prof Isa Pantami, said the decision was arrived at by stakeholders, asserting that the telecommunications sector already has challenges of multiple taxes. He spoke during the inaugural meeting of the Presidential Committee …

Telecommunication subscribers, under the aegis of the National Association of Telecoms Subscribers (NATCOMS), have vowed  to challenge the legitimacy of the proposed five per cent excise duty on telecoms services in court. According to them, the excise duty on telecom services, which would translate to an extra five per cent consumption tax on calls, SMS, data, and other telecom services, …