President Bola Tinubu has approved the suspension of five percent Excise Tax
on telecommunication services in Nigeria.
The President also approved the suspension of Excise Duties escalation on locally
manufactured products in the country.
Speaking with newsmen yesterday, in Abuja, Special Adviser to the President on
Special Duties, Communication and Strategy, Dele Alake, said the suspension were
parts of four Executive Orders signed by the President.
Alake said the decision was taken to reduce the suffering of Nigerians, especially in
the area of multiple taxation, as well as creating a friendlier environment for both
local and foreign businessmen.
(Cue In: Alake On Tax 1)
Among the Bills signed, include the Finance Act (Effective Date Variation)
Order, 2023, which has now deferred the commencement date of the changes
contained in the Act from May 23, to September 1, 2023.
Cue In: Alake On Tax 2)