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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) says it welcomes the recent interventions by the Federal Government on some recent tax changes, but noted that the development is hurting businesses.
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.
(AFRICAN EXAMINER) - President Bola Tinubu on Thursday announced the reversal of some tax policies introduced by the ex-President Muhammadu Buhari administration. Special Adviser to the President, Mr. Dele Alake, while addressing State House Correspondents said that some of the tax policies are being implemented retroactively with their commencement dates. According to Alake, the President
July 6,2023. President Bola Ahmed Tinubu has signed four Executive Orders in fidelity to the pledge to put Nigerians at the centre of government policies and address business unfriendly fiscal policy measures and multiplicity of taxes. The executive orders include the suspension of the 5% excise tax on telecommunication services, as well as the excise |
In a bid to reduce arbitrary taxation policy in Nigeria, President Bola Ahmed Tinubu signed four Executive Orders into law today, Thursday, July 6, 2023.