Nigerians will soon begin to pay a 12.5% tax on telecommunication services, as the Federal Government moves to apply a 5% inclusive excise duty on such services in Nigeria.
This was made known by the Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed in Abuja, at a stakeholders’ roundtable on the application of the excise duty on Telecommunications Services in Nigeria, organised by the Nigerian Communications Commission (NCC).
The implication of this is that the existing 7.5% Value Added Tax (VAT) on Telecom Services will be increased by 5%.
According to the Minister who was represented by the Assistant Chief Officer of the Ministry, Mr Frank Oshanipin, the Finance Act 2020 included a 5% excise fee that was never put into effect.
She said the delay in its implementation was a result of the Government’s engagement with stakeholders.
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August 2, 2022 at 4:55 am
The next time I read a blog, Hopefully it doesnt disappoint me as much as this particular one. After all, Yes, it was my choice to read, nonetheless I actually thought you would probably have something interesting to say. All I hear is a bunch of crying about something that you could possibly fix if you were not too busy looking for attention.