President Bola Tinubu has signed four executive orders, including the suspension of the 5% excise tax on communications services and the rise of excise duty on domestically manufactured goods.
The president’s special assistant on special tasks, communications, and strategy, Dele Alake, revealed, this to state house correspondents on Thursday.
The telecom tax was part of the new Fiscal Policy Measures and Tariff Amendments, which imposed five percent Excise Duty on Goods and Telecommunication Services for this and next year by the administration of President Bola Tinubu.
The charges, if implemented, would have resulted in a price hike for products and services and a further adverse impact on consumers.
Details to come later…
