President Bola Ahmed Tinubu has enacted four Executive Orders, including the suspension of the 5% Excise Tax on telecommunication services and the increase in Excise Duties on domestically produced goods.
The Special Adviser to the President on Special Duties, Communications, and Strategy, Dele Alake, disclosed this during a media briefing at the State House in Abuja. The Executive Orders aim to alleviate the tax burden on telecom services and promote local manufacturing
The President also approved the Finance Act (Effective Date Variation) Order, 2023, which extends the implementation date of the changes outlined in the Act from May 23, 2023 to September 1, 2023, as stated by him.
In line with the 2017 National Tax Policy’s provision of a minimum 90-day notice for tax changes, President Tinubu signed The Customs, Excise Tariff (Variation) Amendment Order, 2023. This order shifts the effective date of the tax changes from March 27, 2023, to August 1, 2023. The objective is to ensure compliance with the required advance notice.
