President Tinubu has suspended the 5% excise tax on telecommunication services.
POLITICS NIGERIA reports that the announcement was made by Dele Alake, Special Adviser to the President, during a press conference with State House Correspondents.
This move is part of a series of Executive Orders aimed at reducing multiple taxation and creating a more conducive environment for local and foreign businesses.
The decision comes in response to concerns raised by stakeholders in the Information, Technology, and Communication sector, particularly the telecom industry, about the excessive and multiple taxations they currently face.
The sector plays a vital role in the Nigerian economy, contributing significantly to the Gross Domestic Product and generating substantial tax revenue for the government.
This is not the first time the proposed excise duty on telecommunication services has been suspended. Last year, the government took a similar action to ease the burden on the industry.
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