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Nigerians will soon start paying a 12.5 percent tax on telecommunications services. The federal government proposes to implement a five percent inclusive excise duty on telecommunications services in Nigeria.
Nigerians will soon start paying a 12.5 percent tax on telecommunications services. The federal government proposes to implement a five percent inclusive excise duty on telecommunications services in Nigeria.
This was revealed by the Minister of Finance Budget and National Planning, Zainab Ahmed, while she was talking to a stakeholders forum on the implementation of excise duty on telecommunications services in Nigeria recently in the capital city of Abuja.
The proposed five percent will be added to the already existing 7.5 percent Value Added Tax (VAT) on telecommunications services. The proposed tax was a part of the Finance Act 2020. However, it was not implemented at that time.
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The imposition of the levy is attracting sharp criticism from the industry and consumers alike. The consumers feel that the burden would squarely fall upon them, while the industry maintains that the levy would affect mobile and internet penetration.
