FG Scraps 5% Telecom Tax to Benefit 171 Million Users
The Federal Government of Nigeria has removed the 5% excise duty on telecommunication services, aiming to alleviate financial burdens on over 171 million active telecom users. The decision, directed by President Bola Tinubu, follows discussions in the Finance Act.
Initially introduced in 2022 to boost revenue, the tax faced criticism for potentially increasing costs for both operators and subscribers. The Nigerian Communications Commission (NCC) highlighted the tax's impact on the already heavily taxed sector.
The removal is expected to benefit consumers and operators, reducing the overall tax burden on telecom services in the country.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
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