WED. 22 MARCH 2023-theGBJournal | The Minister of Communications and Digital Economy, Isa Pantami, said Tuesday at a press briefing that the Federal Government is removing its proposed five percent excise duty on telecommunication services, which includes calls and data.
The decision to remove the duty folows the recommendations of the Presidential Review Committee on Excise Duty in the Digital Economy Sector, which was constituted to review the implementation of excise duty in the telecom sector.
“I am happy to report to you that President Muhammadu Buhari, has approved the exemption of the digital economy sector from the five per cent excise duty to be paid and this is because of the strength of the argument presented to him by the Committee that additional burden on telecom sector will increase the sufferings of Nigerians and that other sectors that are not making as much contribution to the economy should be challenged to do more and pay the five per cent excise duty,” says Pantami who is also the Chairman of the Committee.
Pantami noted that if the tax had been upheld, many businesses will have felt its impact.
“Many MSMEs and SMEs depend on the sector for survival; if the tax is increased, the impact will take a toll on these businesses,’’ he said.
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