FEDERAL GOVERNMENT SUSPENDS 5 PERCENT EXCISE DUTY CHARGE ON TELECOMMUNICATIONS

Science/Technology Sep 6, 2022 0 309 Add to Reading List

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The Federal Government has suspended the implementation of the 5 percent excise duty charge earlier proposed on telecommunications services in the country.

The Minister of Communications and Digital Economy, Prof. Isa Pantami, disclosed this when he inaugurated a committee to review the 5 percent exercise duty in Abuja.

The Federal Government gave a hint on July 28, that the five percent would be added to the already existing 7.5 percent Value Added Tax (VAT) on telecommunications services.

Speaking during the inauguration of the committee, Pantami said that President Muhammadu Buhari granted his prayer for the immediate suspension of the 5 percent excise duty.