NCC Set To Implement New 5 per cent Tax
NCC Set To Implement New 5 per cent Tax

Telecommunications subscribers may need to pay more for calls, data and SMS as Federal Government has concluded plans to impose 5 per cent Excise Duty on all telecommunications services.

The new 5 per cent Excise Duty is part of the new Finance Act signed into law by the President in 2020.

A stakeholders’ forum organised by the Nigerian Communications Commission (NCC) on the proposed implementation of the  Excise Duty on all telecommunications services in Nigeria was held in Abuja.

The Minister of Finance, Budget, and Planning, Mrs Zainab Ahmed, pleaded with stakeholders during her presentation to support the implementation of the 5 per cent exercise duty on telecommunications services, stating that the decision was motivated by the Federal government’s declining oil and gas revenue.

Zainab, who was represented by Mr Musa Umar, Assistant Director, Tax and Policy, praised the NCC for giving her the chance to speak with stakeholders and for welcoming their contributions to the effort to generate money.

She emphasized how other African nations, like Malawi, Uganda, Tanzania, and others, have embraced this method of generating income.

Meanwhile, the Association of Licensed Telecoms Operators of Nigeria (ALTON), Association of Telecommunications Companies of Nigeria (ATCON) and National Association of Telecoms Subscribers (NATCOMS) have kicked against the move.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Top 10 Business Ideas In Nigeria You Can Start With 100,000 Naira

In a country where economic deficit and unemployment have become the order of the day, conceptualizing a business idea in Nigeria and subsequently starting it can be likened to a goldmine which offers an opportunity for people to tap into a better livelihood.

After Two Years, Daddy Freeze Apologises To Bishop Oyedepo
Daddy Freeze whose real name is Ifedayo Olarinde has apologised to Bishop Oyedepo who is the presiding bishop and founder of Living Faith Church aka Winners Chapel…

Tribuneonlineng.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here