Monday, December 5, 2022
HomeFinanceNigerians to Start paying more for data and phone calls in New...

Nigerians to Start paying more for data and phone calls in New Fg tax – finance Minister.

The Nigerian government is already making a move that will make Nigerians pay 12.5% tax on telecommunication services as the federal government sets to implement a 5% inclusive tax duty for all telecommunication services in Nigeria.

These were announced during the stakeholder’s forum on the implementation of excise duty on telecommunication services in Nigeria by the Minister of Finance and Budget planning, Zainab Ahmed.

Also Read: Absolute disgrace’ – Aisha Yesufu reacts to threat by terrorists to kidnap President Buhari

During the presentation at the event organized by the Nigeria communications services (NCC), Ahmed who was represented by the chief officer of the ministry, frank Oshanipin, made the statement claiming the five percent excise duty has been in the finance Act since 2020 but has not been implemented by the ministry, Due to the government engagement with stakeholders.

She said;

“Payments are to be made on monthly basis, on or before the 21st of every month.

“The duty rate was not captured in the Act because it is the responsibility of the president to fix the rate on excise duties and he has fixed five percent for telecommunication services which include GSM.

“It is public knowledge that our revenue cannot run our financial obligations, so we are to shift our attention to nonoil revenue.

The responsibility to generate revenues for the government rest on us all.

Join us on Telegram



Leave a Reply

- Advertisment -

Most Popular