President Tinubu Signs Four Executive Orders To Curb Multiple Taxation
Written by Olarotimi Oshin on July 6, 2023
In a bid to curb multiple taxation as complained by a cross section of Nigeria and the business class, President Bola Tinubu has signed four Executive Orders which includes the suspension of the five percent Excise Tax on telecommunication services as well as the excise duties escalation on locally manufactured products.
The Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake while briefing State House correspondents on Thursday at the Presidential Villa Abuja said President Tinubu also signed the Finance Act (Effective Date Variation) Order, 2023, which now defers the commencement date of the changes contained in the Act from May 23, 2023 to September 1, 2023.
He added that President Tinubu also signed The Customs, Excise Tariff (Variation) Amendment Order, 2023, adding that the President also ordered the suspension of the newly introduced Green Tax on Single Use Plastics (SUPs), including plastic containers and bottles.
President Tinubu also ordered the suspension of Import Tax Adjustment levy on certain vehicles, stating that the orders were issued to ameliorate the negative impacts of the tax adjustments on businesses and chokehold on households across affected sectors.
