Four executive orders have been signed by President Bola Tinubu, one of which suspends the 5% Excise Tax on Telecommunication Services and the Excise Duty Escalation on Locally Made Goods.
This was disclosed on Thursday during a press conference at the State House in Abuja by Dele Alake, Special Adviser to the President on Special Duties, Communications, and Strategy.
He claimed that the Finance Act (Effective Date Variation) Order, 2023, which delays the start of the Act’s modifications from May 23, 2023, to September 1, 2023, was also signed by the President.
The presidential spokesman claims that this is done to ensure that the 2017 National Tax Act’s need for 90 days’ advance notice for tax changes is followed.
