His Excellency, President Bola Ahmed Tinubu, GCFR has signed the following Executive Orders:
Suspension of the five percent excise tax on telecommunication services.
Suspension of the excise duties escalation on locally manufactured products.
Finance Act (Effective Date Variation) Order, 2023, which defers the commencement date of changes in the Act from May 23, 2023, to September 1, 2023.
Customs, Excise Tariff (Variation) Amendment Order, 2023, which shifts the commencement date of tax changes from March 27, 2023, to August 1, 2023.
Suspension of the newly introduced Green Tax by way of Excise Tax on Single-Use Plastics, including plastic containers and bottles.
Suspension of the Import Tax Adjustment levy on certain vehicles.
These orders were issued to alleviate the negative impacts of tax adjustments on businesses and households in Nigeria.
More Details later…