Tinubu signs four Executive Orders, suspends 5% telecom tax

Tinubu signs four Executive Orders, suspends 5% telecom tax

President Bola Tinubu on Thursday signed four Executive Orders including the suspension of five percent excise tax on telecommunication services and the Excise Duties on locally manufactured products.

The suspended taxes were issued through Executive Order by former President Muhammadu Buhari at the twilight of his administration.

Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake, disclosed this on Thursday at the Presidential Villa Abuja.

He said this was to curb multiple taxation being complained by some members of the business community.

He 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 explained that this is to ensure adherence to the 90-day minimum advance notice for tax changes as contained in the 2017 National Tax Policy.

Tinubu also signed the Customs, Excise Tariff (Variation) Amendment Order, 2023, shifting the commencement date of the tax changes from March 27, 2023 to August 1, 2023 and also in line with the National Tax Policy.