'It means that subscribers will now pay 12.5 per cent tax on telecom services, we will not be able to subsidise the five per cent excise duty on telecom services.'
Nigerians will soon start paying 12.5 per cent tax on telecommunications services as the federal government plans to implement five per cent inclusive excise duty on telecommunications services in Nigeria.
She said the delay on its implementation was as a result of government’s engagement with stakeholders.“The duty rate was not captured in the Act because it is the responsibility of the president to fix rate on excise duties and he has fixed five per cent for telecommunication services which include GSM.
“This is as a result of the 39 multiple taxes we already paying coupled with the epileptic power situation as we spend so much on diesel,” he said. Mr Awonuga said that the telecom service providers were already paying two per cent of their annual revenue to the NCC.“We are going to pass it to the subscribers because we cannot subsidise it,” he said.
He said the NCC had engaged with the federal ministry of finance, the Nigerian customs service and consultants from the World Bank to get needed clarifications.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Govt Set To Begin Universal Health Coverage For 83m NigeriansFederal government has concluded plans to kick start the long-awaited Universal Health Coverage Programme in a bid to make quality healthcare service
Read more »
Nigerian govt withdrew $1 billion from excess crude account for security -- MinisterThe disclosure comes after reports showed the government has depleted the savings over the years.
Read more »
Obey UN decision on Nnamdi Kanu - Ohanaeze to Nigerian GovtApex Igbo group, Ohanaeze Ndigbo has welcomed the decision of the United Nations, in which it asked the Federal Government of Nigeria to release Mazi
Read more »
Nigerian govt most difficult client, says AfDB officialA Senior Special Adviser to the President of the African Development Bank, Prof. Banji Oyelaran-Oyeyinka, on Tuesday, described the Federal Government as the bank's most difficult client.
Read more »
Nigerian govt threatens to sanction BBC, Trust TV for airing interviews with terroristsMr Mohammed said the federal government is aware of the 'unprofessional documentary' by the BBC Africa Eye, where interviews were granted to bandit warlords and terror gangs.
Read more »