NECA commends FG on suspension of proposed telecoms tax

The Federal Government deserves praise for responding to the appeal to postpone the proposed telecoms tax in light of the numerous economic difficulties faced by operators and Nigerians in general.Information Guide Nigeria

The government was asked by the employers’ group to abandon the plan of raising excise taxes on spirits, alcoholic, and non-alcoholic beverages.

If the increases are put into effect, according to NECA, they will not only exacerbate the industry’s dire circumstances but also cause a severe shock that will result in job losses.

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Wale-Smatt Oyerinde, the director general of NECA, said that rather than burdening already struggling businesses, the government should look into other ways to raise income by expanding the tax base, cutting governance expenses, tackling the enormous oil theft.

According to him, businesses are not striving to be competitive again but are now more concerned with ”sustainability.“ The trend of the multiplicity of taxes and other unfavorable economic factors have led to the shutdown of many businesses while some others relocated to neighboring countries, he said.”JAMB Result

While further commending the government, Oyerinde said: “We commend the Federal Government for suspending the telecoms tax as it has the potential to compound the challenges of the sector and further burden Nigerians. At a time when the purchasing power of the citizens is being eroded by inflation and other negative economic indices and the telecoms industry is critically challenged, the best that the government can do is to provide relief for the citizens and business owners, notwithstanding its dwindling revenue.”

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