“Wrong Timing”: Experts Warn As FG Sets To Implement 5 New Taxes Covering Telecoms, Beverage, Cars 

The Federal Government of Nigeria is set to impose new taxes on beverages, telecommunication, and vehicle importation, among others. LEGIT NEWS reports.

One of the taxes that raised eyebrows is the 5% excise duty tax on mobile telephone services, fixed telephone, and internet services.Information Guide Nigeria

The tax which was earlier suspended has been included in the new Fiscal Policy Measures for 2023 recently signed by the Minister of Finance, Budget and National Planning, Zainab Ahmed as reported by Punch.

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This tax applies to mobile telephone, fixed, and internet services, both postpaid and prepaid.

Another decision that has drawn Nigerians’ attention is the revised excise duty rates on alcoholic beverages and tobacco products.JAMB Result

An analysis revealed that the taxes to be paid by alcoholic beverage companies have more than doubled, starting from June 2023. The total specific rate for beer, stout wines, and spirits (per liter) has also increased by 114.3 percent from N140 to N300 last year.NYSC Portal

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