excise

The Nigerian government on Tuesday announced the exemption of the Nigerian digital economy from the proposed 5 per cent excise duty introduced in August 2022. The Minister of Communications and Digital Economy, Isa Pantami, said this is in line with the recommendations of the committee constituted to review the applicability of the duty to the telecom sector which is considered already overburdened with taxation and sundry levies. According to a statement released on Tuesday, Mr Pantami disclosed this at a press…

The Centre for the Promotion of Private Enterprise (CPPE) has said that the imposition of excise duty on all services will make the business community vulnerable. Muda Yusuf, director of CPPE, disclosed this on Sunday in a statement titled “Tweaking the 2023 Finance Bill and Options for Unlocking revenues in 2023”. Mr Yusuf noted that the provision of the bill is too broad, inexact and wide-ranging, adding that there is no jurisdiction around the world where all services are liable to excise duty. According to…