Zainab Ahmed, the Minister of Finance, Budget, and National Planning said that the Federal Government (FG) is on point to implement a new tariff hike on data and calls.
The finance minister revealed that the implementation will start with a percent excise duty tax on all voice calls, SMS, and data services.
This is “in addition to the existing 7.5 percent Value Added Tax (VAT), paid for goods and services across all sectors of the economy,” a statement from the minister’s Special Adviser, Media & Communications, Yunusa Tanko Abdullahi, added.
“The government made the disclosure on five percent excise duty during a stakeholders’ meeting, organised by the Nigerian Communications Commission (NCC), the telecoms industry regulator.
“At that meeting, Mrs. Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, who was represented by the Assistant Director, Tax Policy, Federal Ministry of Finance, Budget and National Planning, Musa Umar, noted: ‘The five percent excise duty has been in the Finance Act 2020, but has never been implemented.
“Henceforth, the five percent excise duty will be collected by telecom operators and payment made to the federal government on a monthly basis, on or before 21st of every month,’” the statement read further.
