President Bola Ahmed Tinubu has taken action against multiple taxation by signing four Executive Orders into law.
These orders aim to curb arbitrary taxation policies in the country.
One of the orders, the Finance Act (Effective Date Variation) Order, defers the commencement date of changes in the Act to ensure adherence to the 90-day minimum advance notice for tax changes.
Another order, the Customs, Excise Tariff (Variation) Amendment Order, shifts the commencement date of tax changes in line with the National Tax Policy.
Additionally, the President has suspended the 5% Excise Tax on telecommunication services, the Excise Duties escalation on locally manufactured products, the Green Tax on Single Use Plastics, and the Import Tax Adjustment levy on certain vehicles.
These orders were issued to alleviate the negative impacts of tax adjustments on businesses and households.
President Tinubu aims to create a business-friendly environment and prioritize the well-being of Nigerians.
Article updated 2 weeks ago. Content is written and modified by multiple authors.
