Tinubu Signs Four Executive Orders to Ease Tax Burden on Business

The President, Bola Tinubu has signed four Executive Orders which includes the suspension of the five percent Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.

The Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake disclosed this while briefing newsmen on Thursday at the Presidential Villa Abuja.

According to him, Tinubu also signed the Finance Act  Order, 2023, which now defers the commencement date of the changes contained in the Act from May 23, 2023 to September 1, 2023.

Alake explained that this is to ensure adherence to the 90 days minimum advance notice for tax changes as contained in the 2017 National Tax Policy.

This is in a bid to curb multiple taxation as complained by a cross section of Nigeria and the business class.