JUST IN: President Tinubu Signs Four Executive Orders To Ease Tax Burden on Businesses
By Trek Africa Newspaper
Special adviser to the president on Special duties, communications and startegy, Dele Alake briefed the media on the recent tax changes.
1 – The Finance Act Order, 2023, which defers the commencement date of the changes contained in the Act from May 23, 2023, to September 1, 2023.
2 – Customs Excise Tariff Amendment Order, 2023, shifts the commencement date of tax changes from March 27, 2023, to August 1, 2023.
3 – Suspension of the 5% Excise Tax on telecommunication services and excise duty on locally produced produts.
4 – Suspension of the newly introduced Green Tax on Single Use Plastics and the Import Tax Adjustment levy on certain vehicles.
