FG Invokes New Telecom Tax, Call, Data Costs To Double

Date: 09-08-2022 5:46 am (1 month ago) | Author: Olusanya Akinrinola
- at 9-08-2022 05:46 AM (1 month ago)
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Call and data tariffs may increase by as much as 100 per cent if plan by the federal government to hike consumption tax on telecom services scales through, Daily Trust reports.

The new tax regime, according to industry sources, will not only affect subscribers but also add tax burden on the telcos which would translate into rise in tariffs.

If the 5 per cent increment is eventually implemented, industry experts say, Nigerians will now be paying as much as N40 per minute call, up from about N20. And data tariffs could also go up to about N2,500 per gigabyte.
The finance minister, who unveiled the plan at a stakeholders’ forum on the implementation of excise duty on telecommunications services in Nigeria organized by the Nigerian Communications Commission (NCC), said the 5 percent excise duty was in the Finance Act, 2020.

She said the accrued taxes would be remitted on monthly basis, on or before 21st of every month. The move, according to the minister, was part of effort by the government to boost non-oil revenue in the face of dwindling income, especially from the oil sector.
The proposal has, however, set Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Minister of Communication and Digital Economy, Prof Isa Ali Pantami, on collision course.

While the Ministry of Finance cites a presidential approval to apply the new excise on telecommunication services, as provided by the Finance Act, the Ministry of Communication and Digital Economy is kicking on the ground that the new tax would be harmful to the sector and to subscribers.


Posted: at 9-08-2022 05:46 AM (1 month ago) | Hero
- Dopybadass at 9-08-2022 07:52 AM (1 month ago)
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Even as it is now the cost of data and calls is very expensive in Nigeria,these people mission in life is to make life more unbearable for Nigerians
Posted: at 9-08-2022 07:52 AM (1 month ago) | Gistmaniac
Reply
- constigoldo at 9-08-2022 09:42 AM (1 month ago)
(f)
This government is evil, always looking for what will bring hardship. if the masses are not suffering, they won't be happy.
Posted: at 9-08-2022 09:42 AM (1 month ago) | Hero
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- ignis99 at 9-08-2022 09:57 AM (1 month ago)
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All APC supporters should pay more since they like pain and suffering na ? Please get your PVC and vote a better person of your choice .
Posted: at 9-08-2022 09:57 AM (1 month ago) | Gistmaniac
Reply
- gogoman at 9-08-2022 12:23 PM (1 month ago)
Online (m)
pay your tax  Roll Eyes Roll Eyes Roll Eyes
Posted: at 9-08-2022 12:23 PM (1 month ago) | Addicted Hero
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- kp45 at 9-08-2022 05:04 PM (1 month ago)
Online (m)
Using the masses to pay for their sins.
Posted: at 9-08-2022 05:04 PM (1 month ago) | Hero
Reply

fire TRENDING GISTS fire

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