FG suspends proposed tax on telecom services

The Federal Government has suspended its planned excise duty tax on telecommunications and ICT based equipment and services originally stipulated for March next year.

The Minister of Communications and Digital Economy, Professor Isa Pantami stated this while inaugurating a six man Presidential Committee on the Review Excise duty Tax on the Digital Economy sector.

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Professor Pantami said the Digital Economy sector which has been the highest contributor to the nation’s GDP at 18.44% in 2021 alone cannot afford to loose its viability due to excessive taxation.

“The sector which included Mobile Network Service operators and other high value stakeholders had to service at least 41 categories of taxes from the various levels of government and was fast drowning in the sea of multiple taxes and levies”, he said.

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The Minister described broadband and telecomm services as necessities and not luxuries and should to be supported to make life easier for Nigerians.

He told the committee that the Federal Government has passed a National Start-Up Bill to the National Assembly for necessary legislation to further develop the ICT sector.

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