President Bola Tinubu has signed four executive orders.
The executive orders include the suspension of the 5% excise tax on telecommunication services, as well as the excise duties escalation on locally manufactured products.
Dele Alake, special adviser on special duties, communications and strategy to the president, disclosed this on Thursday to state house correspondents.
According to him, the executive orders would address concerns raised by manufacturers and other stakeholders regarding recent tax changes.
The four executive orders include; Finance Act Order, 2023, which defers the commencement date of the changes contained in the Act from May 23, 2023, to September 1, 2023.
“Customs Excise Tariff Amendment Order, 2023, shifts the commencement date of tax changes from March 27, 2023, to August 1, 2023.
“Suspension of the 5% Excise Tax on telecommunication services and excise duty on locally produced produts.
“Suspension of the newly introduced Green Tax on Single Use Plastics and the Import Tax Adjustment levy on certain vehicles”, said Alake.
