The National Assembly has proposed reintroduction of a five percent excise duty on telecommunications services, gaming, betting, and lottery activities in Nigeria.
It would be recalled that President Bola Ahmed Tinubu’s executive orders on July 6, 2023, which included a suspension of the 5 percent excise tax on telecommunications to alleviate the financial burden on businesses and households.
The initiative is outlined in an executive bill titled the “Nigeria Tax Bill 2024,” which seeks to reintroduce the excise duty.
According to the bill, the taxable amount will be determined based on the charges levied by service providers, whether in monetary terms or equivalent value.
