Tag: excise duty
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BDC operators seek exemption from excise taxes
The Association of Bureau De Change Operators (ABCON) on Thursday sought the exemption of excise taxes on foreign exchange transactions.
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FG removes excise duty for telecoms services
The Federal Government has announced the removal of excise duty for telecom sub-sector of Nigeria’s Digital Economy Industry in line with the recommendations of the Committee it constituted to review the applicability of the Duty to the telecom sector which is considered already overburdened with taxation and sundry levies.
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For telecoms, the curse of the low hanging fruits – By Okoh Aihe
They came on the wings of hope. Was it building castles in the air? Oh, the commonality of cliché! Nigeria will be good again. Life will be worth celebrating. Life will be safe. Food will be available. The dollar would return to the pre-1999 value. They would put an end to fuel subsidy, and electricity…
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FG shelves five percent duty on telecom services
The Federal Government has put on hold the proposed five percent excise duty on telecommunications services. The Minister of Communications and Digital Economy, Prof Isa Pantami, announced the suspension in Abuja on Monday. Pantami said the decision to suspend the tax was arrived at by stakeholders, asserting that the telecommunications sector already has challenges of…
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BREAKING: After public outcry, FG suspends proposed telecoms tax
The federal government of Nigeria has suspended the proposed 5% excise duty on telecommunication services, according to the Minister of Communications and Digital Economy, Isa Pantami.
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FG rakes in N68bn from beer, cigarettes, others in 6 months
The Nigeria Customs Service (NCS) collected over N68 billion from excise duty on beer, spirits and other alcoholic beverages, cigarettes, and tobacco for the federal government between January and June.
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Nigerians to start paying 12.5% tax on calls, SMS, other telecom services
Nigerians will soon start paying a 12.5 per cent tax on making calls, sending SMS and other telecommunications services as the Federal Government plans to implement a five per cent inclusive excise duty on telecommunications services in Nigeria.
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Manufacturers react to introduction of N10 excise duty by FG
Manufacturers react to introduction of N10 excise duty by FG
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Just In: Nigerians to pay more on Coke, Fanta as FG imposes N10/litre excise duty on carbonated drinks
Despite the harsh economic situation in Nigeria, the Federal Government government has introduced an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages. Explanation: Excise duty is a form of tax imposed on the production, licensing and sale of goods. TheNewsGuru.com, (TNG) reports Zainab Ahmed, Minister of Finance, Budget and National…
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Buhari approves new excise duty rates for alcoholic beverages, tobacco
President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, 4th June, 2018. The President has also granted a grace period of 90 days (three months) to all manufacturers before the commencement of the new excise duty regime. There is, however, no increase in…