The Federal Government has suspended the proposed excise duty on telecommunication services.
Minister of Communications and Digital Economy, Isa Pantami, made this known on Monday, September 5, during the inaugural meeting of the Presidential Committee on Excise Duty for the Digital Economy Sector.
Pantami said he personally rejected the policy and advised president Muhammadu Buhari against it in view of the effects it would have on the digital economy.
According to him, the introduction of excise duty in the telecommunication and information and communications technology industry would jeopardise the successes already recorded within the industry.
Pantami also noted that currently the ICT sector is over-burdened with multiple taxations both at the federal and state level. He further disclosed that there are more than 41 taxes that telecommunication and ICT companies are paying and that it would be unfair to subject them to payment of excise duty.
