My take on 5% telecommunications excise duty suspension approval:

Recall Past FG not Buhari signed finance Bill 2020 into law on 31st December, 2020 with a commencement date of Jan 1,2021.

The act includes: Introduction of excise duty on telecommunication at a rate to be prescribed by the President.

In 2022: Finance Bill signed into law by past FG not Buhari included 5% on excise duty on telecommunication sector.

The Circular dated April 20, 2023 signed by Past Finance Minister Zainab Ahmed.

Circular: Approval for the implementation of the Fiscal Policy Measures and Tariff Amendments. 5% telecoms tax was Gazetted No 88, Vol 109 of 11 May,2022 was approved by FG not Buhari.

Back to @ProfIsaPantami, in March 2023, The Hardworking past Minister announced that govt had exempted telecom from the 5% excise duty.

Question: did the approval of Pantami reflect in the GAZETTE (force of law) issued by HMF Zainab Ahmed? The answer is NO.

Question: can the Minister or President suspends the section of the Finance Act? Yes but for a period. If he feels otherwise, he must go back to NASS for amendment.

Conclusion: HM Pantami did not follow up his approval to reflect his 5% suspension by LAW. Approval is different from an act of National Assembly and GAZETTE.

He obtained a mere administrative approval. But, PANTAMI should be HAPPY that his desire approval by suspending 5% excise duty on telecommunications has now been reflected by FG not Tinubu.

Law is law. Law is higher than administrative approval.

So, Pantami should rejoice too. Tinubu must also GAZETTE this SUSPENSION so that it will not be like Pantami’s route. It is a win win situation.

The ultimate goal is telecoms smiling. I so submit. Time for golf.

dondodo:
Like if you believe obi is coming to reclaim our

NewNg1:
Distractions... Yesterday's PEPT case was a hit..

dondodo:
Like if you believe obi is coming to reclaim our

post=124256953:
We vividly remember the background to this Tax thing few years ago.
In an effort to entrench a robust and efficient tax system in Nigeria, the National Tax Policy (NTP) was first published in 2012.
Four years later, former Finance Minister Kemi Adeosun, in 2016, set up a committee to review the policy to accommodate new strategies that will complement the government’s objectives of creating an enabling business environment and simple tax system.


The 2017 NTP prescribes a minimum of 90 days’ notice from the government to tax-payers before any tax changes can take effect, but it still needs to be complied with.

However, both the Finance Act 2023 and the Customs, Excise Tariff Order 2023 did not give the required minimum notice period, thus putting businesses in violation of the new tax regime even before the changes were gazetted.

Our Final take for now,
Indeed, the intentions behind upward adjustments of some of these taxes are quite noble.
Below are few policies that have been made so far by Our LEADER,

Reduced tax burden: The Executive Orders alleviate the tax burden on businesses and individuals by deferring the commencement date of tax changes and suspending certain taxes, providing financial relief.

Enhanced compliance: Clear guidelines and extended effective dates of tax changes promote compliance among taxpayers, as they have a better understanding of their obligations and deadlines.

Economic stability: Suspension of certain taxes on telecommunication services and locally manufactured products stabilizes prices, contributing to a more predictable business environment and consumer market.

They were designed to raise revenue and address environmental and health issues.
The government just need to make sure that the masses benefit from all these, we need to ease the suffering of the masses,
as it is being seen in saner climes abroad.
#NoPainNoGain

Slow and steady, this darling nation of ours will work again.

God bless Nigeria 🇳🇬

Razy75g:
please just STFU