Communication Tax Could Overburden Consumers – Experts - Business - Nairaland
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| Communication Tax Could Overburden Consumers – Experts by innerkonsult1: 5:17pm On Nov 21, 2019 |
Financial analysts have described the proposed Communication Service Tax Bill as a misadventure and would only serve to overburden consumers who already bear 5.0% Value Added Tax (VAT) on telecommunications services. The 2016 version which failed, was meant to help boost government revenues from non-oil taxes in the wake of the collapse in oil prices between 2014 and 2016. The 2019 version of the bill passed the first reading in the Senate last week and it proposes a 9.0% Communication Service Tax (CST) to replace the planned increase in VAT from 5.0% to 7.5% by the FG. Read more: https://innerkonsult.com/communication-tax-could-overburden-consumers-experts/ Contact InnerKonsult for Professional Services on Tax, Accountancy and CAC Services. O8038460036, www.innerkonsult.com |
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