The Minister of Communications and Digital Economy, Isa Pantami, says President Muhammadu Buhari has approved the exemption of the digital economy sector from five per cent excise duty.
Pantami disclosed this yesterday during a press briefing by the Presidential Review Committee on Excise Duty in Abuja.
He informed that Buhari had on March 6 approved the exemption of the digital economy sector from the five per cent excise duty because it would harm the Nigeria citizens.
On September 5, 2022, the minister suspended the imposition of a five per cent excise duty on the sector.
According to him, 41 categories of taxes, levies and charges are already in the digital economy sector; hence, an additional excise is not justified.
“We increased revenue generated by 594 per cent from N51 billion quarterly to N481 billion quarterly.
“This is the only sector where the prices of services have been reduced. There is no justification for the government to impose more burdens on its poor Citizens.
“Many MSMEs and SMEs depend on the sector for survival; if the tax is increased, the impact will take a toll on these businesses,” Pantami said.
On his part, the executive vice-chairman of the Nigerian Communications Commission (NCC), Umar Danbatta, reiterated the agency’s commitment to improving the telecom industry.
He said the reduction of data has been the main target of the Commission, adding that the average one gigabyte of data had dropped to N335 from N350.
Dabatta called on Nigerians to report mobile network operators charging exorbitant prices for data. (NAN)
Many MSMEs and SMEs depend on the sector for survival; if the tax is increased, the impact will take a toll on these businesses.
