Tinubu signs four Executive Orders to tackle the arbitrary taxation problem

President Bola Ahmed Tinubu has signed four Executive Orders into law to curb arbitrary taxation policy in the country.

Dele Alake, Special Adviser, Special Duties, Communication and Strategy, to the President, Dele Alake, who announced the policy directive on Thursday, said Orders are to be signed to shift the commencement dates of some new Taxation Acts to conform with the 90 days minimum advance notice for tax changes as contained in the 2017 National Tax Policy as well as suspend the commencement of some other taxes.

The Executive Orders signed into law by the President, include the Finance Act (Effective Date Variation) Order, 2023, which has now deferred the commencement date of the changes contained in the Act from May 23, 2023, to September 1, 2023.

The second Order involves the Customs, Excise Tariff (Variation) Amendment Order, 2023, which shifted the commencement date of the tax changes from March 27, 2023, to August 1, 2023.

Alake also said President Tinubu has given an Order suspending the 5% Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.

“Further to his commitment to creating a business-friendly environment, the President has ordered the suspension of the newly introduced Green Tax by way of Excise Tax on Single-Use Plastics, including plastic containers and bottles.

“In addition, the President has ordered the suspension of the Import Tax Adjustment levy on certain vehicles.

“As a listening leader, the President issued these orders to ameliorate the negative impacts of the tax adjustments on businesses and chokehold on households across affected sectors.

“His Excellency will not exacerbate the plight of Nigerians,” Alake added.

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