President Bola Tinubu has signed 4 Executive Orders to address the series of lacuna identified in the tax policies of the previous administration.
The Special Adviser to the President Special, Communications, and Strategy, Mr Dele Alake, disclosed this while briefing State House correspondents on the objectives of the Orders.
Mr Dele Alake, briefed the media on concerns raised by manufacturers and other stakeholders regarding recent tax changes, signed by President Bola Tinubu which includes:
The Finance Act Order, 2023, which defers the commencement date of the changes contained in the Act from May 23, 2023, to September 1, 2023.
Customs Excise Tariff Amendment Order, 2023, shifts the commencement date of tax changes from March 27, 2023, to August 1, 2023.
Suspension of the 5% Excise Tax on telecommunication services and excise duty on locally produced produts.
And the Suspension of the newly introduced Green Tax on Single Use Plastics and the Import Tax Adjustment levy on certain vehicles.