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Home ยป Tinubu Signs Four Executive Orders To Reduce Multiple Taxation
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Tinubu Signs Four Executive Orders To Reduce Multiple Taxation

OsunDailyBy OsunDailyJuly 6, 2023No Comments2 Mins Read
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Why I Signed Students Loan Bill Into Law - Tinubu
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In a bid to reduce arbitrary taxation policy in Nigeria, President Bola Tinubu signed four Executive Orders into law today, Thursday, July 6, 2023.

The development was confirmed in a statement issued by the Presidentโ€™s Special Adviser, Special Duties, Communication and Strategy, Dele Alake.

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

This, according to Alake, is to ensure adherence to the 90 daysโ€™ minimum advance notice for tax changes as contained in the 2017 National Tax Policy.

The second Order involves the Customs, Excise Tariff (Variation) Amendment Order, 2023, Alake revealed inย the policy directive unveiled during an interactive session with State House Correspondents on Thursday.

He noted that this had shifted the commencement date of the tax changes from March 27, 2023, to August 1, 2023, and also in line with the National Tax Policy.

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

โ€œFurther 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.

โ€œIn addition, the President has ordered the suspension of 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.


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โ€œHis Excellency will not exacerbate the plight of Nigerians,โ€ the statement added.


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Executive Multiple Orders reduce Signs Taxation Tinubu
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