The Federal Government on Monday suspended the planned introduction of excise duty on telecommunication services in the country.
The Minister of Communications and Digital Economy, Isa Pantami, confirmed the development at the inaugural meeting of the Presidential Committee on Excise Duty for the Digital Economy Sector in Abuja.
The Federal Government had on August 8th announced its intention to introduce taxes on telecommunication services and beverages effective from 2023 in a bid to boost the revenue accruing from the non-oil sector.
However, at Monday’s meeting, the minister said the move was suspended because the telecommunications sector was already overburdened by multiple taxations.
He said the implementation of the tax regime would increase the cost of telecommunication services in the country.