The Nigerian Ministry of Finance Aug. 12 announced the government’s decision to implement a 5 percent excise duty tax on certain telecommunications transactions. The tax was contained in Finance Act 2020 and has presidential approval to begin April 1. The tax agency explains that the tax will: 1) apply to all voice calls, SMS, and data services; 2) be in addition to the existing 7.5 percent VAT on goods and services provided in all sectors; 3) be collected by telecommunications operators; and 4) be due to the federal government on or before the 21st of each month. [Nigeria, News Agency ...
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