Earlier today, the President of Nigeria, Bola Ahmed Tinubu, signed four executive orders that are meant to ease Tax burdens on various businesses in Nigeria.

President Tinubu Signs 4 Executive Orders to Ease Tax Burden on Businesses in Nigeria

The special adviser to the president on Special duties, communications and startegy Dele Alake, briefed the media on the following:

To address concerns raised by manufacturers and other stakeholders regarding recent tax changes, President Bola Tinubu has signed 4 executive orders:

1 – 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.

2 – Customs Excise Tariff Amendment Order, 2023, shifts the commencement date of tax changes from March 27, 2023, to August 1, 2023.

3 – Suspension of the 5% Excise Tax on telecommunication services and excise duty on locally produced produts.

4 – Suspension of the newly introduced Green Tax on Single Use Plastics and the Import Tax Adjustment levy on certain vehicles.