President Bola Tinubu has signed four Executive Orders into law.
Daily Report Nigeria reports that the newly signed order aim at curbing arbitrary taxation policies in the country.
This was disclosed by Special Adviser to the President, Dele Alake, while interacting with State House Correspondents on Thursday.
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Alake said;
“Further 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.
“In 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.
“His Excellency will not exacerbate the plight of Nigerians,” Alake stated.
The Executive Order signed into law by President Tinubu include the Finance Act (Effective Date Variation) Order, Customs, Excise Tariff (Variation) Amendment Order, Import Tax Levy Adjustment as well as the suspension of the 5% Excise Tax on telecommunication services, the Excise Duties escalation on locally manufactured products, and the newly introduced Green Tax on single-use plastics.
