The Nigerian government has exempted the digital economy from a five percent excise duty, according to the country's Minister of Communication and Digital Economy, Prof. Isa Pantami.
The decision follows the submission of a report by the Presidential Review Committee on Excise Duty in the digital economy sector, which recommended that the sector be exempted from the levy.
Pantami said that the digital economy sector already faces 41 categories of taxes, levies, and charges, making it unjustifiable to impose an additional excise.
He noted that the telecom sector is already heavily taxed and contributes significantly to Nigeria's economy, adding that increasing taxes could damage the industry and harm SMEs and MSMEs that depend on it for survival.
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