Tinubu Halts Tax Adjustment Levy on Vehicles
APC Presidential candidate, Tinubu
President Bola Ahmed Tinubu on Thursday gave a directive suspending the Import Tax Adjustment levy placed on some imported vehicles.
The order suspending the levy was disclosed by the Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake when he spoke to newsmen in Abuja.
Alake explained that the order was to alleviate the negative impact of tax adjustments on business and Nigerians.
Alake also disclosed that the President also approved a new commencement date of the Customs, Excise Tariff (Variation) Amendment Order date to August 1, 2023.
According to him, the President equally suspended 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.
Alake added, “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.”
The order suspending the levy was disclosed by the Special Adviser to the President on Special Duties, Communications and Strategy, Dele Alake when he spoke to newsmen in Abuja.
Alake explained that the order was to alleviate the negative impact of tax adjustments on business and Nigerians.
Alake also disclosed that the President also approved a new commencement date of the Customs, Excise Tariff (Variation) Amendment Order date to August 1, 2023.
According to him, the President equally suspended 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.
Alake added, “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.”
About Post Author
