The taxes include a five per cent excise duty placed on telephone recharge cards and vouchers, nine per cent healthcare levy, and the 7.5% Value Added Tax .With the introduction of the new tax on phone calls to fund the provision of healthcare to vulnerable Nigerians, sundry taxes on telephone calls in Nigeria have shot up by 300 per cent in the last three years.
The new law creates a vulnerable group fund that will be financed through a new telecommunications tax charged on phone calls at not less than one kobo per second of GSM calls. It will also be funded through a basic health care provision fund, health insurance levy, special intervention fund, as well as any investment proceeds, donations and gifts to the authority.
Earlier in the month, Nigeria’s Minister of Finance, Zainab Ahmed, directed the Nigerian Customs to create a tariff line for the collection of the excise on mobile telephones, electricity meters and set up boxes at five per cent.at least N150 billion from the duty while Customs will pocket about N10 billion, a 7 per cent collection fee.
What does this even mean? 300%
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