The Federal Government has suspended the introduction of a five per cent excise duty in the digital economy sector, a tax which was earlier proposed by the Minister of Finance.
The Minister of Communications and Digital Economy, Isa Pantami says he personally rejected the policy and advised President Muhammadu Buhari against it in view of the effects it would have on the digital economy.
He says the introduction of excise duty in the telecommunication and information and communications technology industry would jeopardise the successes already recorded within the industry.
Pantami also noted that currently, the ICT sector is over-burdened with multiple taxations both at the federal and state level.