in

Nigerians Reacts As Telecoms Increase Charges For Calls, Data And SMS Over New 7.5% VAT

Nigerians have started paying more for data, SMS and calls because telecommunication companies have implemented the country’s new 7.5% VAT.

Nigerians Reacts As Telecoms Increase Charges For Calls, Data And SMS Over New 7.5% VAT 1

Telecommunication companies have increased the tariffs for calls, SMS and data services following the implementation of the new 7.5% Value Added Tax (VAT) on February 1, 2020, by the Federal Government.

KanyiDaily recalls President Muhammadu Buhari had signed the 2020 Finance Bill into law, which seeks to increase VAT from 5 percent to 7.5 percent.

Buhari said the finance bill was “specially designed to support its implementation and to create a truly enabling environment for business and investment by the private sector.”

Following the passage of the bill, Nigerians have started paying more for data, SMS and calls because telecommunication companies have implemented the country’s new 7.5% VAT.

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) had confirmed it in a statement.

The statement was issued to notify the subscribers across all the networks of implementation of the VAT increase effective February 1.

According to ALTON, purchases of telecommunication products and services will be affected by the implementation of the VAT increase.

ALTON said the VAT increase would reflect on the charges of phone calls, text messages and data for internet in Nigeria.

“Further to the assent of the Finance Bill by President Muhammadu Buhari, which reviewed the Value Added Tax (VAT) from 5 per cent to 7.5 per cent, ALTON wishes to notify consumers that our members will begin applying the new VAT rate on all purchased telecommunication products and services with effect from 1st of February 2020,” statement noted.

The new 7.5% VAT increase have triggered a lot of reactions from Nigerians on social media.

READ ALSO
"We'll Do Everything To Stop You From Being President In 2023" - Arewa Youths Tells Tinubu

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

American Rapper, Lil Wayne Traces His Original Roots, Finds Out He Is 53% Nigerian [Video] 27

American Rapper, Lil Wayne Traces His Original Roots, Finds Out He Is 53% Nigerian [Video]

Riot In Iyana Ipaja As Motorcycle Riders Clashes With Police Over Okada Ban In Lagos [Video] 28

Riot In Iyana Ipaja As Motorcycle Riders Clashes With Police Over Okada Ban In Lagos [Video]