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General News of Friday, 7 July 2023

Source: legit.ng

BREAKING: President Tinubu signs 4 executive orders, full list emerges

President Bola Ahmed Tinubu President Bola Ahmed Tinubu

President Bola Tinubu has signed four executive bills to address the concerns raised by manufacturers and other stakeholders on the recent tax exchanges on their businesses, Daily Trust reported.

Dele Alake, the special adviser to the president on special duties, communication and strategy, disclosed this on Thursday, July 6, while speaking to State House Correspondence at the Presidential Villa in Abuja.

The orders are listed below:

1. The Finance Act (Effective Date Variation) Order: This order deferred the date of commencement that was contained in the Act from May 23, 2023, to September 1, 2023.

2. Customs Excise Tariff Amendment Order, 2023: The President's new executive order, which moved the commencement of the date of tax changes from March 27, 2023, to August 1, 2023.

3. 5% Excise Tax on Telecomm. suspended: The president also signed an executive order that stopped the 5% Excise Tax on telecommunication services and the excise duty on locally made products.

4. Suspension of Green Tax: The newly introduced Green Tax on single-use plastics and Import Tax Adjusted levy on certain vehicles were suspended by President Tinubu.