VAT Implementation
VAT Implementation
News

VAT Implementation Begins As Calls, Data Cost Skyrocket

Teewhy

Telecommunications subscribers have begun paying for data and calls accordingly as the February 1 enforcement of the 7.5 per cent VAT, which was increased from 5 per cent has become effective.

The Association of Licensed Telecommunications Operators of Nigeria (ALTON), confirmed in a statement released to notify subscribers across all the networks.

The statement was signed and approved by its chairman, Mr Gbenga Adebayo and Mr Gbolohan Awonuga, Head of operations.

The purchases of telecommunication products and services will be affected by this implementation of the increased VAT. This increase would reflect on phone calls, text messages, and data charges in the country.

The statement read, "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.”

On implementation of the VAT increase, ALTON assured that its staff will adhere to the quality delivery of service and tariff transparency.

It should be recalled that President Muhammadu Buhari recently signed into law the finance bill, which was designed to support its implementation and to create a truly enabling environment for businesses and investment by the private sector.

Happenings Media
www.happenings.com.ng