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Home finance 7.5% VAT: Nigerians React As VAT Increase Affects Calls And Data Price

7.5% VAT: Nigerians React As VAT Increase Affects Calls And Data Price

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Nigerian businesses have kicked off the implementation of the 7.5% Value Added Tax (VAT) rate, following the introduction of the Finance Bill.

Last month, President Muhammadu Buhari had signed the country’s finance bill into law, with an increase of VAT from 5% to 7.5%.

Read Also: Nigerians Lament As Buhari Signs Finance Bill, Increases VAT From 5% To 7.5%

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) had on January 31 notified Nigerians on the application of the new VAT rate on all purchased telecommunication products and services.

VAT

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

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

However, many Nigerians have taken to micro-blogging social platform, Twitter to express shock over the hike in calls and data price.

They shared screenshots of the notifications they received from their telecom service providers to the effect of the new VAT charges. 

See tweets below: 

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