Nigeria: New excise taxes and import tax
New fiscal policy measures for 2023
New fiscal policy measures for 2023
The government introduced the following new taxes in a circular dated 20 April 2023:
- Excise tax rate increases ranging from 20% to 100% on previously approved rates for alcoholic beverages, tobacco, wines and spirits鈥攅ffective 1 June 2023
- Introduction of 10% excise duty on single use plastics, including plastic containers, films and bags
- Reinstatement of 5% excise duty on telecommunication services, including mobile telephone services, fixed telephone and internet services (both postpaid and prepaid), which was previously introduced under the Finance Act 2020 but was suspended last year
- Introduction of 2% and 4% import adjustment tax on vehicles with two-liter engines and four-liter engines, respectively
Read a [PDF 2.8 MB] prepared by the 乐鱼（Leyu）体育官网 member firm in Nigeria
Read a related [PDF 1.5 MB] prepared by the 乐鱼（Leyu）体育官网 member firm in Nigeria
The 乐鱼（Leyu）体育官网 name and logo are trademarks used under license by the independent member firms of the 乐鱼（Leyu）体育官网 global organization. 乐鱼（Leyu）体育官网 International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind 乐鱼（Leyu）体育官网 International or any other member firm vis-脿-vis third parties, nor does 乐鱼（Leyu）体育官网 International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact 乐鱼（Leyu）体育官网's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.