Leading experts in tax, fiscal policy and economics have commended the federal government on its recent indication to suspend the proposed increases in excise duty rates on tobacco, alcoholic and non-alcoholic beverages as part of the 2023 Fiscal Policy Measures and Tariff Amendments.
A leading tax and fiscal policy expert and Head, Tax and Fiscal Policy at PricewaterhouseCoopers (PwC) Nigeria, Mr. Taiwo Oyedele, lauded the federal government for engaging with, and listening to the legitimate concerns raised by industry players and suspending the proposed increases in excise duty rates.
Speaking during an interview on Arise TV, Oyedele stated that government could not afford to implement an excise rate hike as doing so would not only worsen the current ailing condition of the manufacturing sector but inflict more economic hardship on the people.
“Glad to hear that the government is no longer going ahead with the proposed increases, it is great that the government, through the…
Source: Leadership Newspaper
