The Lagos Chamber of Commerce and Industry (LCCI) has stated that the new telecom tax in Nigeria meant to raise N90 billion revenue annually as contained in the new Countrywide Overall health Insurance plan Authority Act 2021, would worsen the charge of carrying out small business in Nigeria by powerful subscribers to pay more for telecom expert services.
The LCCI elevated this stage yesterday in its press statement on the New Telecom Tax in Nigeria, and tasked the federal authorities to create a regulatory ecosystem that would minimise disruptions to telecoms companies’ operations in the place and permit enterprises to make investments more in telecoms infrastructure for a thriving digital overall economy.
The assertion which was signed by the Director General of the LCCI, Dr. Chinyere Almona, said: “The just lately signed Nationwide Health Coverage Authority Invoice 2021 that changed the National Health Insurance policy Plan Act, 2004 by President Muhammadu Buhari, destinations a new telecoms tax equal to a bare minimum of a person kobo for every 2nd on cell phone phone calls by subscribers.
“The realised resources, approximated to be about N90 billion yearly, are meant to finance cost-free healthcare for the susceptible groups – small children below five, expecting women of all ages, the aged, and bodily and mentally challenged Nigerians.
“The implications of all of these are that subscribers will be built to pay out far more for telecom products and services. And corporations that rely intensely on the telecommunication infrastructure to provide their companies will probable commence to incur an added charge load even as they now battle to comply with about 30-6 different taxes.”
The assertion recalled that due to the rising charge of operations, telecom corporations less than the Affiliation of Licensed Telecommunication Operators of Nigeria (ALTON) have set a plan in area for a proposed 40 for every cent improve in the expense of phone calls, SMS, and details in the coming months.
It, consequently, identified as on the federal authorities to make “a regulatory atmosphere that encourages enterprise—investing additional in telecoms infrastructure for a flourishing electronic economic climate and minimising the disruptions to telecoms companies’ functions although imposing tax compliance.”
The LCCI also tasked the authorities to make sure that revenues realised from the telecom tax “must be effectively managed to accomplish the objective of the tax. A good and transparent procedure is significant in figuring out the ‘vulnerable group’ that qualifies for the Vulnerable Group Fund.
“The N876 billion allocation to health and fitness in the 2022 federal spending plan is 5.1 for each cent of the complete funds and reduced than the 15 per cent least allocation as agreed in the Abuja Declaration of 2001. Nigeria’s overall health sector involves and justifies additional allocation contemplating the state of health care shipping and delivery in our nation nowadays.”