The Lagos Chamber of Commerce and Market (LCCI) has stated that the new telecom tax in Nigeria meant to increase N90 billion income each year as contained in the new Countrywide Wellness Insurance Authority Act 2021, would worsen the charge of doing small business in Nigeria by persuasive subscribers to pay out additional for telecom providers.
The LCCI raised this level yesterday in its press statement on the New Telecom Tax in Nigeria, and tasked the federal government to produce a regulatory natural environment that would minimise disruptions to telecoms companies’ functions in the state and permit enterprises to invest much more in telecoms infrastructure for a flourishing electronic overall economy.
The statement which was signed by the Director Basic of the LCCI, Dr. Chinyere Almona, said: “The recently signed Nationwide Wellbeing Insurance Authority Bill 2021 that replaced the Countrywide Health Coverage Scheme Act, 2004 by President Muhammadu Buhari, places a new telecoms tax equivalent to a bare minimum of one particular kobo per next on phone calls by subscribers.
“The realised cash, estimated to be about N90 billion annually, are intended to finance free health care for the susceptible teams – children below five, expecting women, the aged, and bodily and mentally challenged Nigerians.
“The implications of all of these are that subscribers will be produced to pay out more for telecom products and services. And providers that depend intensely on the telecommunication infrastructure to deliver their companies will probably get started to incur an more expense burden even as they now struggle to comply with about thirty-6 distinctive taxes.”
The statement recalled that owing to the rising cost of functions, telecom companies beneath the Association of Accredited Telecommunication Operators of Nigeria (ALTON) have place a strategy in place for a proposed 40 per cent raise in the cost of phone calls, SMS, and details in the coming months.
It, for that reason, referred to as on the federal authorities to generate “a regulatory environment that promotes enterprise—investing more in telecoms infrastructure for a flourishing electronic financial state and minimising the disruptions to telecoms companies’ functions although imposing tax compliance.”
The LCCI also tasked the government to ensure that revenues realised from the telecom tax “must be properly managed to obtain the aim of the tax. A honest and clear system is critical in determining the ‘vulnerable group’ that qualifies for the Susceptible Team Fund.
“The N876 billion allocation to health in the 2022 federal spending plan is 5.1 for every cent of the whole price range and decreased than the 15 for each cent minimum allocation as agreed in the Abuja Declaration of 2001. Nigeria’s health and fitness sector demands and warrants extra allocation contemplating the point out of healthcare delivery in our country today.”