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.
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:
7.5% VAT won’t affect the poor masses yen yen yen.
— Zaddy Ajala (@UNCLE_AJALA) February 5, 2020
7.5% VAT is only for luxuries yen yen yen.
Now MTN is adding 7.5% VAT to calls/texts or sending texts & phone call is for the rich alone?.
The annoying part is we didn’t even have good roads to show for all the before before tax.
With this new 7.5% VAT somebody’s daughter would expect somebody’s son to spend more than 20 mins with her on the phone?
— Tunde Jimoh (@iamtundegold) February 5, 2020
Who does that? pic.twitter.com/XDdvhjhxx9
Normally an SMS is N4 but today i sent a text and i observed it was N4.10K. Imagine 10kobo from 100Million people.
— King Ishuo (@IshuoAX) February 5, 2020
7.5% VAT is in everything now. Thank you Buhari for the yahoo yahoo government.
Pls see the screenshot that indicates the 7.5% VAT charge is now being applied on mobile phonecalls
— The Revolutionary Seeker (WAEC) (@The_Seeker76) February 5, 2020
I guess only the rich make phone calls in Nigeria?
Where are the Buharinomics experts & Ajurian economists that claimed the increase won’t affect the poor?
Purveyors of poverty! pic.twitter.com/ihoGghTBID
May God save this country! 7.5% VAT. pic.twitter.com/xL4BdoJ6wm
— Armoured-Tekun 🎗 (@ayemojubar) February 5, 2020
Normally an SMS is N4 but today i sent a text and i observed it was N4.10K. Imagine 10kobo from 100Million people.
— Captain Jack Sparrow 🇳🇬 (@Jenkky_2fit) February 5, 2020
7.5% VAT is in everything now. Thank you Buhari for the yahoo yahoo government.
Buhari I wish u parents used Condoms that night pic.twitter.com/WmqWOV6xEY
Nigerians enjoying their money, and remembering the 7.5% VAT they had to pay for it. pic.twitter.com/14UNdIRBPJ
— Umeh (@UmehWrites) February 5, 2020
When we were shouting about 7.5% VAT, you were all brainwashed that it was for luxury goods and just for rich people, blah.. blah… blah… Now SMS, calls and even data have all increased!
— the Morris Monye factor (@Morris_Monye) February 5, 2020
Abi it is the rich that make calls, it is the rich that uses instagram and twitter?
Smart president
— 😈😈 (@beadsmann9) February 5, 2020
I knew something was wrong when he started giving 33,000
7.5% VAT mtchewwwwwwwwwwww pic.twitter.com/pux4GvPDIf
You should be calling out Federal Govt. not MTN.
— Agunego Kosisochukwu (@iamversatile) February 5, 2020
Your President signed the Financial Bill into Law few days ago and it has taken effect.
7.5% VAT for Every Call, SMS, Recharge, Transfer or even Borrowing😂😂😂
I remember when APC sent @Ayourb on national television to explain to Nigerians how 7.5% VAT increase will not affect the poor masses. Now the poor masses are crying the most 😥. Oh my God. Propaganda is dangerous
— Obinna Nwosu (@obi_Nwosu) February 5, 2020
I remember when APC sent @Ayourb on national television to explain to Nigerians how 7.5% VAT increase will not affect the poor masses. Now the poor masses are crying the most 😥. Oh my God. Propaganda is dangerous
— Obinna Nwosu (@obi_Nwosu) February 5, 2020
Why would Mtn impose 7.5% vat on us when bank vat is not even up o that. pic.twitter.com/OjWuX01fSA
— Luci Lite (@npnogain_) February 5, 2020
7.5 VAT! On this note may we commence pic.twitter.com/hlzeWgrBQC
— iam_Soft™ (@olu_soft) February 5, 2020
