By Taiwo Oyedele This note seeks to clarify matters arising regarding the 5% fuel surcharge in the new tax laws. The charge is not a new tax introduced by the current administration. The provision already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007. Its restatement in the new Tax Act is for harmonisation and transparency rather than immediate implementation. We outline the frequently asked questions below and provide clarifying explanations. ๐ ๐ซ๐๐ช๐ฎ๐๐ง๐ญ๐ฅ๐ฒ ๐๐ฌ๐ค๐๐ ๐๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐1. ๐๐ฌ ๐ข๐ญ ๐ญ๐ซ๐ฎ๐ ๐ญ๐ก๐๐ญ ๐๐ข๐ง๐ฎ๐๐ฎโ๐ฌ ๐๐๐ฆ๐ข๐ง๐ข๐ฌ๐ญ๐ซ๐๐ญ๐ข๐จ๐ง ๐ข๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐๐ ๐ 5% ๐ฌ๐ฎ๐ซ๐๐ก๐๐ซ๐ ๐ ๐จ๐ง ๐๐ฎ๐๐ฅ? A1. No.…
Read MoreTHE 5โ SURCHARGE ON FUEL: WHAT IS TRUE AND WHAT IS NOT
