The telecom industry annually contributes N450 billion in form of taxes to Nigeria’s economy, President of the Association of Telecommunications Companies of Nigeria (ATCON), Mr. Olusola Teniola, has said.
Teniola said in Lagos on Friday that the industry had been paying the sum to the three tiers of government in the last five years.
He said certain taxes including corporation and Pay As You Earn (PAYE) were statutory, adding that multiple taxes and some other levies made up the sum.
“These levies represent N200 billion out of the N450 billion we pay annually.
“This extra N200 billion we are paying can be used to effectively roll out our networks and improve quality of services,’’ he stated.
NAN
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