President Bola Tinubu has submitted four tax reform bills to the House of Representatives for consideration and swift passage.
In a letter read by Speaker Abbas Tajudeen during Thursday’s plenary, Tinubu stated that these bills align with the goals of his administration to enhance Nigeria’s fiscal framework.
The proposed bills include:
- Nigeria Tax Bill 2024 – This bill aims to establish a comprehensive fiscal framework for taxation across the country.
- Tax Administration Bill – This bill will provide a clear and streamlined legal framework for all tax operations in Nigeria, minimizing disputes and ensuring smoother administration.
- Nigeria Revenue Service Establishment Bill – This bill seeks to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, modernizing tax collection efforts.
- Joint Revenue Board Establishment Bill – This bill will create a tax tribunal and a tax ombudsman, ensuring fair and efficient resolution of tax-related issues.
President Tinubu emphasized that the proposed legislation would strengthen Nigeria’s fiscal institutions and align with the broader objectives of the government.
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