Reps Hold Closed-Door Session On President Tinubu’s Tax Reform Bills
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The House of Representatives has entered a closed-door session to deliberate on the Tax Reform Bills proposed by President Bola Tinubu, a move that comes after the bills were transmitted to the National Assembly in September 2024.
The proposed reforms, which are based on recommendations from the Taiwo Oyedele-led tax reforms committee, aim to overhaul Nigeria’s tax system, addressing long-standing challenges and enhancing revenue generation.
The bills include the Nigeria Tax Bill 2024, which sets a new fiscal framework for taxation in the country, and the Tax Administration Bill, designed to streamline the legal process for tax collection and minimize disputes.
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Also, the Nigeria Revenue Service Establishment Bill seeks to replace the current Federal Inland Revenue Service with a more robust revenue service, while the Joint Revenue Board Establishment Bill aims to create a tax tribunal and a tax ombudsman for better oversight and dispute resolution.
A member of the All Progressives Congress (APC), who spoke on the condition of anonymity, revealed that the session was organized to address concerns and garner support for the bills among lawmakers.
“Not everyone is convinced yet about the bills, but there is a general understanding that the government’s intent is to improve the economy,” the lawmaker said.
