After many weeks of consultations, the House of Representatives has passed four Tax Reform Bills for the committee stage after its submission before the parliament by President Bola Tinubu.
The bills okayed for the next stage were the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
The tax reform bills scaled second reading on Wednesday after five months of consultations among lawmakers to iron out contentious issues discovered inside the documents put forward by the president before the lawmakers.
Lawmakers in their debates note that the executive bills will help to harmonize tax administration in Nigeria, eliminate multiple taxation, expand the nation’s tax base and create an ombudsman for speedy resolution of tax disputes.
They also advocated judicious application of revenues by various tiers of government.
