Reps Pass Tinubu’s Tax Reform Bills

The House of Representatives on Tuesday, passed the Tax Reform Bills, ending a long drawn controversy over the desirability or otherwise of the bills.

President Bola Tinubu submitted the bills to the two chambers of the National Assembly in October 2024. The bills include: the Nigeria Tax Administration Bill; the Nigeria Revenue Service (Establishment Bill); the Joint Revenue Board Bill; and the Nigeria Tax Bill.

Recall that the House had, last Thursday, considered and approved the report of the House Committee on Finance that carried out further legislative duties on the bill, including public hearings.

The day’s business started with the House Leader, Julius Ihonvbere moving for the bills to be read for the third and final time.

Ihonvbere said, “Mr Speaker and Honourable colleagues, a bill for an Act to provide for the assessment, collection of, and accounting for revenue accruing to the Federation, Federal, States and Local Governments, prescribe the powers and functions of tax authourities, and for related matters be read for the third time.

“That A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and Enact the Nigeria Revenue Service (Establishment) Bill to Establish Nigeria Revenue Service, charged with Powers of Assessment, Collection of, and Accounting for Revenue Accruable to the Government of the Federation and for Related Matters be read for the third time

“A Bill for an Act to Establish Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the Harmonisation, Coordination and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters be read for the third time

“A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to Provide For Taxation of Income, Transactions and Instruments, and for Related Matters be read for the third time”.

The four bills received overwhelming voice vote when the Speaker, Tajudeen Abbas called for members’ endorsement or rejection of the bills.

The bills await concurrence from the Senate end and subsequent harmonisation before they would be transmitted to President Bola Tinubu for assent.

The bills had initially faced stiff opposition from the state governors and some members of the National Assembly from northern Nigeria.

Reps Pass Tinubu’s Tax Reform Bills is first published on The Whistler Newspaper