THURSDAY March 13, 2025 |TheNewsDESK
The House of Representatives has approved the four tax reform Bills earlier transmitted by President Bola Ahmed Tinubu, as it considered and adopted report by its special committee on the proposals on Thursday March 13, 2025.
They include 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 Authorities, and for Related Matters, and 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.
The others are 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, and 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.
Pressing the report for consideration, Chairman of the Finance Committee, James Faleke, said due diligence had been done as issues of public concerns have been addressed.
Nigeria‘s House of Representatives Approves Tinubu’s Tax Reform Bills
