Thursday May 8, 2025 |
The Senate on Thursday, May 8, cleared the remaining two of President Bola Tinubu’s four tax reform bills in a move that has been hailed as laudable.
The passage was completed after a clause-by-clause consideration and expunging of contentious areas in the two legislations – the Nigeria Tax Administration Bill and the Nigeria Tax Bill during the plenary.
After announcing the passage of the bills following a majority voice vote, the Senate President, Godswill Akpabio, praised the lawmakers for their sacrifice in ensuring that the tax system in Nigeria meets an international standard.
He said, “These four executive bills seek to transform and modernise the tax system in Nigeria.”
The move came barely 24 hours after the Upper Chamber earlier cleared two of the bills before pushing the remaining legislation for consideration on Thursday.
Addressing journalists after the plenary, the Chairman of the ad hoc committee for the tax reform bills and the lawmaker representing Niger East Senatorial District, Senator Sani Musa explained that they did their best to ensure the taxation system in Nigeria meets international standard.
He said, “What we did was to look at the tax bills and do the needful. President Tinubu brought the tax reform bills to see how they could bring economic development. We underwent a public hearing and had a retreat with 76 organisations present.
Religious leaders and other relevant stakeholders were also in attendance. We also agreed that the Nigerian Revenue Service will need at least six directors.”
Continuing, Musa said the senators recommended that the president needs to appoint a chairman and create an ombudsman to arbitrate and adjudicate on tax-related matters.
The legislator harped on the need for the establishment of a tax tribunal, which he said cannot be overemphasised.
“It is not a court of record. We have looked at the issue of VAT, coĺlection of taxes, development levy and inheritance tax which had been expunged.
“I believe Nigerians wiĺl see something nice from this. We also commend the President for giving a level playing field to all,” he said.
While announcing that a harmonisation committee to reconcile the amendments of both Chambers of the National Assembly, Musa also disclosed that parts of the tax proceeds will be used to fight cybercrime, boost defence infrastructure, TETfund and aid soldiers in their efforts to restore peace and safety in the country.
Senate Passes Remaining Two Tax Reform Bills, Recommends Tribunal | TheNewsDESK
