After months of opposition and heated debates, the House of Representatives have finally passed the four tax reform bills which President Bola Tinubu transmitted to the National Assembly in October, 2024.
The bills were read for the third time during plenary on Tuesday. The House had last week adopted its report which contained several amendments to the bills especially to the contentious areas.
The bills will now be transmitted to the Senate for concurrence, before onward transmission to the president for his assent.
The four bills are aimed at enhancing government revenue, streamlining tax collection, and adjusting tax rates across various sectors. The first is 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 (HB.1756).”
The second one is 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 (HB.1757)” (Referred: 12/2/2025).”
Next is the “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 (HB.1758) 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, and for Related Matters (HB.1759).”
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
