President Bola Tinubu has presented four tax reform bills to the House of Representatives for review and prompt approval.
In a letter delivered at the plenary by Speaker Abbas Tajudeen on Thursday, the President stated that the bills are aligned with the goals of his administration
The letter outlines the four bills as follows: the Nigeria Tax Bill 2024, aimed at establishing the fiscal framework for taxation in the country, and the Tax Administration Bill, which will offer a clear legal framework for all taxes and help reduce disputes.
Additionally, the Nigeria Revenue Service Establishment Bill will replace the Federal Inland Revenue Service Act, creating the Nigeria Revenue Service, while the Joint Revenue Board Establishment Bill will establish a tax tribunal and a tax ombudsman.
Tinubu stated that the bills would strengthen the country’s fiscal institutions and align with the government’s objectives.
More details to follow soon.
