President Bola Tinubu has submitted four tax reform bills to the National Assembly for consideration.
Senate President, Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, read the letter from the president during plenary in their respective chambers, on Thursday.
The proposed bills are the Nigeria Tax Bill 2024, which aims to establish a comprehensive fiscal framework for tax regulation and the Tax Administration Bill which seeks to provide a clear and concise legal structure for managing taxes in Nigeria to reduce disputes and enhance efficiency.
Others are the Nigeria Revenue Service Establishment Bill, intended to repeal the Federal Inland Revenue Service Act and create the Nigeria Revenue Service and the Joint Revenue Board Establishment Bill which proposes the creation of a tax tribunal and a tax ombudsman to address tax-related matters.
According to the letter, Tinubu said the bills were crafted to align with his administration’s goals.
The president said the bills which would bolster Nigeria’s fiscal institutions are in line with his government’s broader development objectives for the country.
