Tinubu forwards 4 tax reform bills to NASS

President Bola Tinubu has submitted four tax reform bills to the National Assembly, NASS, for review and approval.

The bills were introduced in letters read during plenary sessions on Thursday, October 3, by Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas. In his message, President Tinubu emphasized that the proposed legislation is aligned with his administration’s fiscal reform objectives.

Among the proposed bills is the Nigeria Tax Bill 2024, which seeks to establish a comprehensive fiscal framework to regulate taxation in the country. The Tax Administration Bill aims to create a streamlined legal structure for managing taxes, reducing disputes, and improving overall tax administration efficiency.

The Nigeria Revenue Service Establishment Bill is designed to repeal the current Federal Inland Revenue Service Act and replace it with the Nigeria Revenue Service, a new body focused on tax collection and regulation. Lastly, the Joint Revenue Board Establishment Bill proposes the creation of a tax tribunal and a tax ombudsman to handle tax-related disputes and complaints.

President Tinubu noted that these bills are intended to strengthen Nigeria’s fiscal institutions and contribute to the broader development agenda of his administration.