BREAKING: Reps in Closed-Door Session Over Tax Reform Bills

The House of Representatives has commenced a closed-door session to deliberate on the Tax Reform Bills proposed by President Bola Tinubu.

Recall that President Tinubu had on September 3, 2024, transmitted four tax reform bills to the National Assembly for consideration.

The bills submitted for approval include the Nigeria Tax Bill 2024, which is said to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and in turn reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, is said to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service; and the Joint Revenue Board Establishment Bill which will create a tax tribunal and a tax ombudsman.

According to PUNCH report, a lawmaker of the All Progressives Congress disclosed that the meeting is expected to address the the country’s economy.

“Not everyone is convinced yet about the bills but there is a feeling that the intent of the Federal Government is the well-being of the economy. This meeting is to drum support for the bills,”  he stated.

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