Mathew Amaechi
The Nigerian Senate is poised to pass the controversial tax reform bills after a series of discussions between the Senate Ad-hoc Committee and key government officials. Senator Abba Moro, Chairman of the Ad-hoc Committee, revealed that significant progress had been made, and agreements had been reached on the contentious provisions of the proposed tax reform bills.
The Committee’s discussions centered around four key bills:The Nigeria Tax Bill (NTB) 2024, The Nigeria Tax Administration Bill (NTAB) 2024, The Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024 and The Joint Revenue Board (Establishment) Bill (JRBEB) 2024.
These bills, which were passed for second reading in the Senate on November 28, 2024, aim to reform Nigeria’s tax system and enhance revenue collection.
According to Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), the perceived grey areas in the bills have been cleared, and the committee is on track to pass the bills into law soon.
Adedeji emphasized that all stakeholders agreed on the necessity of the proposed tax laws, and the framework is in place for a smooth passage.
