Скачать или смотреть Heated Debate On Consolidated Tax Reform Bills

The House of Representatives has passed the consolidated tax reform Bills for a second reading after an extensive debate on their general principles.

The Four Bills which are Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill were initially sent to the House by President Bola Tinubu last year and later merged into one for streamlined consideration.

The passing the consolidated tax reform bills for a second reading marks a significant milestone in Nigeria’s tax reform process.

The four bills, which were originally presented separately by President Bola Tinubu, have now been merged for more streamlined and efficient consideration.

This consolidation indicates a more comprehensive approach to tax reform, which could provide clarity and create a unified framework for the tax system in the country.

Leading the debate, House Leader Prof. Julius Ihonvbere emphasized the urgent need to overhaul Nigeria’s outdated tax system.

Lawmakers widely supported the Bills, highlighting their potential to harmonize tax administration, eliminate multiple taxation, expand the tax base, and establish an ombudsman for resolving tax disputes.

However, some raised concerns about inconsistencies and ambiguities in certain clauses, warning they could lead to misinterpretation or abuse, and urged the committee to address these issues.

Following a voice vote, Speaker Abbas Tajudeen declared the consolidated bills passed for a second reading, marking a key step in Nigeria’s tax reform process.
Follow The Gazette on:
YouTube: The Gazette TV
Facebook: African Gazette
X: africangazette_
Mail: [email protected]
Subscribe and get more news on: africangazette.net