Breaking: Tinubu’s Historic Tax Reform Bills Clear Senate’s Second Reading

Breaking: Tinubu’s Historic Tax Reform Bills Clear Senate’s Second Reading

The 10th Senate, under the leadership of Godswill Akpabio, has successfully passed four key tax reform bills proposed by President Bola Tinubu for second reading. The bills, which were debated on Thursday by Senate Majority Leader Opeyemi Bamidele,……READ MORE 

include the Nigeria Tax Bill 2024, aimed at providing a comprehensive fiscal framework for taxation, and the Tax Administration Bill, designed to reduce tax-related disputes.

Additionally, the Nigeria Revenue Service Establishment Bill, which seeks to replace the Federal Inland Revenue Service with a new body, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and ombudsman, were also passed. During the debate, lawmakers emphasized the need for these reforms to streamline tax collection, ease burdens on small businesses, and improve transparency in the system. Despite some concerns over timing and constitutional amendments, the bills gained broad support, with Senate President Akpabio overseeing their passage.

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