The House of Representatives is scheduled to deliberate on four tax bills today, February 12, 2025. These bills were transmitted to the National Assembly in 2024 by President Bola Tinubu.
On September 3, 2024, Tinubu forwarded the bills for legislative consideration, following recommendations from the Taiwo Oyedele-led Presidential Committee on Fiscal Policy and Tax Reforms.
Among the bills is the Nigeria Tax Bill 2024, which aims to establish a comprehensive fiscal framework for taxation in the country. The Tax Administration Bill seeks to provide a well-defined legal framework for tax administration and minimize disputes.
Additionally, the Nigeria Revenue Service Establishment Bill proposes the repeal of the Federal Inland Revenue Service Act and the establishment of the Nigeria Revenue Service. The Joint Revenue Board Establishment Bill is designed to create a tax tribunal and a tax ombudsman.
A lawmaker familiar with the development confirmed the planned debate, saying, “They will be debated today.”
Further details to follow…