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The Nigerian Senate on Thursday passed President Bola Tinubu’s controversial Tax Reform Bills for second reading. The Bills are: ‘A Bill for an Act to Establish the Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombudsman, for the harmonisation, coordination and settlement of disputes arising from revenue administration in Nigeria and for other related matters, 2024. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
‘A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007 and enact the Nigeria Revenue Service (Establishment) Act to Establish the Nigeria Revenue Service, charged with powers of assessment, collection of, and accounting for revenue accruable to the Government of the Federation, and for related Matters, 2024.
‘A Bill for an Act to Provide for the assessment, collection of, and accounting for revenue accruing to the Federation, Federal, States and Local Government; prescribe the powers and funtions of tax authorities, and for related matters, 2024.
‘A Bill for an Act to Repeal certain Acts on taxation and consolidate the l;egal frameworks relating to taxation and enact the Nigeria Tax Act to provide for taxation of income, transactions and instruments, and for related matters.
Sponsor of the bills, Senate Majority Leader Bamidele Opeyemi, explained the general principles, saying the proposed legislation, if passed into law, will mark a paradigm shift in tax administration in Nigeria, to the advantage of Nigerians.
Senator Ali Ndume, however, raised concerns on the sanctity of the reforms, saying it contradicts certain provisions of the Constitution.
He insisted that the Constitution 1999 as amended should have been re-amended to reflect the desire of tax reform.
Ndume also cited the bills rejection by Nigerian Governors’ Forum and the National Executive Council, as well as by traditional rulers and other stakeholders.
Noting that he was not against the reforms as some provisions are good for the development of a robust tax administration system in Nigeria, he stressed that necessary steps should have been taken to follow due process in line with parliamentary rules.
Senate President, Godswill Akpabio after listening to Ndume, as well as presentations by Seriake Dickson and Mohammed Ali Monguno, who stoutly supported the bills, passed them for second reading through voice vote.…READ THE FULL STORY FROM SOURCE : …READ THE FULL STORY FROM SOURCE
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