Reps Pass Tinubu’s Tax Reform Bills

Amid fierce criticism and intense debate, the House of Representatives yesterday passed President Bola Tinubu’s four Tax Reform Bills.

The Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment Bill), the Joint Revenue Board Bill, and the Nigeria Tax Bill transmitted to the National Assembly by Tinubu on October 24 last year seek to overhaul the country’s tax system.

Last week, the Lower House tweaked the bills after rejecting the original proposal, particularly regarding the value-added tax (VAT). The House considered and approved the report of the House Committee on Finance that worked on the bills.

The bills were passed after they were read for the third time by House Leader, Julius Ihonvbere. With the passage of the bills, the House now awaits concurrence from the Senate, which has yet to pass its version of the proposed legislation.