President Tinubu Proposes Comprehensive Tax Reform Bills to the National Assembly

President Bola Tinubu has submitted four tax reform bills to the National Assembly for their consideration. In a letter presented during the plenary sessions by Senate President Godswill Akpabio and House Speaker Tajudeen Abbas on Thursday, the President outlined that these bills are designed to support the goals of his administration.

Among the proposed legislation is the Nigeria Tax Bill 2024, which aims to create a comprehensive framework for tax regulation. The Tax Administration Bill seeks to establish a clear and efficient legal structure for managing taxes in Nigeria, aimed at minimizing disputes and enhancing operational effectiveness.

Furthermore, the Nigeria Revenue Service Establishment Bill intends to repeal the Federal Inland Revenue Service Act, paving the way for the establishment of the Nigeria Revenue Service. Lastly, the Joint Revenue Board Establishment Bill proposes the creation of a tax tribunal and a tax ombudsman to effectively address tax-related issues.

President Tinubu emphasized that these bills are intended to strengthen Nigeria’s fiscal institutions and align with his government’s broader development objectives for the nation.

Written By; Christopher Emuakpeje

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