Senate Commences Debate On Tinubu’s Tax Reform Bills

The 10th Senate led by Godswill Akpabio has commenced debate on the Tax Reform Bills forwarded to it by President Bola Tinubu in October 2024.

The lawmakers before the debate had earlier gone into about an hour closed-door session.

The Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), on their return from the executive session, led the debate on the bills.

The four tax bills sent to the National Assembly include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a legal framework for all taxes in the country and reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service; and the Joint Revenue Board Establishment Bill which will create a tax tribunal and a tax ombudsman.

The president’s economic team led by the Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele; alongside the Chairman, Federal Inland Revenue Tax, Zacchaeus Adedeji; and the Director-General, Budget Office, Tanimu Yakubu; were allowed into the plenary to explain the bills in detail to the lawmakers.