President Bola Tinubu’s Tax Reform Bills have passed the second reading at the Senate.
The bills aim to reform Nigeria’s tax administration, harmonize revenue collection, and reduce tax burden.
Senate Majority Leader Bamidele Opeyemi sponsored the bills, saying they’ll bring a paradigm shift in tax administration.
The bills propose the establishment of the Joint Revenue Board, Tax Appeal Tribunal, and Office of the Tax Ombudsman.
They also seek to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service.
Senator Ali Ndume raised concerns about the bills, citing contradictions with the Constitution and lack of consultation.
Ndume noted that the Nigerian Governors’ Forum, National Executive Council, and traditional rulers have rejected the bills.
Despite concerns, Senate President Godswill Akpabio passed the bills for second reading through a voice vote.
The bills will now be reviewed by the Senate Committee on Finance, chaired by Senator Sani Musa.
Musa assured that the committee will give the bills thorough consideration and call for memoranda from stakeholders.
The Tax Reform Bills have been a subject of controversy, with many questioning their potential impact on the economy.
The Senate’s decision to pass the bills for second reading has sparked mixed reactions from Nigerians
