Senate begins debate on tax reform bills

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

Before the debate, the lawmakers had earlier gone into about an hour closed-door session.

On their return from the executive session, the Senate Leader, Opeyemi Bamidele (APC, Ekiti Central) 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.

PUNCH Online reports that 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.

Tope Omogbolagun

Tope, The PUNCH journalist, has over a decade of experience in health reporting, environmental issues and investigative journalism, and currently covers the National Assembly, specifically the Senate

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