Google search engine

The Nigerian House of Representatives has indefinitely suspended the debate on the Tax Reform Bills initially scheduled for Tuesday, December 3.

This decision was communicated through a memo signed by Dr. Yahaya Danzaria, the Clerk of the House, which cited the need for further consultations on the matter.

The suspension follows mounting opposition from 73 northern lawmakers, including 48 members from the North-East, 24 representatives from Kano, and former Sokoto State Governor, Senator Aminu Tambuwal, who now serves as the representative for Sokoto South Senatorial District.

On October 13, President Bola Tinubu presented four tax reform bills to the National Assembly, following recommendations from the Presidential Committee on Fiscal and Tax Reforms, led by Taiwo Oyedele. These bills aim to review and amend existing tax laws and include:

1. A Bill to establish a Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombudsman to streamline revenue administration and resolve disputes.

2. A Bill to repeal the Federal Inland Revenue Service (FIRS) Act, replacing it with the Nigeria Revenue Service Act, which would centralize the powers of assessment, collection, and revenue accounting for the federal government.

3. A Bill to define the powers of tax authorities for the assessment, collection, and management of revenue across federal, state, and local governments.

4. A Bill to consolidate tax legislation and introduce the Nigeria Tax Act to address income, transactions, and instruments taxation.

The indefinite postponement comes as the House seeks to address concerns raised by lawmakers before proceeding with the debate.

Google search engine
Previous articleAPC Chieftain Slams Tinubu Over Rising Food Prices, Hunger Crisis
Next articleEFCC Secures Final Forfeiture of Largest-Ever Asset ‘Massive Abuja Estate’ Linked To Corruption