President Tinubu’s tax reform bills scales second reading in Senate

Nigeria President Bola Tinubu’s tax reform bills have passed second reading in the Senate.

The resolution of the Senate followed its consideration of the general principles of the Bills during plenary.

Tinubu had sent the four bills to the National Assembly, including the Nigeria Tax Bill 2024, the Tax Administration Bill, and the Nigeria Revenue Service Establishment Bill.

The passage of second reading in the senate was disclosed in a statement by Tinubu’s special adviser on media and communications, Sunday Dare, on Thursday, 28th of November 2024.

The statement reads:

“President Bola Tinubu’s tax reform bills have passed second reading in the Senate raising the prospect of his government pressing ahead with changes crucial for strengthening the economy.

“President Tinubu had sent the four bills to the National Assembly, including the Nigeria Tax Bill 2024, the Tax Administration Bill, and the Nigeria Revenue Service Establishment Bill, meant to repeal the Federal Inland Revenue Service (FIRS) Act and create the Nigeria Revenue Service (NRS) and, the Joint Revenue Board Establishment Bill saying their passage will bring the country economic prosperity.

“Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, had earlier in the week briefed Senators about how passage of the bills will transform Nigeria into an economic powerhouse.” [CONTINUE READING HERE]>>>>