Finally, the reports on the four tax reform bills were laid on the floor of the House of Representatives during Tuesday’s plenary.
The reports were laid by the Chairman of the House Committee on Finance, Hon. Abiodun James Faleke.
Leading the debate on the motion, Hon. Faleke urged the House to “receive the Report of the Committee on Finance on a Bill for an Act to provide for the assessment, collection of, and accounting for revenue accruing to the Federation, Federal, States and Local Governments.”
According to him, the bill, which was referred to the Committee by the House on 12th February 2025, also prescribes the powers and functions of tax authorities and related matters.
He also presented to the House the report of the Committee on Finance on a Bill for an Act to repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007, and enact the Nigeria Revenue Service (Establishment) Bill to establish the Nigeria Revenue Service, charged with the powers of assessment, collection of, and accounting for revenue accruable to the Government of the Federation, and for related matters.
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In the same vein, Hon. Faleke laid before the House the Committee’s report on a Bill for an Act to establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud for the harmonisation, coordination, and settlement of disputes arising from revenue administration in Nigeria and for related matters.
Finally, at plenary, the lawmaker laid the report of the Committee on Finance on a Bill for an Act to repeal certain Acts on taxation, consolidate the legal frameworks relating to taxation, and enact the Nigeria Tax Act to provide for the taxation of income, transactions, and instruments, and for related matters.
In line with extant legislative practice, the House Committee on Rules and Business is expected to gazette the reports for consideration.
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