WATCH THE VIDEO HERE FOUR tax reform bills have passed their second reading in the House of Representatives. This is coming six months after President Bola Tinubu submitted them to the National Assembly. The bills Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill were passed by the President in 2024 following recommendations from the Taiwo Oyedele-led Committee on Fiscal policy and Tax Reforms. Having passed the second reading, the bills will now proceed to a public hearing. Their introduction has been met with widespread controversy, drawing criticism and opposition from various quarters, including northern governors and opposition politicians who have called for their withdrawal. During today’s plenary, lawmakers largely supported the bills. However, Representative Sada Soli expressed concerns that certain provisions might contradict the 1999 Constitution. He pointed out the need for clarity on derivation to prevent ambiguity and expressed confidence that the committee reviewing the bills would resolve any arising issues before their passage. Other lawmakers also raised concerns about the 40 acts the bills seek to amend, requesting that they be presented before Parliament. Additionally, they highlighted the issue of multiple taxation, particularly regarding property transactions, where both the buyer and seller are required to pay tax under the proposed legislation.
Reps advances tax bills to second reading
