The Nigerian Senate has approved two out of four key tax reform bills, marking a major step in the ongoing overhaul of Nigeria’s tax administration system.
The bills passed include one to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish both the Joint Revenue Board and the Nigeria Revenue Service.
These were adopted after detailed review and a third reading on the Senate floor.
Presenting the committee report, Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized that the tax reform legislation is vital for President Bola Tinubu’s vision of growing Nigeria’s economy to $1 trillion by 2030.
He stressed the importance of creating laws that are practical, beneficial, and enduring beyond the current administration, reflecting the true needs of Nigerians.
However, President of the Senate Godswill Akpabio praised the progress, expressing confidence that these reforms would improve governance and transform the way taxes are collected and distributed nationwide.
Akpabio assured that the remaining two bills would be concluded the next day, even if it required extended sitting hours.
UPPER CHAMBER: Nigerian Senate Approves Two Key Tax Reform Bills
The Nigerian Senate has approved two out of four key tax reform bills, marking a major step in the ongoing overhaul of Nigeria’s tax administration system.
The bills passed include one to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish both the Joint Revenue Board and the Nigeria Revenue Service.
These were adopted after detailed review and a third reading on the Senate floor.
Presenting the committee report, Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized that the tax reform legislation is vital for President Bola Tinubu’s vision of growing Nigeria’s economy to $1 trillion by 2030.
He stressed the importance of creating laws that are practical, beneficial, and enduring beyond the current administration, reflecting the true needs of Nigerians.
However, President of the Senate Godswill Akpabio praised the progress, expressing confidence that these reforms would improve governance and transform the way taxes are collected and distributed nationwide.
Akpabio assured that the remaining two bills would be concluded the next day, even if it required extended sitting hours.
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The Nigerian Senate has approved two out of four key tax reform bills, marking a major step in the ongoing overhaul of Nigeria’s tax administration system.
The bills passed include one to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish both the Joint Revenue Board and the Nigeria Revenue Service.
These were adopted after detailed review and a third reading on the Senate floor.
Presenting the committee report, Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized that the tax reform legislation is vital for President Bola Tinubu’s vision of growing Nigeria’s economy to $1 trillion by 2030.
He stressed the importance of creating laws that are practical, beneficial, and enduring beyond the current administration, reflecting the true needs of Nigerians.
However, President of the Senate Godswill Akpabio praised the progress, expressing confidence that these reforms would improve governance and transform the way taxes are collected and distributed nationwide.
Akpabio assured that the remaining two bills would be concluded the next day, even if it required extended sitting hours.
LEAVE A REPLY
The Nigerian Senate has approved two out of four key tax reform bills, marking a major step in the ongoing overhaul of Nigeria’s tax administration system.
The bills passed include one to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish both the Joint Revenue Board and the Nigeria Revenue Service.
These were adopted after detailed review and a third reading on the Senate floor.
Presenting the committee report, Senator Sani Musa, Chairman of the Senate Committee on Finance, emphasized that the tax reform legislation is vital for President Bola Tinubu’s vision of growing Nigeria’s economy to $1 trillion by 2030.
He stressed the importance of creating laws that are practical, beneficial, and enduring beyond the current administration, reflecting the true needs of Nigerians.
However, President of the Senate Godswill Akpabio praised the progress, expressing confidence that these reforms would improve governance and transform the way taxes are collected and distributed nationwide.
Akpabio assured that the remaining two bills would be concluded the next day, even if it required extended sitting hours.