Four Bills aimed at reforming the nation’s tax regime were yesterday transmitted to both chambers of the National Assembly by the president. In one of the Bills, President Bola Ahmed Tinubu sought to rename the Federal Inland Revenue Service (FIRS) as the Nigeria Revenue Service (NRS).
Senate President Godswill Akpabio read the president’s letter of request on the floor of the Senate.
The letter reads in part: “The Nigeria Revenue Service (Establishment) Bill, seeks to repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007 and establishes the Nigeria Revenue Service, to assess, collect and account for revenue accruable to the government of the federation.”
Other reform bills in the letter titled: “Transmission of Fiscal Policy and Tax Reform Bills to the National Assembly” are: “The Nigeria Tax Bill, which seeks to provide a consolidated fiscal framework for taxation in Nigeria; The Nigeria Tax Administration Bill, which seeks to provide a clear and concise legal framework for the fair, consistent and efficient administration of all the tax laws to facilitate ease of tax compliance, reduce tax disputes and optimize revenue.
“The Joint Revenue Board (Establishment) Bill aims to establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombudsman for the harmonisation, coordination, and settlement of disputes arising from revenue administration in Nigeria.”
