The Chairman of the Federal Inland Revenue Service (FIRS), Zaccheus Adedeji, Director-General of the Budget Office, Tanimu Yakubu, and Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele have appealed to the Senate to pass four Tax Reform Bills to catalyse the country’s development.
The trio, who appeared before the Senate in Abuja, explained that the bills seek to bring everything about taxation and administration of tax in the country under four different legislations.
The proposed tax laws are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
Adedeji, Yakubu, and Oyedele explained that the bills contain all major taxes payable by individuals and companies packaged as a compendium of taxes.
They said, contrary to some information in the public domain, the Bills are meant to radically transform tax administration for better efficiency.
The FIRS, Budget Office, and Presidential Tax Reforms Committee bosses added that the bills would update all archaic tax laws and simplify the complicated tax ecosystem.
