The House of Representatives yesterday passed the controversial tax reform bills submitted by President Bola Tinubu for second reading.
The bills are: the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board (Establishment) Bill.
The executive bills submitted to the National Assembly were read for the first time on the 8th of October, 2024.
However, the debates on the proposed legislations were put on hold due to the controversy it generated with some northern lawmakers vehemently kicking against some aspects, especially as it regards the sharing formula of Value Added Tax (VAT).
The National Economic Council (NEC), a body that comprises governors and chaired by Vice President Kashim Shettima, had urged the president to withdraw the bills for further consultations.
However, the defiant Tinubu refused, saying that all concerns should be addressed in the National Assembly.
Leading the debate on the general principles of the bills at the plenary yesterday, House Leader, Julius Ihonvbere, commended the President for having the courage to institute the bills.
He expressed optimism that bills would address and reform the nation’s tax laws with a view to among others address issues of multiple tax, multiply revenue collection, and diversify the economy.
