The Senate at plenary yesterday, passed the four tax reform bills for second reading, ignoring suggestions for its withdrawal for wider consultations.
The bills are, the Nigeria Tax Bill; the Nigeria Tax Administration Bill; the Nigeria Revenue Service Establishment Bill and the Joint Revenue Board Establishment Bill.
The red chamber had earlier held a one-hour closed session where the federal lawmakers agreed to debate the general principles of the bills.
The Senate Leader Opeyemi Bamidele read the lead debate when the closed session ended. Bamidele said the bills should be seen as part of the required legislative intervention to support ongoing fiscal and tax reform measures needed to reposition the Nigerian economy for growth and productivity.
He said “These bills should be considered with great sense of patriotism and exercise of the powers of the National Assembly under section 59 of the Constitution regarding imposition of taxes.
“I therefore urge my distinguished colleagues to support these Bills for second reading.” When the floor was opened to the senators who wanted to contribute, the senator representing Bayelsa West, Seriake Dickson, commended the executive for coming up with the landmark tax reform bills.
