President Bola Tinubu will, on Thursday, sign into law four tax reform bills that will “transform Nigeria’s fiscal and revenue framework,” the Presidency has revealed.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement he signed Wednesday evening, titled, “President Tinubu signs four tax bills into law tomorrow.”
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Onanuga said.
The presidential assent to the bills at the Presidential Villa, Abuja, will be witnessed by the Senate President, Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; Senate Leader, Opeyemi Bamidele; House Majority Leader, Julius Ihonvbere; Chairman of the Senate Committee on Finance, Sani Musa and his House counterpart, James Faleke.
