Latest news with #NigeriaTaxBill
Zawya
09-05-2025
- Business
- Zawya
Nigeria: Senate passes two remaining tax reform bills
The Senate concluded work on the tax reform bills by passing the remaining two bills on Thursday. The two bills passed for third reading on Thursday were the Joint Revenue Board (Establishment)Board Bill, 2025; and the Nigeria Tax Bill, 2025. The Red Chamber had earlier on Wednesday passed the Nigeria Tax Administration Bill, 2025, and the Nigeria Revenue Service Bill, 2025, bringing the total number of tax bills passed to four. President Bola Tinubu had forwarded the bills to the National Assembly in November 2024 amid controversies that were later resolved through various layers of engagements. However, the Senate and the House of Representatives will still go into a conference committee to harnonise areas of difference in the bills as passed in the respective chambers before the final drafts are sent to President Tinubu for his signature. Making his closing remarks on Thursday before the Senate adjourned plenary, the Majority Leader, Sen. Opeyemi Bamidele, recounted how senators worked extensively on the bills to ensure that the final versions served the interest of Nigeria and not individuals, as had been speculated in certain quarters. He said while the Senate would not beg for praise for its efforts, it must also state clearly that it was not out to be a rubber stamp to the executive. Bamidele disclosed how the Senate held 39 engagements across board to fine-tune the bills to address all the initial grey areas. He added, 'Thirty-nine different engagements were held on these bills from across various sectors. 'It was meant to give thoroughness to the bills and bring out the best to serve the nation. 'We are not here to grandstand or to portray ourselves as a rubber stamp parliament.' The Joint Revenue Board (Establishment) Bill, 2025, which has 63 clauses, primarily establishes the Joint Revenue Board (JRB) to replace the existing Joint Tax Board. It is meant to enhance cooperation and harmonisation of tax administration between the three tiers of government, federal, state, and local governments in the country. There is also the establishment of a Tax Appeal Tribunal for resolving tax-related disputes, continuing the functions previously under the Federal Inland Revenue Service (FIRS) Act. The bill creates the Office of the Tax Ombudsman to protect taxpayers' rights and ensure simplification and fairness in tax administration. It also seeks to streamline tax administration, increase intergovernmental cooperation, and introduce new mechanisms for dispute resolution to create a fairer, more consistent tax environment. In addition, the bill 'supports collaboration between federal and sub national tax authorities, including assistance by the Nigeria Revenue Service (NRS) to states and local governments in tax collection where legally authorised.' Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
BBC News
18-03-2025
- Business
- BBC News
Nigeria House of Representatives pass Tinubu tax reform bills
Di House of Representatives don pass di tax reform bills wey President Bola Tinubu send to di National Assembly for October 2024. Di bills wey di lawmakers pass on Tuesday na Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill. Dem pass di bills afta dem read am for di third time at plenary, wey Speaker Abbas Tajudeen preside ova. Last week, di lower chamber bin approve ogbonge amendments to di proposed legislation afta a clause-by-clause consideration of di bills, as presented by the Chairman, Committee on Finance, James Abiodun Faleke. E dey expected say di Senate go also pass di bills, and di proposed tax reform bills go dey transmitted to President Tinubu to assent to am. We dey update dis tori.
Zawya
25-02-2025
- Politics
- Zawya
Nigeria: Tax reform bill allows Sharia, customary laws to deal with section of inheritance, ACF urges NASS
The mouthpiece of the North Arewa Consultative Forum (ACF) has submitted a report containing comprehensive set of observations and recommendations to the National Assembly, saying Sharia, customary laws should be given jurisdiction on religious matter of inheritance. It equally called for the expunging of section 4(3) of the tax reform bill. This was contained in a statement issued by the National Publicity Secretary, Professor Tukur Muhammad Bab, and made available to newsmen in Kaduna on Monday. The group called for the retention of the current 7.5% rate Value Added Tax(VAT) in view of the economic challenges facing Nigerians and their businesses. The statement also said VAT on all agricultural equipment should be expunged, saying, and the words 'supply and supplies' in Chapter 6 (VAT), Part 1, Sections 143, 144, 145, and 147 of the Tax Administration Bill should be changed to 'consumption or consumptions'. Also, ACF contended that the term 'derivation' needs to be clearly and unambiguously defined and its distribution should be based on consensus reached through consultation with states and local governments as well as the advice of the Revenue Mobilisation and Fiscal Commission (RMFC) 'All small towns and major cities should have their streets named and houses numbered to make taxpayers easily traceable,' it stated. It also called for the reduction of the powers attributed to the Chief Executive Officer and Chairman of the Board of Directors/Governance of the Joint Revenue Board as the proposed provisions amount to attributing and concentrating almost absolute powers of supervision and accountability to a single person. It, therefore, suggested, 'Six Executive Directors reflecting federal character must replace the proposed eight Coordinating Directors; the Executive Directors must be nominated by the President and confirmed by Senate; ACF also called for the retention of TETFUND and NITD through re-couching Section 69 of the proposed Nigeria Tax Bill as a Development Levy to be shared with TETFUND, NITDA, NASENI, and the Education Loan Fund. While calling for the replacement of the word 'ecclesiastical' with 'religious' throughout the Bills, ACF noted that 'Section 4(3) of the Tax Bill should be expunged and the matter left to the jurisdiction of Sharia and customary laws. 'The Bills must allow for records of account and preparation of tax returns in local, and not just the English, languages,' it stressed. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
