National Assembly to Pass Harmonized Tax Bills

Faleke expressed gratitude to the Senate Conference Committee, led by Senator Sani Musa, and his colleagues on the House Conference Committee for their dedication and resilience in bringing the task to a conclusion. The bills are now ready for presentation to both the House and the Senate for final passage.

The four tax bills aim to transform and modernize the tax system in Nigeria, meeting international standards. The Senate President, Godswill Akpabio, praised lawmakers for their sacrifice in ensuring that the tax system meets international standards.

The National Assembly has indicated that it may pass the harmonized tax reform bills by Tuesday, following a successful review of contentious clauses in the proposed legislation. The Chairman of the House Committee on Finance, James Faleke, made this disclosure via his official X account on Sunday.

Faleke, who led the House delegation for the bills harmonization exercise, stated that the Conference Committee set up by the House and the Senate has successfully concluded its work. The joint committees thoroughly reviewed all sections and addressed grey areas of the four bills, examining each clause strategically and resolving contentious issues.

Faleke expressed gratitude to the Senate Conference Committee, led by Senator Sani Musa, and his colleagues on the House Conference Committee for their dedication and resilience in bringing the task to a conclusion. The bills are now ready for presentation to both the House and the Senate for final passage

The four tax bills aim to transform and modernize the tax system in Nigeria, meeting international standards. The Senate President, Godswill Akpabio, praised lawmakers for their sacrifice in ensuring that the tax system meets international standards.

Using part of the tax proceeds to fight cybercrime, boost defense infrastructure, TETFund, and aid soldiers in restoring peace and safety

Appointing a chairman and creating an ombudsman to arbitrate and adjudicate on tax-related matter Establishing a tax tribunal to resolve tax disputes

The National Assembly’s progress on the tax bills is a significant step towards transforming the country’s tax system. With the harmonization exercise concluded, the bills are expected to be passed into law soon, paving the way for a more efficient and effective tax system in Nigeria.