The House of Representatives on Tuesday passed four tax reform bills originally submitted to the National Assembly by President Bola Tinubu in October 2024.
Last Thursday, the House had reviewed and approved the report of the Committee on Finance, which addressed key recommendations, especially on contentious issues like Value Added Tax and inheritance tax.
With the House’s approval secured, attention now shifts to the Senate, where the bills are expected to pass before being transmitted to the President for assent.
During Tuesday’s plenary, House Leader Julius Ihonvbere moved for the third and final reading of the bills. He said:
“Mr Speaker and Honourable colleagues,
A bill for an Act to provide for the assessment, collection, and accounting of revenue accruing to the Federation, Federal, State, and Local Governments; prescribe the powers and functions of tax authorities; and for related matters, be read for the third time.
A bill for an Act to repeal the Federal Inland Revenue Service (Establishment) Act No. 13, 2007, and enact the Nigeria Revenue Service (Establishment) Bill to establish the Nigeria Revenue Service, charged with the powers of assessment, collection, and accounting of revenue accruing to the Federation, and for related matters, be read for the third time.
A bill for an Act to establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud for the harmonisation, coordination, and settlement of revenue administration disputes in Nigeria, and for related matters, be read for the third time.
A bill for an Act to repeal certain existing tax laws, consolidate the legal framework relating to taxation, and enact the Nigeria Tax Act to provide for the taxation of income, transactions, and instruments, and for related matters, be read for the third time.”
All four bills were passed with overwhelming support, under the presiding leadership of Speaker Tajudeen Abbas.
Once the Senate passes its versions of the bills — and both chambers harmonise any differences — they will be sent to the President for assent.
Notably, the process faced resistance from some lawmakers, particularly from the North, who, aligning with their governors, called for the withdrawal of the bills for further consultation.
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