News Investigators/ The controversial tax reform bills pending before the Senate on Thursday scaled the second reading.
This follows the conclusion of debate on the general principles of the Bills during plenary on Thursday.
The leader of the Senate, Opeyemi Bamidele, who introduced the executive bills had earlier urged senators to consider the national interest by ensuring smooth passage of the bills.
The four bills include: “A Bill for an Act to Establish the Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombudsman for the harmonization, coordination, and settlement of disputes arising from revenue administration in Nigeria and for related matters, 2024
“A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and enact the Nigeria Revenue Service (Establishment) Act to Establish the Nigeria Revenue Service, charged with powers of assessment, collection of, and accounting for revenue accruable to the Government of the Federation, and for related matters, 2024.
“A Bill for an Act to Provide for the assessment, collection of, and accounting for revenue accruing to the Federation, Federal, States, and Local Governments; prescribe the powers and functions of tax authorities, and for related matters, 2024.
“A Bill for an Act to Repeal certain Acts on taxation and consolidate the legal frameworks relating to taxation and enact the Nigeria Tax Act to provide for taxation of income, transactions, and instruments, and for related matters, 2024.”
Following the second reading of the Bills, the President of the Senate, Godswill Akpabio referred the tax bills to the Senate Committee on Finance for further legislative action and to report back to the Senate in six weeks.
The tax reform bills had generated strong opposition with some northern senators kicking against its passage.
The northern governors have also kicked against the bills arguing that it does not serve the interest of the north.
