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The House of Representatives has approved four tax reform bills transmitted by President Bola Ahmed Tinubu.
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The bills aim to reform Nigeria’s tax system, including the establishment of a new revenue service and the repeal of certain tax laws.
The Chairman of the Finance Committee, James Faleke, said due diligence had been done and issues of public concern had been addressed.
The House of Representatives has approved four tax reform bills transmitted by President Bola Ahmed Tinubu. The bills, which were considered and adopted by the House on Thursday, March 13, 2025.
The bills include 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.
Another bill is 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 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.
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The other two bills are for an Act to Establish Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the Harmonisation, Coordination and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters, and 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.
Pressing the report for consideration, Chairman of the Finance Committee, James Faleke, said, “Due diligence has been done as issues of public concerns have been addressed.”
Reps Demand Immediate Suspension of CBN’s ATM Charges Hike
The House of Representatives has demanded the immediate suspension of the increase in ATM transaction charges and stoppage of free ATM withdrawals for customers from other banks imposed by the Central Bank of Nigeria (CBN).
According to the lawmakers, the CBN’s directive to increase withdrawal charges and discontinue free ATM withdrawals for customers using other banks’ ATMs has imposed additional financial burdens on Nigerians.
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