Northern members of the House of Representatives have raised fresh concerns regarding the four tax reform bills currently under consideration in the National Assembly. The lawmakers voiced their reservations during an interactive session with the Presidential Committee on Fiscal Policy and Tax Reforms on Monday.
At the forefront of the debate is the proposed amendment to the distribution of Value Added Tax (VAT) revenue, which has sparked widespread controversy. The four bills being discussed include the Nigeria Tax Bill 2024, designed to establish the country’s fiscal framework for taxation, and the Tax Administration Bill, which aims to streamline the legal framework for taxes and reduce disputes.
The other two bills under consideration are the Nigeria Revenue Service Establishment Bill, which seeks to repeal the Federal Inland Revenue Service (FIRS) Act and create the Nigeria Revenue Service (NRS), and the Joint Revenue Board Establishment Bill, which would establish a tax tribunal and a tax ombudsman.
In light of growing concerns, the National Economic Council (NEC) and state governors have called on President Bola Ahmed Tinubu to withdraw the bills for further consultations to address the concerns raised by various stakeholders.
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