The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has said that the Green Chamber is yet to take a stand on the tax reform bills sent to the National Assembly by President Bola Tinubu.
This was disclosed by Abbas on Monday in Abuja while declaring open an interactive session on the proposed bills.
The bills are: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
The Speaker noted that the four bills represent critical proposals from the executive to expand Nigeria’s tax base, improve compliance, and establish sustainable revenue streams for the nation’s development.
Abbas explained that the purpose of this session is to provide lawmakers with a comprehensive understanding of the proposed bills.
According to him, it is designed to deepen our appreciation of their provisions, commence constructive dialogue on contentious or controversial areas, and build the consensus necessary to produce versions of the bills that align with the interests of the executive, the legislature, sub-national governments, and the Nigerian people. Importantly, this session will help us identify areas needing amendment, clarification, or improvement and consider the compatibility of these bills with the 1999 Constitution (as amended) and other extant laws.
Abbas emphasized that tax reforms are a cornerstone of the House Legislative Agenda because of their central role in achieving sustainable economic growth and development.
He stressed that in every modern state, taxes are the bedrock of public revenue, providing the resources required to deliver education, healthcare, infrastructure, and security.
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