February 19, (THEWILL) – The House of Representatives has scheduled February 26 for a public hearing on the proposed tax reform bills aimed at overhauling Nigeria’s fiscal framework.
The reforms stem from President Bola Tinubu’s submission of four tax bills to the National Assembly on September 3, 2024.
The proposals, developed by the Presidential Committee on Fiscal and Tax Reforms led by Taiwo Oyedele, seek to review and harmonize Nigeria’s tax laws.
On February 12, the House passed the bills through second reading after considering their general principles, following a motion moved by Majority Leader, Julius Ihonvbere, during plenary.
Announcing the public hearing during plenary on Tuesday, Speaker Tajudeen Abbas disclosed that a 36-member Special Committee has been set up to coordinate proceedings.
The committee is chaired by Abiodun Faleke (APC, Lagos), with Seidu Abdullahi serving as Deputy Chairman. Other members include Alhassan Ado-Doguwa, Nicholas Mutu, Fred Agedi, and Idu Igariwey, among others.
The hearing will gather input from stakeholders on the four tax reform bills, which include, the Joint Revenue Board Bill, 2024, Nigeria Revenue Service Bill, 2024, Revenue Collection and Administration Bill, 2024 and Nigeria Tax Act Bill, 2024.
The House expects the hearing to provide critical insights from industry players, economic experts, and the public before further legislative action is taken.
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