By Citizenship Daily
The Senate at its plenary on Thursday passed the remaining two of the four tax reform bills presented to the National Assembly in November 2024.
The bills were passed sequel to presentation of the finance committee report by its chairman Senator Sani Musa.
Recall that two of such bills were passed on Wednesday while remaining two were passed Thursday, May 8.
The two bills passed on Thursday were “Joint Tax Board Establishment Bill and Nigeria Tax Bill”.
Senator Musa while addressing journalists after the passage of bills said it was necessary for the country taxes to be in line with international best practices.
The four tax reform bills passed include Nigerian Revenue Service Establishment Bill, the Nigerian Tax Administration Bill, the Joint Tax Board Establishment Bill and the Nigerian Tax Bill.
According to Senator Musa, the four bills one way or the other are interconnected, adding that “the objective of these bills is to streamline our tax administration, to make it possible that our taxes and the operations meet international best practices”.
He said the tax bills were presented by President Bola Tinubu with the sole aim of bringing economic prosperity to Nigerians, adding that “taxes are not enough to develop a nation, but taxes are very important segments to developing a nation because without money, without adequate revenue, you will not be able to get to meeting all those appropriated projects”.
