November 28, 2024
By Samuel Ogunsona
The Senate has passed four tax reform bills proposed by President Bola Tinubu for second reading despite opposition from Senator Ali Ndume.
Ndume expressed concerns about the timing and lack of wider consultations on the bills, but his objections were deemed insufficient to halt the bills’ progress.
However, after lead debate presentations on the bills by the Senate Leader, many of the Senators who made contributions on the bills like Senators Sani Musa ( APC Niger East), Seriake Dickson ( PDP Bayelsa West ), Abba Moro ( PDP Benue South) and Senate Whip, Tahir Monguno (APC Borno North), fully supported the bill.
The bills, which aim to simplify the tax landscape and reduce the burden on small businesses, were referred to the Senator Sani Musa-led Committee on Finance for further legislative action.
According to Senate Leader Opeybergi Bamidele, the bills will “eliminate double taxation” and “establish core tax statutes”.
The bills also propose the establishment of a Joint Revenue Board, a Tax Appeal Tribunal, and an Office of the Tax Ombud.
President of the Senate, Godswell Akpabio, stated that during the public hearing, experts, Governors, traditional rulers, and other stakeholders will be invited to provide input.
He assured that the Senate will ultimately provide what is best for Nigerians and the country.
The tax reform bills are a key part of President Tinubu’s efforts to reform Nigeria’s tax system and improve revenue collection.
