The Deputy Spokesman of the House of Representatives, Mr Philip Agbese, has stated that his decision to lead parliamentary support for President Bola Tinubu’s Tax Reform Bills, currently before the National Assembly, stems from the need to stimulate the economy and establish a streamlined tax administration system, free from multiple taxation.
On September 3, 2024, the President submitted four tax reform bills to the National Assembly for consideration, based on recommendations from the Presidential Committee on Fiscal and Tax Reforms, led by Taiwo Oyedele, to review existing tax laws.
The bills include the Nigeria Tax Bill 2024, aimed at providing a fiscal framework for taxation in the country, and the Tax Administration Bill, which seeks to offer a clear and concise legal framework for all taxes, reducing disputes.
The other bills are the Nigeria Revenue Service Establishment Bill, which proposes to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which would create a tax tribunal and tax ombudsman.
The executive bills have faced opposition from state governors, who requested their withdrawal a fortnight ago to allow for more consultation, a proposal rejected by President Tinubu.
Speaking to journalists in Abuja on Monday, Agbese, a known supporter of the President, expressed his conviction that the reform bills would stimulate the economy if enacted and implemented.
