President Bola Tinubu has transmitted five important tax reform bills to the Senate for their review. These bills are meant to improve Nigeria’s tax system. In a letter to the Senate, President Tinubu said that the new laws will make tax collection easier, make sure everyone pays their taxes, and bring in more money for the country.
The bills include the Fiscal Policy and Tax Reform Bill, the Nigeria Revenue Service Establishment Bill, the Joint Revenue Board Establishment Bill, the Nigeria Tax Bill 2024, and the Tax Administration Bill.
President Tinubu asked the Senate to quickly look at these bills because they match his government’s goals of making the tax system better, helping the economy grow, and increasing the money the country gets from taxes.
The Senate President, Godswill Akpabio, sent the bills to the Senate Committee on Finance for a closer look. The Federal Government plans to start using these new tax laws by January 2025.
