FCT, Abuja – The house of representatives on Wednesday, February 12, 2025, passed the consolidated tax reform bills for a second reading.
As reported by Daily Trust, the bills, which include the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill, were passed for a second reading after extensive debate.
Guardian Newspaper also noted the development.
House leader Professor Julius Ihonvbere, who led the discussion, stressed the need to modernise Nigeria’s tax system, which he described as outdated. The proposed reforms aim to simplify tax processes, reduce multiple taxation, and provide VAT exemptions on essential goods and services.
While most lawmakers supported the bill, some raised concerns over ambiguities in certain clauses. After deliberation, the speaker of the house of representatives, Abbas Tajudeen, put the bill to a voice vote, and it was passed for a second reading.
The bills consolidated by the house include: a bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States, and Local Governments; Prescribe the Powers and Functions of Tax Authorities, and for Related Matters (HB.1756); and a bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007.
Others include: a bill for an Act to Establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud, for the Harmonization, Coordination, and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters (HB.1758) and a bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to Provide for Taxation of Income, Transactions, and Instruments, and for Related Matters (HB.1759).
Update on passage of 2025 budget
Earlier, Legit.ng reported that the house of representatives assured Nigerians that it will not compromise its integrity in the consideration and passage of the 2025 Appropriation Bill.
The house of representatives deputy spokesperson, Philip Agbese, said the lawmakers are committed to ensuring that the budget is in the best interest of Nigerians.
Agbese said the house has thoroughly reviewed the N49.70tn 2025 Appropriation Bill submitted to the national assembly by President Bola Tinubu in December 2024.
