NASS to pass harmonised tax bills on Tuesday after intensive review

The National Assembly has indicated plans to pass the harmonised tax reform bills by Tuesday, following the successful resolution of contentious issues in the proposed legislation.

This update was revealed by the Chairman of the House Committee on Finance, James Faleke, on Sunday through his official X account.

Faleke, who led the House delegation during the harmonisation process, wrote: “The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work. The joint committees thoroughly reviewed all sections and addressed the grey areas of the four Bills, examining each clause strategically and resolving contentious issues.

“After an intensive deliberation that stretched through Thursday night, all day Friday, and into the early hours of Saturday, I am pleased to report that the Bills are now ready for presentation to both the House and the Senate for final passage.

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“I would like to especially appreciate the Senate Conference Committee, ably led by the Chairman of the Senate Committee on Finance, the Distinguished Senator Sani Musa, as well as all members of the Senate Conference Committee.

“I also extend heartfelt gratitude to my colleagues on the House Conference Committee, which I had the honour to lead, for their unwavering commitment to the Nigerian people. We are truly grateful for your dedication and resilience in bringing this important task to a conclusion.”

Two weeks ago, the four tax bills were submitted to the joint harmonisation committee made up of members of the Senate and the House of Representatives, tasked with reconciling the amendments of both chambers before forwarding them to President Bola Tinubu for assent.

After announcing the passage of the bills through a majority voice vote, Senate President Godswill Akpabio commended the lawmakers for their dedication to ensuring that Nigeria’s tax system aligns with global standards.

“These four executive bills seek to transform and modernise the tax system in Nigeria,” he said.

The milestone comes just a day after the Senate cleared two bills and moved the remaining legislation for consideration on Thursday.

Speaking to journalists after the plenary, Senator Sani Musa, Chairman of the ad hoc committee for the tax reform bills and representative of Niger East Senatorial District, elaborated on the far-reaching impact of the harmonisation process.

He said parts of the tax proceeds would be used to combat cybercrime, strengthen defence infrastructure, support TETFund, and bolster the efforts of soldiers to restore peace and security nationwide.

Musa further explained that the committee recommended the appointment of a chairman and the establishment of an ombudsman to adjudicate and arbitrate tax-related issues.

“The legislator also harped on the need for the establishment of a tax tribunal, which he said cannot be overemphasised.

“It is not a court of record. We have looked at the issue of VAT, collection of taxes, development levies, and inheritance tax, which had been expunged.

“I believe Nigerians will see something nice from this. We also commend the President for giving a level playing field to all,” Musa stated.

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