Tax reform bill: Nigerian lawmakers announce interactive session

Nigeria’s House of Representatives has announced that it will hold an interactive session on Monday to discuss President Bola Ahmed Tinubu’s tax reform bills.

Akin Rotimi, Spokesman of the House of Representatives, disclosed this in a statement on Sunday.

According to him, the interactive session is requisite to seek clarifications and understanding from Nigerians and stakeholders on the tax reform bills.

“The interactive session, scheduled for Monday, November 18, 2024, at the Temporary Chamber of the House of Representatives, will begin at 10:00 am prompt.

“It aims to provide Members of the House with a platform to engage directly with the principal promoters of the tax reform bills from the executive arm of government.

“Thus, this engagement will enable Honourable Members to seek clarifications, pose critical questions, and gain deeper insights into the proposed reforms. Such understanding is vital to strengthening the legislative process and enhancing Members’ contributions to the deliberations on these bills.

“Recognising the national significance of the proposed reforms and their implications for fiscal policy and governance,” he said.

This comes amid controversy that has trailed Tinubu’s tax reform bills in the past week.

Recall that on October 3, 2024, Tinubu sent four tax reform bills, including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill, to the National Assembly.

However, there have been oppositions to the bills.

First, the Northern Nigeria Governors’ Forum rejected the bill, especially on the proposed value-added tax derivation model in the Nigeria Tax Bill.

The National Economic Council also rejected the tax derivation model.

However, President Bola had insisted that the tax reform bills pass through normal proceedings at the National Assembly, whereby necessary inputs can be made.

Earlier, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, had explained that the tax reforms will bring about a fairer tax system in Nigeria.

DAILY POST reports that some Nigerian economists also backed Tinubu on the ground that the bills would boost the country’s revenue.

Tax reform bill: Nigerian lawmakers announce interactive session