Reps to Commence Debate on Tax Reforms Bills – Official
Deputy Spokesman for the House of Representatives, Rep. Philip Agbese (APC-Benue), says the house is set to commence debate on the four tax reforms bills initiated by President Bola Tinubu.
Agbese told newsmen in Abuja on a Saturday that members of the house had taken time to read through the bills. The bills are: Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill.
The bills seek to provide fiscal framework as well as clear and concise legal frameworks for all taxes in the country and reduce disputes in tax administration.
According to Agbese, Nigerians will remain grateful to the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacchaeus Adedeji, for the reforms.
He explained that the bills, presently before the chambers, intended to stimulate the country’s fiscal policy.
“Nigerians will appreciate very soon because when these bills are passed and the Federal Government has more money to spend, critical infrastructure will be developed, jobs will be created and, to a great extent, poverty will be reduced.
“We hope to debate these bills on Tuesday and we expect robust deliberations that will ultimately lead to the passage of the bills.
“Most of our colleagues have read the bills and as a result, they are now shifting grounds. Those initially opposed to the bills are now advocating for their speedy consideration and passage.
“When we converge next week, more supporters will have been won over, but I want to add that this is not only about lawmakers.
“These bills are about Nigerians, from the top company executive to the farmer in a rural village. I say this because public policy affects everyone,” he said.
“If passed into law, these bills will rejig the economy and ensure rapid development of critical infrastructure,” he said.
Agbese called on Nigerians to rally around the tax bills, adding that as lawmakers, the interest of the country surpassed individual or sectional consideration.
He commended Tinubu for championing a new direction of tax administration in the country, saying that Nigeria was going toward progressive taxation.
“If the tax bills are well implemented, we will have a new tax regime that takes away the burden from poor Nigerians and small companies; it is a new thinking that will do us good,” he said.
The lawmaker also commended the role played by the Chairman of Federal Inland Revenues Service (FIRS), Dr Zacch Adedeji, in initiating the bills.
He particularly lauded the FIRS boss for thinking creatively and championing reforms that would improve the nation’s revenue through effective tax administration.
The lawmaker said that FIRS, with Adedeji’s stewardship, had been surpassing its revenue target. According to him, FIRS collected a record N12.374 trillion in 2023, which was 10.7 per cent higher than its target of N10.7 trillion.
“Nigerians will appreciate this man very soon because when these bills are passed and the Federal Government has more money to spend, critical infrastructure will be developed, jobs will be created and, to a great extent, poverty will be reduced,” he said.
The deputy spokesperson stated that there were not many persons of Adedeji’s capacity in charge of government agencies.
He said that FIRS set a revenue target of N19.41 trillion for 2024 and that as of the end of September, it had already collected N18.5 trillion, which is so commendable.
NAN recalls that the Nigeria Governors’ Forum, comprising all the 36 state governors, had kick against the bills and called for their withdrawal from the parliament. #Reps to Commence Debate on Tax Reforms Bills – Official Naira Plunges on Suboptimal FX Intervention
