The Senate has received President Bola Tinubu’s communication seeking consideration and passage of the proposed Fiscal Policy and Tax Reform Bill to align with ongoing financial reforms of the Federal Government and enhance efficiency in tax compliance.
In a letter read at plenary by Speaker Abbas Tajudeen on Thursday, the President said the bills were designed in line with the objectives of his administration.
The bills are the Nigeria Tax Bill 2024, which is expected to provide the fiscal work for tax in the country and tax administration bill which will provide clear and concise legal framework for all taxes in the country and reduce disputes.
The others are Nigeria Revenue Service establishment bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service and the Joint Revenue Board establishment bill which will create a tax tribunal and a tax ombudsman.
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He said the bills will strengthen fiscal institutions in the country and align with the objective of the government.