According to the deputy spokesman for the House of Representatives, Philip Agbese (APC-Benue), the lower chamber is set to commence debate on the four tax reform bills proposed by President Bola Tinubu.
Meanwhile, the bills are the Nigeria Tax Bill 2024, Tax Administration Bill, Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill.
The bills aim to provide a fiscal framework and clear and concise legal frameworks for all taxes and reduce disputes in tax administration.
According to the lawmaker, Nigerians will remain grateful to the Federal Inland Revenue Service (FIRS) executive chairman, Zacchaeus Adedeji, for the reforms.
“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,” Agbese explained further.
He emphasized that the bills, presently before the chambers, intended to stimulate the country’s fiscal policy.
“Nigerians will appreciate it 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.
“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 added.
Mr Agbese appealed to Nigerians to support the tax bills, stressing that as lawmakers, the interest of the country supersedes individual or sectional consideration.
He lauded President Bola Tinubu for initiating a new direction of tax administration in the country, saying 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 particularly commended the FIRS boss for thinking creatively and championing reforms that would improve the nation’s revenue through effective tax administration.
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.
He said 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 commendable.
Meanwhile, this development is coming amid kicks by some lawmakers, particularly at the upper Chambers where Sanator Ali Ndume of Borno state vehemently challenged the initiation of the bill.
