President Bola Tinubu will on Thursday sign four landmark tax bills into law in a major shake-up of Nigeria’s fiscal and revenue systems.
The bills; Nigeria Tax Bill, Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill, recently cleared by the National Assembly, are designed to simplify tax processes, boost government revenue, and attract investment.
The signing ceremony, scheduled for the Presidential Villa in Abuja, will draw top government dignitaries including the Senate President, House Speaker, Finance Minister, and the Attorney General.
At the heart of the reforms:
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The Nigeria Tax Bill aims to consolidate scattered tax laws to enhance the ease of doing business.
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The Tax Administration Bill introduces a uniform tax framework across federal, state, and local governments.
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The Nigeria Revenue Service Bill will scrap the FIRS and replace it with a more autonomous and efficient Nigeria Revenue Service (NRS).
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The Joint Revenue Board Bill creates formal synergy among all tax authorities and introduces a Tax Appeal Tribunal and Tax Ombudsman for oversight.
