The Senate has passed all four major tax reform bills aimed at overhauling Nigeria’s tax administration, marking a significant milestone in the federal government’s efforts to modernise the nation’s fiscal framework.
Deliberations began during Wednesday’s plenary, where lawmakers considered the reports on the proposed legislation. Two of the bills were passed, while consideration of the remaining two was deferred to Thursday. By the close of Thursday’s session, all four executive-sponsored bills had been successfully passed.
According to the Senate, the reforms are designed to transform the country’s outdated tax system, enhance efficiency, and strengthen revenue collection.
A conference committee has been set up to harmonise the Senate’s versions with those passed by the House of Representatives. Once alignment is achieved, the bills will be transmitted to President Bola Ahmed Tinubu for assent.
This development marks a crucial step toward establishing a more transparent, effective, and growth-oriented tax regime in Nigeria.
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