Reps Pass President Tinubu’s Tax Reform Bills

On Tuesday, March 18, 2025, the House of Representatives approved the four tax reform bills that President Bola Ahmed Tinubu submitted to the National Assembly in October 2024.

It is worth noting that last Thursday, the House reviewed and endorsed the report from the House Committee on Finance, which included several recommendations, especially concerning contentious issues like the Value Added Tax and inheritance tax.

As the Senate prepares to consider the bills, the anticipated reforms are expected to be sent to the President for his approval in the near future.

The reforms are expected to bring significant changes to Nigeria’s tax framework, addressing key areas like revenue collection, tax dispute resolution, and the establishment of new institutions to manage tax-related matters.

The tax reform bills passed by the Reps on Tuesday include:

HB.1756 – A Bill to Provide for the Assessment, Collection, and Accounting of Revenue for Federal, State, and Local Governments, Prescribing the Powers and Functions of Tax Authorities, and for Related Matters.

HB.1757 – A Bill to Repeal the Federal Inland Revenue Service (FIRS) Act and Establish the Nigeria Revenue Service to Manage the Assessment, Collection, and Accounting for Revenue Accruable to the Government of the Federation.

Don’t miss out on any real-time information. Join our WhatsApp group to stay updated.

CLICK HERE TO JOIN

HB.1758 – A Bill to Establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud, Aimed at Harmonising, Coordinating, and Settling Disputes Arising from Revenue Administration in Nigeria.

HB.1759 – A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation, Enacting the Nigeria Tax Act to Provide for Taxation of Income, Transactions, and Instruments, and for Related Matters.