The House of Representatives has resumed debate on the tax reform bills introduced by President Bola Tinubu.
Last year, the debate on the bills was suspended due to strong opposition from some governors, particularly from the north, regarding the Value Added Tax (VAT) sharing formula.
However, the governors have since reversed their stance and outlined conditions under which they would support the bills.
Presenting the motion for a second reading on Wednesday, House Leader Julius Ihonvbere emphasized that the debate’s resumption took into account the governors’ positions on the bills.
Meanwhile, the bills have already passed their second reading in the Senate and have been sent to the Committee on Finance.
The tax reform bills have successfully passed their second reading in the House of Representatives.
The four bills — the Nigeria Tax Bill, the Tax Administration Bill, the Joint Revenue Board Establishment Bill, and the Nigeria Revenue Service Bill — cleared the second reading on Wednesday following a thorough debate among lawmakers.
More details to come…..
