Northern Senators Hold Exclusive Meeting To Deliberate On Tax Reform Proposals

Northern Senators Hold Exclusive Meeting To Deliberate On Tax Reform ProposalsNorthern Senators held a private, two-hour meeting on Thursday, following the Senate’s approval of the Tax Reform Bills for a second reading. The meeting, which took place in Room 301 of the National Assembly Complex, was briefly mentioned during the plenary session.....KINDLY READ THE FULL STORY HERE▶

However, the content of their discussions remains confidential, as Senator Abdulaziz Yar’Adua, Chairman of the Northern Senators Forum, declined to provide any comments after the meeting.

Earlier in the day, the Senate directed its Committee on Finance to organize a public hearing on the bills, inviting governors, the Governors Forum, traditional rulers, and other relevant stakeholders. The committee has been given six weeks to report back on the proceedings.

Senate Leader Opeyemi Bamidele (APC, Ekiti Central) led the debate on the four tax reform bills following an initial executive session. The bills include the Nigeria Tax Bill 2024, aimed at establishing the country’s fiscal taxation framework, and the Tax Administration Bill, which will provide a legal framework to streamline tax processes and reduce disputes. Other bills under consideration include the Nigeria Revenue Service Establishment Bill, which will replace the Federal Inland Revenue Service Act with the new Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which seeks to create a tax tribunal and appoint a tax ombudsman.

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