The House of Representatives, on Tuesday, passed for third reading the four tax reform bills submitted to the National Assembly in October 2024, despite stiff opposition from key stakeholders.
The approval followed the consideration and adoption of the report by the House Committee on Finance, which reviewed the bills alongside submissions from Nigerians. The proposed reforms, aimed at overhauling the country’s tax system, have sparked intense debate, with Northern leaders, the Nigeria Governors Forum, and other interest groups voicing strong opposition to certain provisions.
While supporters argue that the bills will streamline tax administration, boost government revenue, and enhance ease of doing business, critics warn that some sections could impose undue burdens on businesses and state governments.
The bills will now be transmitted to the Senate for concurrence before being sent to the President for assent.
More details to follow…
