
President Bola Tinubu has indeed signed four landmark tax reform bills into law. This significant development aims to transform Nigeria's fiscal and revenue framework.
The four bills signed into law on Thursday, June 26, are.
- Nigeria Tax Bill (Ease of Doing Business): Consolidates Nigeria's fragmented tax laws into a harmonized statute, making it easier for businesses to operate.
- Nigeria Tax Administration Bill: Streamlines tax administration processes.
- Nigeria Revenue Service (Establishment) Bill: Outlines the framework for revenue service operations.
- Joint Revenue Board (Establishment) Bill: Provides a formal governance structure for cooperation between revenue authorities, introducing oversight mechanisms like the Tax Appeal Tribunal and Office of the Tax Ombudsman.
This move is expected to improve Nigeria's business environment and revenue collection.
The signing ceremony was attended by key officials, including the Chairman of the Governors Forum, the Chairman of the Progressives Governors Forum, the Minister of Finance, and the Attorney General of the Federation.
No comments:
Post a Comment