The House of Representatives, on Thursday, March 13, on October 8, 2024, was reviewed and approved by the House Finance Committee’s report, and finally moved towards the four tax incentive bills that President Bola Ahmed Tinubu finally passed.
Four bills will now be read for the third time before the final pass.
These bills include the Nigerian Taxation Office (Agencies) Act, the Nigerian Tax Act, the Nigerian Tax Administration Act and the Joint Taxation Commission (Installation) Act.
The four bills were read for the first time on October 8, 2024, but debates about the bill have been put on the House as members have been on the content of the Northern Leaders and Nigerian Governors Forum against the Nigerian Tax Management Act.
James Abiodun Faleke introduced the Chair of the House Finance Committee, introducing the report for members to consider, and said that all disputed areas of the bill have been resolved.
These bills include a bill that requires the assessment, collection and accounting of revenues of federal, federal, state and local governments; stipulate the powers and functions of tax authorities, related matters, and the repeal of the Federal Inland Tax Services Act No. 13 of 2007 (establishment) Act (establishment) Act and promulgate the Nigerian Tax Services Agency (establishment) and the Nigerian Tax Services Agency and to assess the powers, collect and be responsible for the scope and temporary competition related to the government.
Others are bills, a bill to establish the offices of the Joint Revenue Committee, the Tax Appeal Tribunal and the Tax Supervision Commission, the harmonization of Nigeria’s revenue management and related conduct, coordination and resolution of disputes, and a bill to collect taxes and tax frameworks for taxation and taxation and taxation inclusion and taxation inclusion and taxation inclusion.
