Representatives passed Tinubu’s controversial tax reform bill for a second reading.
Nigeria News Nalin It is reported that the tax reform bill proposed by President Bola Tinubu has passed the second reading of the House.
After a long debate on the floor of the house, the bill passed the second reading.
Four tax reform bills, Nigeria Joint Tax Commission, Bill 2024, Nigeria Tax Agency (Agencies) Act 2024, Nigeria Tax Management Act 2024 and 2024, aiming to overhaul the Nigerian tax system.
Despite widespread protests, Tinubu submitted a bill before the National Assembly in 2024.
Majority Leader Julius Ihonvbere, who debated Wednesday, commented on concerns arising from the bill and pointed out that the Nigerian Governor Forum NGF has solved the problem.
Ihonvbere said the house had held several meetings with different pre-elect meetings to address their concerns.
He also highlighted some of the benefits of billing, including tax exemptions for low-income earners.
After more than four hours of debate, the bill was then passed a second reading when Speaker Abbas Tajudeen voted.
The bill was later forwarded to the House Finance Committee for further legislative action.
The Tax Reform Act drafted by the Presidential Tax Reform and Fiscal Policy Committee is intended to overhaul Nigeria’s existing tax laws.
However, the bill faces strong opposition, mainly from the northern part of the country, especially from the northern governors, who described it as “anti-North”.
