Tax Reform Bills Near Passage as Senate, FIRS Resolve Key Issues

Nigeria’s Senate advances tax reform bills as key stakeholders, including FIRS and the Attorney General, reach consensus. Read the latest updates on NIGPOST.

The Nigerian Senate is set to pass the highly anticipated tax reform bills as significant progress has been made in resolving contentious issues among key stakeholders.

Speaking at a press briefing, Senator Abba Moro, Chair of the Senate’s Ad Hoc Committee on Tax Reform, announced that public hearings on the bills would soon take place, clearing the path for a third reading.

Moro disclosed that collaborative efforts involving the Attorney General of the Federation, Lateef Fagbemi (SAN); Federal Inland Revenue Service (FIRS) Chairman, Zacch Adedeji; and other fiscal policy leaders had resulted in substantial progress.

“We’ve engaged with the Attorney General, the FIRS Chairman, and other stakeholders to harmonize our positions. Our goal is to deliver a law that truly serves all Nigerians,” Moro stated.

FIRS Chairman Zacch Adedeji echoed Moro’s optimism, revealing that the discussions had successfully addressed previously unresolved areas of concern.

“All grey areas were clarified during our meetings. The engagement has been productive, and we are on track to modernize Nigeria’s tax framework for better revenue generation,” Adedeji added.

The proposed tax reforms aim to streamline the country’s revenue mobilization processes and create a more efficient and equitable tax system. Despite the progress, opposition to the bills, particularly from Northern regions, remains strong.

Moro assured Nigerians that the committee’s efforts prioritize inclusivity and transparency.

“The reforms are necessary for our country’s economic growth, and we are committed to creating a framework that works for everyone,” he affirmed.

These reforms are expected to significantly enhance revenue collection and establish a more robust tax framework, marking a pivotal moment for Nigeria’s fiscal policies.

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