The coast is reportedly clear for the controversial Tax Reform Bill passage in the Senate.
NewsOnline Nigeria reports that strong indications have emerged that the Tax Reform bills presently before the Senate and the House of Representatives will be passed by the lawmakers.
Speaking yesterday to Journalists after a meeting with the Federal Government, the Minority Leader and Chairman of the Ad – hoc committee set up by the Senate in December last year for required interface with the federal government on grey areas in some of the provisions of the proposed tax reform, Senator Abba Moro, PDP, Benue South said that public hearing on the Tax Reform Bills will soon be held and presented for passage for third reading.
Moro spoke after over two hours of closed-door session his committee had with the Attorney-General of the Federation, Lateef Fagbemi ( SAN), Chairman of Federal Inland Revenue Service ( FIRS) Mr Zacch Adedeji, Chairman of Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele and Chairman of Revenue Mobilization Allocation and Fiscal Commission ( RMAFC) Dr Mohammed Bello Shehu.
The Minority leader who noted that some agreements have been reached, said, “We just had a meeting and interface with the officials of government, the Attorney General of the Federation, the Chairman of RMAFC, FIRS Chairman, and in the process of evaluating the contending tendencies regarding the tax bills.
” We have agreed amongst ourselves that we must synthesize the whole processes to ensure that at the end of the day we give to Nigerians what Nigerians want and that is a law that serves the purpose of all Nigerians.
” So that is where we are now and hopefully by the time we meet again we will finalize and we will have some better story to tell you.”
Also speaking with Journalists after the meeting, the FIRS boss disclosed that the perceived grey areas have been cleared and based on positive dispositions shown by members of the committee to the bills, they will surely pass them into law very soon.
Adedeji said: ” All those things you call grey areas were discussed, identified and then as you said that the advisory so the judgment is not to be made, it’s just for us to continue the engagement, the consultation which based on your observation, has been positive.
“So we are in the right direction and everything is going as planned. There won’t be any other further meeting because all issues were identified, all the issues were clarified and then resolutions were made.
” To the best of my knowledge, everybody there agreed that Nigeria needs the laws as proposed .
“So what has happened today is that you see the framework of the law, you see the attorney general, you see the lawmakers and all of us the operators and everything went well “
Recall that on October 3, 2024, President Tinubu transmitted four tax reform bills to the National Assembly for consideration, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.
The bills include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.
Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.
Also recall that the same day, both the Senate and the House of Representatives embarked on the hurried recess, the National Economic Council ( NEC ) chaired by Vice President Kashim Shettima, resolved that the tax reform bills should be withdrawn from the National Assembly by President Tinubu for wider consultation.
But President Tinubu on Thursday, 31st October 2024, responded to the request that the bills should be allowed to pass through the required legislative processes at both chambers which according to him, will give concerned Nigerians the opportunity to get details on the bills and make their inputs, particularly at the stage of Public hearing.
Also recall that the bills were passed for a second reading in the Senate on the 28th of November, 2024.
