Still on Tinubu’s economic tax reform – By abiodun KOMOLAFE
Nigeria’s tax reform is underway with four Executive Bills currently before the National Assembly. These bills are the ‘Nigeria Tax Bill’, which replaces existing tax law with a modern framework; the ‘Nigeria Tax Administration Act Amendment Bill’, which seeks to strengthen the enforcement powers of the Federal Inland Revenue Service (FIRS); the ‘Nigeria Revenue Service Bill’, establishing an independent revenue service; and the ‘Joint Revenue Board Establishment Bill’, for the purpose of fostering inter-agency collaboration. According to Zacch Adedeji, the FIRS Executive Chairman, the reform focuses on reducing the number of taxes paid by Nigerians. This significant transformation under President…
