House Commences Debate On Tax Reform Bills

The House of Representatives has begun a public hearing on the proposed Tax Reform Bills, bringing together stakeholders from various sectors to contribute their inputs.

Declaring the 3-day public hearing open, the Speaker of the House, Dr. Tajudeen Abbas emphasized that the public hearing provides an opportunity for Nigerians to contribute to a tax system that improves socio-economic wellbeing.

Represented by the House Majority Leader Professor Julius Inhonvbere, Dr Abbass who reiterated that the 10th National Assembly will ensure the proposed tax reform bills align with Nigerian interests noted that the bills have the potential to improve the nation’s revenue base, foster an enabling environment for investors, and simplify tax collections.

Chairman of the House Committee on Finance, Mr. James Faleke, highlighted the need to amend outdated tax laws, stating that the proposed reforms will help reduce reliance on borrowing through effective tax collection.

The committee chairman assured that the input gathered from the public hearing will be carefully considered and incorporated into the bills to ensure that they serve the best interests of Nigerians.

Some of the stakeholders who attended the hearing in the Nigeria Customs Service, Trade Union Congress, Fiscal Responsibility Commission, LLNG, FIRS, among others.

Oduyemi Odumade, Edited By Grace Namiji