JUST-IN: Reps Pass Tax Reform Bills

The four tax reforms bills sent to the National Assembly by President Bola Tinubu on Tuesday passed for third reading at the House of Representatives

The bills were forwarded to the National Assembly by the President in October 2024 but were greeted with different controversies, resulting in national debates.

The Reps had at plenary on Thursday, considered and approved the report of the House Committee on Finance that worked on the bills and the submissions received from Nigerians.

Northern Leaders, stakeholders and governors under the umbrella of the Nigeria Governors Forum among other interest groups faulted some sections of the bills.

This led to advocacy for further consultation with stakeholders to resolve the grey areas contained in the bills concerning Value Added Tax (VAT) sharing formula as well as concerns raised that the bills could lead to scrapping of certain agencies of government as presented.