JamzNG Latest News, Gist, Entertainment in Nigeria
The National Assembly has indicated a plan to pass the tax reform bill that is harmonized on Tuesday, following the success of the controversial problem resolution in the proposed law.
This update was revealed by the Chairperson of the DPR Committee for Finance, James Faleke, on Sunday through his official X account.
Faleke, who led the DPR’s delegation during the harmonization process, wrote: “The Conference Committee formed by the Parliament and the Senate on the Tax Reform Bill has succeeded in concluding their work. The joint committee thoroughly reviews all parts and discusses the gray area of the four bills, examining each strategic clause and resolving fighting problems.
“After an intensive deliberation that stretches until Thursday night, throughout Friday, and until early Saturday, I am happy to report that bills are now ready to present to the DPR and Senate for the end.
Also read: PDP Postponed the 99th NEC Meeting to Enable Reconciliation Efforts
“I want to specifically appreciate the Senate Conference Committee, capable of being led by the Chairperson of the Senate Committee on Finance, the leading senator Sani Musa, as well as all members of the Senate Conference Committee.
“I also expressed their sincere gratitude to my colleagues at the DPR Conference Committee, which I respect to lead, for their unrucky commitment to the Nigerians. We are really grateful for your dedication and resilience in bringing this important task to the conclusion.”
Two weeks ago, four tax bills were submitted to the combined harmonization committee consisting of members of the Senate and the House of Representatives, who were assigned to reconcile the two rooms amendments before forwarding it to the President of Bola Tinubu for approval.
After announcing the ratification of the bill through the majority ballot, the President of the Senate Godswill Akpabio praised MPs for their dedication to ensure that the Nigerian tax system was in harmony with global standards.
“These four executive bills are trying to change and modernize the tax system in Nigeria,” he said.
The milestone came only a day after the Senate completed two bills and moved the remaining laws to be considered on Thursday.
Speaking to reporters after the plenary, Senator Sani Musa, Chair of the Ad Hoc Committee for the Tax Reform Bill and the East Niger Senatorial District Representative Bill, described the broad impact of the harmonization process.
He said the parts of the tax results would be used to fight cyberspace crimes, strengthen defense infrastructure, support tetfund, and increase army efforts to restore national peace and security.
Musa further explained that the committee recommended the appointment of the chairman and the formation of the Ombudsman to prosecute and mediate tax -related issues.
“The legislator also teaches the need for the establishment of the Tax Court, which he said cannot be too emphasized.
“This is not a court note. We have seen the issue of VAT, tax collection, development levies, and inheritance tax, which have been abolished.
“I believe the Nigerians will see something fun about this. We also praise the President for giving a flat play field for all,” Musa said.
Join the conversation
Supports Nigeria’s ripples, resistant Journalism Solutions
A balanced and fearful journalism that is driven by data comes with enormous financial costs.
As a media platform, we ask for leadership accountability and will not trade the right to suppress freedom and freedom of speech for a piece of cake.
If you like what we do, and ready to uphold journalism solutions, friendly Nigerian ripples cause.
Your support will help ensure that residents and institutions continue to have free access to credible and reliable information for community development.
Donation now
