{"id":6570,"date":"2025-05-26T10:22:42","date_gmt":"2025-05-26T10:22:42","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=6570"},"modified":"2025-05-26T10:22:42","modified_gmt":"2025-05-26T10:22:42","slug":"national-assembly-to-pass-harmonised-tax-reform-bills-by-tuesday","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2025\/05\/26\/national-assembly-to-pass-harmonised-tax-reform-bills-by-tuesday\/","title":{"rendered":"National Assembly To Pass Harmonised Tax Reform Bills By Tuesday"},"content":{"rendered":"
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The National Assembly has indicated that it may pass the harmonised tax reform bills by Tuesday, following the successful resolution of contentious clauses in the proposed legislation.<\/h3>\n

The Chairman of the House Committee on Finance, James Faleke, made this known via his official \ud835\udd4f account on Sunday, revealing that the review process had been completed.<\/p>\n

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Faleke, who also led the House delegation for the bills\u2019 harmonisation exercise, posted that the Conference Committee, made up of members from both the House of Representatives and the Senate, had thoroughly reviewed all sections of the tax reform bills.<\/p>\n

\u201cThe Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work.<\/em><\/p>\n

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\u201cThe joint committees thoroughly reviewed all sections and addressed the grey areas of the four Bills, examining each clause strategically and resolving contentious issues,\u201d<\/em>\u00a0Faleke stated.<\/p>\n

Faleke also highlighted the hard work of the committee, which carried out intense deliberations through Thursday night, all of Friday, and into the early hours of Saturday. He expressed satisfaction that the bills were now ready for presentation to both chambers for final passage.<\/p>\n

The Chairman of the House Committee on Finance also extended his appreciation to the members of both the Senate and House Conference Committees, particularly praising the leadership of the Senate Committee on Finance under Senator Sani Musa.<\/p>\n

Faleke said,\u00a0\u201cI would like to especially appreciate the Senate Conference Committee, ably led by the Chairman of the Senate Committee on Finance, the Distinguished Senator Sani Musa.<\/em><\/p>\n

\u201cI also extend heartfelt gratitude to my colleagues on the House Conference Committee, which I had the honour to lead, for their unwavering commitment to the Nigerian people.\u201d<\/em><\/p>\n

The tax reform bills, which were sent to the joint harmonisation committee two weeks ago, aim to modernise and transform Nigeria\u2019s tax system and ensure it meets international standards. Following the completion of the review process, the bills are now ready for final consideration before being transmitted to President Bola Tinubu for assent.<\/p>\n

The Senate President, Godswill Akpabio, had earlier praised lawmakers for their dedication to ensuring the country\u2019s tax system meets global standards.<\/p>\n

\u201cThese four executive bills seek to transform and modernise the tax system in Nigeria,\u201d<\/em>\u00a0Akpabio said after the majority voice vote in the Senate.<\/p>\n

The Chairman of the ad hoc committee for the tax reform bills,\u00a0Sani Musa<\/strong>, explained after the plenary that the bills would also help fund crucial national efforts.<\/p>\n

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\u201cParts of the tax proceeds will be used to fight cybercrime, boost defence infrastructure, TETfund, and aid soldiers in their efforts to restore peace and safety in the country,\u201d<\/em>\u00a0Musa said.<\/p>\n

The Niger East Senator also noted that the reform would establish an ombudsman to oversee tax-related matters and stressed the importance of setting up a tax tribunal.<\/p>\n

Musa addressed key areas of the reform, including VAT, tax collection, development levies, and inheritance tax, which had previously been expunged. He expressed confidence that Nigerians would see positive outcomes from the tax reforms.<\/p>\n

\u201cI believe Nigerians will see something nice from this. We also commend the President for giving a level playing field to all,\u201d<\/em>\u00a0he said.<\/p>\n<\/div>\n

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The National Assembly has indicated that it may pass the harmonised tax reform bills by Tuesday, following the successful resolution of contentious clauses in the proposed legislation. The Chairman of the House Committee on...<\/p>\n","protected":false},"author":2,"featured_media":6571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=6570"}],"version-history":[{"count":1,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6570\/revisions"}],"predecessor-version":[{"id":6572,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6570\/revisions\/6572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media\/6571"}],"wp:attachment":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}