***Senate’s action awaited
The House of Representatives on Tuesday passed for the third reading the four Tax Reforms Bills the National Assembly received last October from the Executive arm of government.
The House, during plenary last Thursday, considered and approved the report of its Committee on Finance that worked on the Bills and the submissions received from Nigerians.
The Bills had generated a lot of controversy: northern leaders, the Nigeria Governors’ Forum (NGF) and other interest groups opposed some sections of the Bills.
During Tuesday’s plenary, House Leader Julius Ihonvbere moved for the Bills to be read for the third time.
He noted that “a Bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States and Local Governments; Prescribe the Powers and Functions of Tax Authorities, and for Related Matters” be read for the third time.
Ihonvbere also moved “That A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and Enact the Nigeria Revenue Service (Establishment) Bill to Establish Nigeria Revenue Service, charged with Powers of Assessment, Collection of, and Accounting for Revenue Accruable to the Government of the Federation and for Related Matters be read for the third time;
“A Bill for an Act to Establish Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the Harmonisation, Coordination and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters be read for the third time;
“A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to Provide For Taxation of Income, Transactions and Instruments, and for Related Matters be read for the third time”.
Members unanimously voted on the four Bills and they were read for the third time and passed.
The Bills will now be forwarded to the President for assent after their passage by the Senate and possible harmonasation of the Red and Green Chambers’ version.
The Bills had attracted serious opposition from members of the House, especially those from the North who argued that some provisions in the Bills were not in the interest of their people.
After a series of engagements brokered by Speaker Tajudeen Abbas, the House held a three-day public hearing followed by an eight-day retreat for members to fine-tune and collate the views of Nigerians before submitting their report to the House.
