The Senate has passed two major tax reform bills, marking a significant milestone in the ongoing overhaul of the nation’s tax administration framework.
The two bills, one seeking to repeal the Federal Inland Revenue Service (Establishment) Act and another – to establish the Joint Revenue Board (Establishment) Bill 2025 along with the Nigeria Revenue Service Bill 2025, were passed on Wednesday, following a clause-by-clause consideration during the Committee of the Whole and their subsequent third reading on the Senate floor.
Recall that President Bola Ahmed Tinubu had in October 2024 transmitted four tax reform bills to the National Assembly for consideration and passage.
Senate President, Godswill Akpabio says he is optimism that the reform bills would not only enhance governance but also revolutionise tax collection and distribution across the country.
He further assured that the remaining two bills would be finalized today; even if it takes extending sitting hours.
News Edited by Oni Philips Kayode