The Senate has officially passed the remaining two tax reform bills, completing the legislative process for all four proposed tax reforms.
The bills, which are a key component of Nigeria’s fiscal policy overhaul, will now move forward to the harmonisation stage in the Senate and House conference committee before being sent to President Bola Ahmed Tinubu for final approval.
The passage of these bills is seen as a significant step in the government’s efforts to streamline the tax system, improve revenue collection, and enhance overall economic stability. The legislative process for these reforms has garnered attention due to the potential impact on businesses, individuals, and the national economy.
Once harmonised by the joint committee, the final version of the bills will be presented to President Tinubu, who is expected to review and sign them into law.
The successful passage of these bills is a critical development in Nigeria’s broader tax reform agenda, which aims to boost compliance, improve transparency, and ensure that the country’s tax system is more efficient and equitable.
Culled from The Guardian
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