Senate set for public hearing on Tax Reform Bills 

The Senate through its committee on Finance  will Monday and Tuesday next week  carry out public hearing on Tax Reforms Bills forwarded to both chambers on October 3rd , 2024 by President Bola Tinubu.

The tax reform bills which are : The Nigeria Tax Bill (NTB) 2024, The Nigeria Tax Administration Bill (NTAB) 2024, (iii), The Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024  and The Joint Revenue Board (Establishment) Bill (JRBEB) 2024, were passed for second reading in the Senate on 28th of November, 2024 and forwarded to the Committee on Finance for more legislative inputs through public hearing.

Briefing journalists Wednesday after a closed door meeting held with members of  the committee ahead of the public hearing, the chairman, Senator Mohammed Sani Musa (Niger East ), the slated public hearing is coming after wide consultations made with relevant stakeholders.

Sani Musa said the bills on Joint Revenue Board Establishment Bill and Nigerian Revenue Services Bill, will be deliberated upon on Monday while the one on Nigerian Tax Administration and Nigeria Tax bill, will be focused upon on Tuesday.

He said for thorough consideration of the bills aiming at changing the dynamics of the nation’s economy, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun , the Attorney – General of the Federation, Lateef Fagbemi (SAN), chairman of Federal Inland Revenue Service, Zacch Adedeji, Statistician General of the Federation and Chief Executive, National Bureau of Statistics, Prince Adeyemi Adeniran, the Minister of Petroleum and his counterpart in the Ministry of Trade and Investment etc, are expected at the public hearing.

He said, “The committee is inviting Nigerians totaling 71 different groups of stakeholders for  the very important public hearing.

“Both the Senate and the House of Representatives have done the second reading on the reform bills and are ready for the public hearing.

“The bills have been read by all members of the committee with better understanding of what they are aimed at, like in the areas of tax administration , collection and operations  in Nigeria.”