From Victor Osula, Abuja
The House of Representatives has adopted the tax bills transmitted to the National Assembly for consideration by President Bola Tinubu as a working document.
President Tinubu had, on October 13, transmitted four tax bills for consideration, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.
The Chairman of the House Committee on Finance, James Abiodun Faleke, presented the report during Thursday’s plenary, presided over by Speaker Tajudeen Abbas.
Presenting the report, Faleke said all contentious areas were well taken care of. He told the lawmakers that his committee recommended that VAT be based on consumption and retained at 7.5%
Faleke also disclosed that the committee recommended a repeal of the Federal Inland Revenue Service to establish the Nigeria Revenue Service. He said the Nigeria Revenue Service would be saddled with the responsibility of collecting revenues for the Federal Government of Nigeria.
He, however, expressed optimism that the Nigeria Revenue Service would enhance seamless tax harmonisation and administration.
Lawmakers had dissolved into the Committee of the Whole to consider the report on a clause-by-clause basis after the presentation of the report.
Rising from the Committee of the Whole, Speaker Abbass said that after deliberations on the clauses of the bill, the house adopted it as a working document.
Commending the Faleke-led Finance Committee, the Speaker said the report reflects the mind of Nigerians.
“All the 36 states, including the Federal Capital Territory, have their representatives in the sub-committee. This is the first time such a report is getting hundred percent approval by almost all members”, he said.
The adoption of the document came after the conclusion of a three-day public hearing on the Tax bills and the subsequent review of the memoranda presented to the committee, as well as inputs made by various stakeholders during the hearing.
The four Bills include “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 (HB.1756) (Referred: 12/2/2025).
“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 (HB.1757) (Referred: 12/2/2025).
“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 (HB.1758).
“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 (HB.1759).”
With the consideration and adoption, the bills are now set to be passed for third reading at the next legislative session.
