After about one hour of brainstorming during a closed-door session, senators at the National Assembly on Thursday unanimously passed the controversial Tax Bill for Second Reading, indicating that the massive opposition being mounted against it by some stakeholders, especially from the North, could be fast receding.
In fact, some Northern Senators, including Ali Ndume and Abdul Ningi, Borno South and Bauchi Central, respectively, had staged a walk-out after a rowdy atmosphere that had to do with issues around the bill and the procedure that were being adopted, on Wednesday, though calm was eventually restored after they were placated.
But the issues seemed to have received showers of cold water as the Bill eventually scaled Second Reading during plenary on Thursday, with Godswill Akpabio sending it to the Committee on Finance led by Sani Musa, Niger East to carry out other legislative action and report back in six weeks.
Opeyemi Bamidele (APC Ekiti Central), who presented the general principles of the Bill, had told the Senators named the document as: “A Bill for an Act to Establish the Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the harmonization, coordination and settlement of disputes arising from revenue administration in Nigeria and for related matters, 2024 (SB. 583).
“A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and enact the Nigeria Revenue Service (Establishment) Act to Establish the 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, 2024 (SB. 584)
“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, 2024 (SB. 585) – and
“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, 2024 (SB. 586).”
Akpabio, had also highlighted that the Bill would witness a public hearing, where experts as various state governors under the aegis of Nigeria Governors Forum (NGF), traditional rulers and other stakeholders, would be invited to give their views adding that at the end of the day, the nation would always be expecting the best from their lawmakers.
President Bola Tinubu, had on September 3, transmitted four tax reform bills to the National Assembly 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, including the Nigeria Tax Bill 2024, expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, expected to provide a clear and concise legal framework for all taxes in the country and reduce disputes.
The move also saw the presentation of the Nigeria Revenue Service Establishment Bill, slated to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, to create a tax tribunal and a tax ombudsman.
Also recall that the same day, both the Senate and the House of Representatives embarked on the hurried recess, the National Economic Council (NEC), chaired by Vice President Kashim Shettima, resolved that the Bills should be withdrawn from the National Assembly by the President for wider consultation.