The Nigerian House of Representatives has scheduled an interactive session for Monday, November 18, 2024, to deliberate on President Bola Ahmed Tinubu’s proposed tax reform bills.
In a statement issued on Sunday, Akin Rotimi, the House Spokesman, said the session would allow lawmakers to engage stakeholders and the executive on the reforms.
“The interactive session, beginning at 10:00 am at the Temporary Chamber of the House, will provide members an opportunity to seek clarifications, pose critical questions, and gain deeper insights into the tax reform bills,” Rotimi explained.
The session is part of efforts to enhance the legislative process and address public concerns about the bills’ implications on fiscal policy and governance.
President Tinubu submitted four bills in October 2024: the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
While some economists have supported the reforms for their potential to boost government revenue, others, including the Northern Nigeria Governors’ Forum and the National Economic Council, have criticized aspects of the proposals, particularly the value-added tax derivation model.
Despite opposition, Tinubu has urged that the bills follow normal legislative proceedings to allow necessary inputs and adjustments.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has defended the proposals, emphasizing their goal of creating a fairer tax system.
The outcome of Monday’s session is expected to shape the trajectory of these critical reforms.
