Senate fixes Feb 24 for public hearing on tax reform bills

Senate fixes Feb 24 for public hearing on tax reform bills

The Senate will begin a two-day public hearing on the four tax reform bills presented by President Bola Tinubu to improve the nation’s tax administration.

The Senate Committee on Finance chairman, Sani Musa, said this at a news conference in Abuja on Wednesday.

Mr Musa, after a closed session with members of the committee, said that the public hearing would be held from February 24 to 25.

“We intend to take on two of the bills each day of the session for the press to be fully abreast with what we intend to do. The bills are the Nigeria Tax Bill, 2024 Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill,” stated the senator.

According to him, the bills will overhaul the tax administration and revenue generation in the country, as many of the provisions contained in them are landmark in nature.

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He said this would put Nigeria on the same pedestal as advanced economies, saying that infrastructure, education, agriculture and other sectors of the economy would be adequately taken care of with enough funds.

Mr Musa stated that the committee members had studied the bills and robustly engaged with several stakeholders before deciding to hold the public hearing.

He expressed the belief that the public hearing would go well, adding that President Bola Tinubu had repeatedly assured that he would not interfere in any of the processes of the tax reform bills.

“It is our duty as legislators to do the needful for the good of this country. We are all representatives of different tribes, religions, geography and we are Nigerians.

“What we will work towards giving Nigerians are laws that will put us on track economically. And by the grace of God, we will succeed,” he said.

Mr Musa added, “We have also invited the minister of petroleum resources, the chairman of Federal Inland Revenue Services and the statistician-general of the federation so that he will be able to come and give us his own submission.”

Mr Musa assured that the National Assembly would, at the end of the day, produce legislation on tax administration that would be acceptable to Nigerians.

Senate fixes Feb 24 for public hearing on tax reform bills

(NAN)