THE House of Representatives on Tuesday, March 18, passed the four tax reform bills transmitted to it by President Bola Tinubu in October 2024.

The passage followed the House consideration and approval of its Committee on Finance report on the bills submitted on Thursday, March 13.

The committee had adjusted some sections of the bills and made recommendations to the House for review and approval.

The ICIR reported that the Green Chamber, upon receipt of the committee’s report, adopted the controversial bills as a working document.

Part of the contentious issues included the provisions on inheritance tax, value-added tax (VAT) rate and distribution formula.

Other contentious issues also include the clause on continuous funding of the Tertiary Education Trust Fund (TETFUND), National Agency for Science and Engineering Infrastructure (NASENI), and National Information Technology Development Agency (NITDA) from the development levies fund.

The ICIR reports that Tinubu had in October 2024 transmitted the tax reform bills to the National Assembly.

The bills include the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment Bill), the Joint Revenue Board Bill, and the Nigeria Tax Bill.

The bills generated a lot of controversies, resentments, and scepticism in the public space and among stakeholders, groups, and individuals, which later led to wider consultations and discussions among various interest groups at various levels, many of whom made submissions at a public hearing in the National Assembly.

But during its committee’s clause-by-clause consideration of the bills, it adjusted some of the clauses.

At the plenary on Tuesday, the House Leader, Julius Ihonvbere, reportedly moved for the bills to be read for the third time.

He said, “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 be read for the third time.

“That 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 be read for the third time.

“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, be read for the third time.

“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 Related Matters be read for the third time”.

The four bills were unanimously endorsed by members, and read for the third time as passed.

With the passage of the bills by the House, Nigerians now await concurrence from the Senate before the bills can be returned to the president for his assent which makes them become laws.