Senate begins public hearing on Tax Reform Bills Feb. 24
Senate begins public hearing on Tax Reform Bills Feb. 24
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.
Chairman of Senate Committee on Finance, Sen. Sani Musa, said this at a news conference in Abuja on Wednesday.
Sani after a closed session with members of the committee said that the public hearing would hold on Feb. 24 and Feb. 25.
“We intend to take on two of the bills on each day of the session for the press to be fully abreast with what we intend to do.
“The bills are: Nigeria Tax Bill, 2024; Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill and Joint Revenue Board Establishment Bill.
The bills, according to him, will overhaul the tax administration and revenue generation in the country, as many of the provisions contained in them are landmark in nature.
This, he said, would put Nigeria on the same pedestal with advanced economies, saying that infrastructure, education, agriculture and other sectors of the economy would be adequately taken care of with enough funds.
Sani said that the committee members had studied the bills and had a robust engagement with several stakeholders before deciding to hold the public hearing.
He expressed the belief that the public hearing would go on well, adding that President Bola Tinubu had repeatedly assured that he would not interfere in any of the processes on the tax reform bills.
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“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.
He listed those invited to the public hearing to include: the Federal Minister of Finance and Coordinating Minister of Economy, the Minister of Trade and Investment and the Attorney-General of the Federation.
“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,” he said.
Sani assured that the National Assembly would, at the end of the day, produce legislations on tax administration that would be acceptable to Nigerians.
