The Nigerian Senate has passed the final two tax reform bills put forward by President Bola Tinubu, completing the approval process for all four bills in the tax reform package.
The newly approved bills are the Nigeria Tax Bill 2024 and the Joint Revenue Board Establishment Bill. According to Premium Times, senators reviewed and debated these bills during the Committee of the Whole before voting on them.
Senate President Godswill Akpabio confirmed the bills passed after most senators supported them through a voice vote, where lawmakers indicate their position by saying “aye” or “nay”.
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Mr Akpabio announced that the Senate will now form a committee to work with the House of Representatives to combine their versions of the bills. Once both chambers agree on the final versions, the bills will be sent to President Tinubu to sign into law.
The Senate had already passed the first two bills in the package on Wednesday—the Nigeria Revenue Service Establishment Bill and the Tax Administration Bill.
With today’s vote, the Senate has now successfully approved all four tax reform bills that form part of the President’s economic reform agenda.
(Business Day)
