News Update
President Bola Tinubu has signed four tax reform bills into law, signalling what he described as a bold new era of economic governance in the country.
The President signed the bills in the presence of principal officers of the National Assembly, including Senate President, Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abbas, among others.
Tinubu explained that the reforms will go beyond streamlining tax codes.
According to him, the reforms are meant to deliver the first major, pro-people tax cuts in a generation.
Specifically, he said they will provide targeted relief for low-income earners, small businesses and families working hard to make ends meet.
The four bills, which are now Acts, are the Nigeria Tax Bill (Fair Taxation), Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Tinubu said the policy will unify the country’s fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.
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