Tinubu Sends Tax Reform Bills to National Assembly, Asks Parliament to Change FIRS to NRS

Sunday Aborisade in Abuja 

President Bola Tinubu Thursday sent four official communications to the two chambers of the National Assembly, requesting the federal parliament to consider and approve his tax reform bills.

One of the requests sought the renaming of the Federal Inland Revenue Service (FIRS), to Nigeria Revenue Service (NRS).

The request was contained in the Tinubu’s letter read at plenary by Senate President, Godswill Akpabio.

Titled, ” The Nigeria Revenue Service (Establishment) Bill, the proposed legislation, according to Tinubu, “seeks to repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007 and establishes the Nigeria Revenue Service, to assess, collect and account for revenue accruable to the government of the federation.”

The letter also contained another request titled, “The Nigeria Tax Bill which seeks to provide a consolidated fiscal framework for taxation in Nigeria.

It also contained “The Nigeria Tax Administration Bill,” which seeks to provide a clear and concise legal framework for the fair, consistent and efficient administration of all the tax laws to facilitate ease of tax compliance, reduce tax disputes and optimize revenue.

Another one is, “The Joint Revenue Board (Establishment) Bill,” which aims at establishing the Joint Revenue Board; the Tax Appeal Tribunal and the Office of The Tax Ombudsman for the harmonization, coordination and settlement of disputes arising from revenue administration in Nigeria.

Tinubu explained that the proposed tax bill presented substantial benefits to a library, government connectives and economic growth by enhancing tax payers compliance strengthening fiscal institutions, and fostering a more effective and transparent fiscal regime.

He said, “I am confident that the bill when passed, will encourage investment, boost consumer spending and stimulate Nigeria’s economic growth.”