By Jemimah Wellington, JKNewsMedia Correspondent
NIGERIA’s TAX system is poised for a historic overhaul as four reform bills await presidential assent at a formal signing ceremony at the Presidential Villa in Abuja on Thursday.
The Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill, all recently passed by the National Assembly, are expected to usher in a new era of streamlined revenue collection and improved fiscal transparency.
The legislation followed extensive consultation with stakeholders across economic and governance sectors.
Once enacted, the new laws will consolidate fragmented tax statutes, establish uniform administration frameworks, and strengthen oversight mechanisms.
Aimed at boosting government revenue while easing compliance for taxpayers, the reforms are expected to enhance Nigeria’s investment climate and business efficiency.
Among the key provisions is the Nigeria Tax Bill (Ease of Doing Business), designed to harmonise multiple tax laws and reduce the duplication of taxes across government tiers.
It sets a clear path for improving the ease of doing business by lowering compliance costs and creating predictability for investors.
The Nigeria Tax Administration Bill introduces a standard legal and operational framework to unify tax administration practices across federal, state, and local levels.
Its provisions target systemic inefficiencies and promote coordinated revenue efforts.
The Nigeria Revenue Service (Establishment) Bill repeals the Federal Inland Revenue Service Act and establishes the Nigeria Revenue Service as a more autonomous, performance-driven entity.
The new body will also assume responsibility for non-tax revenues and implement transparent, accountable procedures to drive efficiency.
The Joint Revenue Board (Establishment) Bill sets up a formal governance structure to foster collaboration among all revenue-generating authorities.
It mandates the creation of a Tax Appeal Tribunal and an Office of the Tax Ombudsman to strengthen checks and balances in revenue processes.
The President will be joined at the signing by the Senate President, Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abbas, Majority Leaders of both chambers, chairmen of the finance committees, and key figures from the executive arm, including the Minister of Finance, Attorney General of the Federation, and leaders of the Governors Forum.
