The Chairman, House of Representatives Adhoc Committee On Tax Reform Bills, James Faleke has assured that the laws that the tax reform bills will birth, will be acceptable to all Nigerians.
Faleke, who spoke with newsmen in Abuja after the consideration and adoption of the report of his committee on the four tax bills, said the laws will revolutionize Nigeria’s tax system.
The consolidated bills are, Nigerian Tax Bill, the Tax Administration Bill, the Revenue Tax Board and the Nigerian Revenue Service establishment Bill.
He said, “These bills took three full days of public hearing, where we took memoranda from more than 80 critical stakeholders. After the three days, we resorted to a retreat for eight days, debating all the clauses in each of the bills.”
“I am glad that members of the house saw that we had done a thorough job and have approved all our recommendations.
“We want to appreciate our members and all Nigerians who showed interest in these bills, and we assure that the laws that will come after these bills acceptable by all Nigerians.”
The Committee chairman appreciated the leadership of the house for entrusting the committee with the responsibility of processing the tax bills and to lay them before the house and commended the President, Bola Tinubu for considering it worthy to amend Nigeria’s tax laws, noting that some of our tax laws are as old as 1959.
He said the nation cannot continue to operate with tax laws that are archaic to meet her demands for survival, business, and the revenue target that she seek to achieve.
