Accordingly, the House Committee retained the value-added tax at 7.5 percent instead of the proposed 15 percent.
Nigeria’s House of Representatives has approved President Bola Tinubu’s four tax reform bills.
This was passed on Tuesday for third reading.
This comes after the House had, at plenary last Thursday, considered and approved the report of the House Committee on Finance that worked on the bills and the submissions received from Nigerians.
Accordingly, the House Committee retained the value-added tax at 7.5 percent instead of the proposed 15 percent.
Recall that the four tax reform bills—including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill—sent to the National Assembly have been the subject of controversies in the past months.
The earliest opposition to the bills came from the Northern Nigeria Governors’ Forum. The governors opposed the proposed value-added tax derivation model in the Nigeria Tax Bill, while the National Economic Council also opposed the tax derivation model.
President Tinubu, had in October 2024, submitted the four bills before the National Assembly.
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