President Bola Tinubu has given his assent to four tax reform bills passed by the National Assembly, marking a significant step toward reshaping Nigeria’s tax system.
The short ceremony which took place at the Presidential Villa on Thursday was attended by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The four bills: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill were passed by the National Assembly after extensive consultations with various interest groups and stakeholders.
According to the presidency, the new tax laws will significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.
