Senate nears Public Hearing on Tax Reform Bills

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The Senate is poised to hold a public hearing on the Tax Reform Bills, aiming for a third reading and eventual passage, following extensive discussions with key government officials.

At a closed-door session on Monday, the Senate Ad-hoc Committee on Tax Reform, chaired by Senator Abba Moro, met with officials including Attorney General of the Federation Lateef Fagbemi (SAN), FIRS Chairman Zacch Adedeji, and others. The committee, formed last December, has focused on resolving contentious aspects of the proposed legislation.

Senator Moro confirmed progress:
“We’ve reached agreements after thorough discussions. Our aim is to deliver a law that benefits all Nigerians.”

FIRS Chairman Adedeji also expressed optimism, stating, “Grey areas were clarified. We’re moving forward with consensus on the necessity of these reforms.”

The bills, designed to enhance revenue collection and streamline Nigeria’s tax system, mark a pivotal step toward fiscal reform.