The members of the House of Representatives will begin to consider the recommendations of the Finance Committee on the four Fiscal Reform Law transmitted to the National Assembly.
The first bill seeks to provide evaluation, collection and accounting for accumulated income for the governments of the Federation, Federal, States and local; prescribes the powers and functions of the tax authorities, and for related matters.
The second bill seeks to repeal the Federal Internal Income Law (establishment), No.13, 2007 and promulgate the Nigerian Income Service Law (establishment) to establish the Nigerian income service, accused of powers of evaluation, collection and accounting of cumulative income for the Federation Government and related issues.
The third bill seeks to establish the Joint Income Board, the Tax Appeals Court and the Office of the Fiscal Ombud, for the harmonization, coordination and liquidation of disputes derived from the administration of income in Nigeria and for related matters.
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The fourth bill seeks to repeal certain acts on taxes and consolidate the legal frameworks related to taxes and promulgate Nigeria's Tax Law to provide income taxes, transactions and instruments, and related matters.
Details later …