Senate halts tax reform bills, public hearing
The Senate has put the tax reform bills currently before it on hold and has consequently instructed the Committee on Finance to also stay action on the public hearing, pending when the controversy surrounding the bills in the public space is addressed.
Also, the Senate has constituted a special committee to meet with the executive branch and work with the Federal Government to resolve the issues surrounding the bills.
This was disclosed by the Deputy Senate President, Jibrin Barau, who presided during the plenary on Wednesday.
The bills are the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024 and Nigeria Tax Bill, 2024.
Recall that a lot of controversies have trailed the Tax Reform Bills since it was introduced to the National Assembly.
Northern governors who have rejected the bills, described them as anti-democracy.
Consequently, the National Economic Council requested that the tax reforms bill should be withdrawn from the NASS for more consultations.
In the controversy wake of the controversy, Senator Shehu Buba (APC, Bauchi South) in an interview with British Broadcasting Service, Hausa Service said Northern Senators agreed to recall the Tax Reforms Bills.
“These bills are complex and require a thorough review by tax policy experts,” he said.
According to him, northern lawmakers strongly oppose the proposed “derivation” formula in the value-added tax (VAT) distribution system.
He argued that northern states would be unfairly impacted.
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