LunagisthubPresident Tinubu Signs Landmark Tax Reform Bills into Law
In a significant move to reform Nigeria’s tax system, President Bola Tinubu has signed four tax reform bills into law. The new laws aim to unify the country’s fragmented tax structure, eliminate duplication, and boost investor confidence.
The tax reform bills signed into law include:
– Nigeria Tax Bill
– Nigeria Tax Administration Bill
– Nigeria Revenue Service (Establishment) Bill
– Joint Revenue Board (Establishment) Bill
These laws are designed to make the tax system fairer and more transparent, while also attracting foreign and domestic investment.
The presidency expects the new tax laws to:
– Drastically change the way taxes are administered in Nigeria
– Raise revenue for the government
– Improve the business climate
– Attract more investment
The signing of these tax reform bills marks a bold step towards reforming Nigeria’s fiscal policy direction. By creating a more efficient and transparent tax system, the government aims to stimulate economic growth and development.
Lunagisthub
