The Senate is anticipated to approve the tax reform bills proposed by the President today. Two senators, speaking on condition of anonymity, confirmed this development. The delay was attributed to other pressing matters but the bills are expected to pass. Efforts to confirm this with the Senate Committee on Media and Publicity were unsuccessful. The House of Representatives recently approved the bills, including the Nigerian Tax Bill and the Tax Administration Bill. Notable changes include retaining the Value Added Tax rate at 7.5 percent and extending income tax exemptions to specific sectors. A public hearing was held where key stakeholders from various sectors discussed and refined fiscal policies. The bills will soon be sent to the President for final approval.
Senate to approve Tinubu’s tax reform bills today
