Tinubu signs four new tax bills into law

By Paul Dada 

President Bola Tinubu on Thursday, signed into law the four tax reform bills recently passed by the National Assembly.

The new laws are aimed at transforming tax administration in Nigeria.

The bills, which were passed by the National Assembly after extensive consultations with stakeholders, are expected to increase revenue generation, improve the business environment, and attract domestic and foreign investments.

The four bills signed into law are the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill.

The new tax laws are expected to have a significant impact on the country’s economy, including:

Besides increased revenue generation, the laws are expected to foster an improved business environment and boost  domestic and foreign investments.