House of Reps passes tax reform bills

The House of Representatives on Tuesday approved the four tax reform bills submitted to the National Assembly by President Bola Tinubu in October 2024.  

Last week, the House Committee on Finance reviewed and approved a report addressing key areas of concern, including the Value Added Tax (VAT) and inheritance tax.

The committee’s recommendations were considered before the final passage of the bills.

While awaiting the Senate to similarly pass the bills, the proposed reforms are expected to be transmitted to the President for his assent in the days ahead.