President Bola Tinubu has formally requested the National Assembly to repeal the Federal Inland Revenue Service (FIRS) Act and replace it with the Nigeria Revenue Service (NRS).
His request was outlined in letters presented on the floor of both the House of Representatives and the Senate on Thursday.
“The third bill is in respect of the Nigerian Revenue Service, which seeks to repeal the Federal Inland Revenue Service Establishment Act number 13 of 2007 and establishes the Nigerian Revenue Service to assess, collect and account for revenue accruable to the government of the federation,” the president stated.
In addition to the NRS bill, Tinubu urged lawmakers to consider passing three other tax reform bills aimed at overhauling Nigeria’s taxation system: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board Establishment Bill.
“One of the bills is the Nigeria Tax Bill, which should provide a consolidated fiscal framework for taxation in Nigeria,” Tinubu noted.
“The second one is the Nigeria Tax Administration Bill, which shall provide a clear and concise legal framework for the fair, consistent and efficient administration of all the tax laws to facilitate ease of tax compliance, reduce tax and optimize the revenue.”
Regarding the Joint Revenue Board Establishment Bill, the president emphasized that it would help create the Joint Revenue Board, tasked with harmonizing and coordinating revenue administration across the country and settling disputes arising from revenue collection.
Tinubu stressed that the proposed legislation aligns with his administration’s fiscal reform objectives and is aimed at driving economic growth by boosting taxpayer compliance.
“The bills will enhance taxpayer compliance, strengthen fiscal institutions, and foster a more effective and transparent fiscal regime,” he added.