HomeEconomyHOUSE OF REPS RELEASES CTC OF FOUR TAX LAWS TO PUBLIC

HOUSE OF REPS RELEASES CTC OF FOUR TAX LAWS TO PUBLIC

The House of Representatives has made public certified copies of the four tax reform Acts recently passed by the National Assembly and signed into law by President Bola Ahmed Tinubu, in a move to address growing concerns about alleged alterations to the legislation.

In announcing the release, Speaker Abbas reassured Nigerians that the National Assembly operates as a record-based institution, guided by established rules, precedents, and verification processes that guarantee the authenticity of every law enacted.

The House spokesperson, Akintunde Rotimi, said in a statement on Saturday evening that the original signed copies of the laws have been released for public scrutiny, while printed copies have also been distributed to all members of the National Assembly.

The statement read: “Under the leadership of Speaker Abbas Tajudeen, the House of Representatives has released the four tax reform Acts, duly signed by President Bola Ahmed Tinubu, GCFR, to Nigerians for public record, verification, and reference.”

The Speaker, working alongside Senate President Godswill Akpabio, GCON, directed the immediate release of the Certified True Copies (CTCs) of the Acts, including the presidential assent pages, following public concerns over inconsistent or unauthorised versions circulating in the media.

“This action highlights Speaker Abbas’ commitment to transparency, legislative integrity, and the public’s confidence in the law-making process,” the statement said.

The release followed an alert from a vigilant lawmaker who discovered discrepancies in circulating versions of the tax laws, prompting an internal review and immediate public disclosure of the certified Acts to restore clarity and safeguard the legislative record.

From the start of the reform process, which included wide stakeholder consultations, detailed committee scrutiny, clause-by-clause deliberations, and robust plenary debates, Speaker Abbas provided steady leadership to ensure the laws reflected Nigeria’s fiscal realities, development priorities, and were inclusive in scope.

The four Acts released include:

  • Nigeria Tax Act, 2025

  • Nigeria Tax Administration Act, 2025

  • National Revenue Service (Establishment) Act, 2025

  • Joint Revenue Board (Establishment) Act, 2025

These legislations form the cornerstone of Nigeria’s modern tax system, designed to enhance revenue administration, improve compliance, reduce redundancies, and strengthen fiscal coordination across the federation.

Speaker Abbas emphasised that the National Assembly preserves the integrity of every law through official certification and custody, and urged the public to disregard any unauthorised versions circulating outside the official records.

Hard copies of the certified Acts have been distributed to all lawmakers and made available to the public to ensure uniform reference and transparency.

The Ad-Hoc Committee chaired by Hon. Muktar Aliyu Betara continues its work to investigate the circulation of unapproved copies and recommend measures to prevent a recurrence, ensuring the reliability of parliamentary records.


IMPACT ON REVENUE ALLOCATION

With the new tax regime, a major adjustment in revenue sharing is expected starting January, when revenue inflows will be distributed among the 36 states and 774 local governments. Under the new framework, subnational governments are projected to receive significantly higher statutory allocations.

The policy redirects a large portion of federally collected taxes to states and local governments. Specifically:

  • All revenues from Pay As You Earn (PAYE) and Personal Income Tax will go directly to the states.

  • 90% of Value Added Tax (VAT) collections will be allocated to subnational governments, with 55% to state governments and the Federal Capital Territory and 35% to local governments.

This redistribution aims to empower states and local authorities with greater fiscal resources under the updated tax system.

- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img