GISTSMATE MEDIA reports that the Senate has suspended action on the tax reform bills currently before it.
It further instructed the Committee on Finance to stay action on the public hearing pending the time the agitation in the public space is addressed.
The Senate further constituted a special committee to meet with the executive branch and work with the Federal Government to resolve the issues surrounding the tax reform bills.
This was made known by the Deputy Senate President, Jibrin Barau, who presided during the plenary on Wednesday.
There have been a lot of controversies surrounding the Tax Reform Bills since its introduction to the National Assembly.
The bills are the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024 and Nigeria Tax Bill, 2024.
Northern governors have rejected the bills, describing them as anti-democracy.
Following this, the National Economic Council requested that the tax reforms bill be withdrawn from the NASS for more consultations.
Amidst the controversy, Senator Shehu Buba (APC, Bauchi South) in an interview with British Broadcasting Service, Hausa Service said Northern Senators agreed to recall the Tax Reforms Bills.
He said, “These bills are complex and require thorough review by tax policy experts.”
He claimed that northern lawmakers strongly oppose the proposed “derivation” formula in the value-added tax (VAT) distribution system, arguing that northern states would be unfairly impacted.
Also, on Tuesday, the president instructed the Ministry of Justice to liaise with the judiciary.
Speaking about these controversies, the Deputy Senate president noted that the delegation will meet on Thursday at the National Assembly to resolve all the issues that have been the cause of the uproar.
Barau said, “On the tax reform bills currently before us, we acknowledge that the Senate remains the highest legislative assembly in this country.
“The Senate comprises men and women of wisdom and experience, entrusted to legislate for the peace, stability, and development of the nation.
“The Senate of the Federal Republic of Nigeria, like similar bodies globally, serves as a stabilising force in times of difficulty or disagreement. Through dialogue and consensus, the Senate has consistently provided solutions to national challenges since 1999.”
He added, “In this regard, we have decided to set aside politics, ethnicity, and regionalism to work together on resolving the issues surrounding the tax reform bills.
“In collaboration with the Executive Arm of Government, we agreed to establish a forum to identify and address contentious areas to ensure national unity and progress.
“Before the introduction of these bills, we faced numerous challenges, including insecurity and economic issues.
“The President has been working to address these problems, and we are committed to supporting these efforts while tackling global economic challenges. We also agreed that no other issues should aggravate the country’s current difficulties.
“It has been mutually decided between the Executive and the Senate to engage the Judiciary to sort out these matters.
“the Attorney General of the Federation will be involved in discussions to identify and resolve areas of disagreement for the nation’s benefit.
“Tomorrow, the committee established by the Senate, along with its leadership, will meet with the Attorney General to address these issues.”
Barau further instructed, “Consequently, the Senate Committee on Finance has been directed to pause further actions on public hearings and other matters related to the tax reform bills until the issues are resolved.”
Members of the committee are all the leadership of the Senate including other members, Adamu Ailero (PDP, Kebbi Central), Orji Kalu (APC, Abia North), Seriake Dickson (PDP, Bayelsa West) Titus Zam (Benue South), Abdullahi Yahaya (Kebbi), Adeola Olamilekan (APC, Ogun West), Sani Musa (APC, Niger East) and Adetokunbo Abiru (APC, Lagos East).
WARNING: If You Are Not 18+, Don’t Click The Link Below 👇🫣
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. Drop your comment in the section below, and don’t forget to share the post.
