Tinubu submits tax reform bill, proposes renaming FIRS to NRS

Nigerian President Bola Tinubu on Thursday sent four executive bills to both chambers of the National Assembly aimed at implementing comprehensive tax reforms.

The bill proposes to rename the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS).

In a letter read on the Senate floor by Senate President Godswill Akpabio, the bill titled “The Nigeria Revenue Service (Establishment) Bill” seeks to repeal the Federal Inland Revenue Service (Establishment) Act of 2007.

The proposed Nigeria Revenue Service would be responsible for assessing, collecting, and accounting for revenues accruing to the federal government.

The letter, titled “Transmission of Fiscal Policy and Tax Reform Bills to the National Assembly,” also included three other reform bills:

The Nigeria Tax Bill that aims to provide a consolidated fiscal framework for taxation in Nigeria.

The Nigeria Tax Administration Bill that seeks to establish a clear legal framework for fair and efficient tax administration, promoting ease of compliance, reducing disputes, and optimizing revenue collection.

The Joint Revenue Board (Establishment) Bill which proposes the creation of a Joint Revenue Board, Tax Appeal Tribunal, and the Office of the Tax Ombudsman, all intended to harmonize revenue administration and resolve disputes.

Tinubu reiterated the benefits of the proposed reforms, which aim to improve taxpayer compliance, strengthen fiscal institutions, and create a more transparent fiscal regime.

According to the President, the proposed tax bill presents substantial benefits to a library, government connectives, and economic growth by enhancing taxpayers’ compliance strengthening fiscal institutions, and fostering a more effective and transparent fiscal regime.

“I am confident that the bill, when passed, will encourage investment, boost consumer spending, and stimulate Nigeria’s economic growth,” Tinubu said.