Rédaction Africa Links 24 with Ibrahim Ramalan
Published on 2024-03-06 14:35:56
A bill for an Act to establish the National Tax Crimes and Oversight Commission has successfully scaled the second reading at the House of Representatives. The sponsor of the bill, Rep. Benjamin Kalu, presented the general principles of the bill during the plenary session. The bill, co-sponsored by eight other legislators, aims to ensure effective oversight over tax authorities in the country.
The primary objective of the proposed tax crime commission is to address irregularities in the assessment, reporting, and remittances of taxes. According to Nweke Uche, a co-sponsor of the bill from PDP-Rivers, the commission will also tackle revenue leakages resulting from non-payment and underpayment of taxes. The ultimate goal is to prevent tax-related crimes and block all leakages within the tax administration system.
Furthermore, the commission will work towards protecting the rights of taxpayers in the country and contribute to increasing revenue by expanding the tax net. Mr. Uche emphasized the importance of properly organizing the tax system in Nigeria to ensure its efficiency without duplicating the functions of the Federal Inland Revenue Service (FIRS).
After the presentation of the bill, Mr. Kalu, who presided over the plenary, referred it to the House Committee on Finance for further legislative actions. This move signifies a step towards establishing the National Tax Crimes and Oversight Commission to enhance tax compliance and revenue generation in the country.
The introduction of this bill reflects the government’s commitment to strengthening tax administration and combatting financial crimes related to taxation. By creating a specialized commission to oversee tax matters, the authorities aim to improve transparency, accountability, and compliance within the tax system.
Effective oversight on tax authorities is crucial for ensuring that taxes are assessed and collected in a fair and efficient manner. The establishment of the National Tax Crimes and Oversight Commission will provide a dedicated platform to address tax-related irregularities and enhance the overall effectiveness of the tax administration system.
In conclusion, the passage of the bill for the establishment of the National Tax Crimes and Oversight Commission marks a significant step towards enhancing tax compliance, revenue generation, and financial transparency in Nigeria. It underscores the government’s commitment to combating tax-related crimes and promoting a robust tax administration system that benefits both taxpayers and the economy as a whole.
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