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    • Australia Should Lower Direct Taxes, IMF Says
    • Denmark Sets Out Tax Law Reform Priorities
    • India Launches Income Tax Act Review
    • Latvia Legislates For VAT Registration Rule Changes
    • Nigeria To Replace Laws Governing Tax Administration
    • Portugal To Abandon Steep Cuts To Corporate Tax Rate
    • Tax Treaty Round-up - October 11
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    Global Daily Tax News, Nigeria To Replace Laws Governing Tax Administration, (Oct 11, 2024)

    Nigeria has tabled four draft laws in parliament that would overhaul how the nation administers and enforces the country's tax regime.

    The bills are as follows:

    • The Nigeria Tax Administration Bill, 2024 (HB. 1,756);

    • The Nigeria Revenue Service (Establ ...

    Nigeria has tabled four draft laws in parliament that would overhaul how the nation administers and enforces the country's tax regime.

    The bills are as follows:

    • The Nigeria Tax Administration Bill, 2024 (HB. 1,756);

    • The Nigeria Revenue Service (Establishment) Bill, 2024 (HB. 1,757);

    • The Joint Revenue Board of Nigeria (Establishment) Bill, 2024 (HB. 1,758); and

    • The Nigeria Tax Bill, 2024 (HB. 1,759).

    The Nigeria Revenue Service (Establishment) Bill would repeal the Federal Inland Revenue Service Act and rebrand the nation's tax agency as the Nigeria Revenue Service.

    The Joint Revenue Board of Nigeria Bill, meanwhile, would establish a new tax tribunal and taxpayer ombudsman.

    The other two bills are intended to clarify the responsibilities of taxpayers and tax authorities regarding compliance, administration, and enforcement, while reducing disputes.

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