Bill For Establishment Of Commission For Tax Crimes Passes Second Reading

The House of Representatives on Wednesday passed for second reading “A Bill for an Act to establish National Tax Crimes and Oversight Commission” passed second reading on Wednesday in the House of Representatives.

The bill which was sponsored by the Deputy Speaker, Hon. Benjamin Kalu and eight other legislators sought to ensure effective oversight over tax authorities in the country.

Presenting the bill, Hon. Nweke Uche (PDP-Rivers ) a co-sponsor of the bill said that the commission, when established, will address irregularities in the assessment, reporting and remittances of taxes.

According to him, it will address revenue leakages emanating from non-payment and underpayment of taxes.

He said that the aim is to prevent and combat tax-related crimes and to block all leakages in the tax administration system in the country.

The lawmaker said that the commission, when established, will also ensure the protection of taxpayers’ rights and other related matters.

Uche said that the initiative would lead to increased revenue by expanding the tax net and would serve as a watchdog over tax institutions.

The lawmaker said that the initiative would further advance the dividends of democracy saying that the amount of revenue available to any government is the extent to which the government would address the needs of the people.

“If we put our tax system properly, Nigeria will do well, it will not duplicate the functions of Federal Inland Revenue (FIRS),” he said.

Upon adoption, the bill was referred to the Committee on Finance for further legislative actions.