{"id":6662,"date":"2025-06-26T14:52:56","date_gmt":"2025-06-26T14:52:56","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=6662"},"modified":"2025-06-26T14:52:56","modified_gmt":"2025-06-26T14:52:56","slug":"tinubu-signs-tax-bill-into-law-nrs-replaces-firs","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2025\/06\/26\/tinubu-signs-tax-bill-into-law-nrs-replaces-firs\/","title":{"rendered":"Tinubu signs tax bill into law, NRS replaces FIRS"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6663\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2025\/06\/download-3.jpg\" alt=\"\" width=\"234\" height=\"132\" \/><\/p>\n<p>Tinubu<\/p>\n<p>By Publisher<br \/>\nKindly Share<\/p>\n<div dir=\"auto\">Nigeria has abolished the\u00a0Federal Inland Revenue Service Act and replaced\u00a0 it with the Nigeria Revenue Service (Establishment), NRS.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This development formed a major highlight of\u00a0the new tax bill, which President Bola Tinubu signed into law on Thursday.<\/div>\n<div dir=\"auto\">\nThe four bills are the Nigeria Tax Bill, the Nigeria Tax Administration Bill; the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The signed NRS bill is expected to transform Nigeria\u2019s fiscal and revenue framework.<\/p>\n<p>The bills had generated controversy from Nigerians especially the northern region when they were initially introduced. They\u00a0 suspected that the bills would not protect the economic interest of the region.<\/p><\/div>\n<div dir=\"auto\">\nNevertheless, the bills were eventually passed by the National Assembly, following wide consultations with various interest groups and stakeholders.<\/div>\n<div dir=\"auto\">\nBayo Onanuga, President Tinubu&#8217;s spokesperson said the new tax laws will significantly transform tax administration in Nigeria and bring more revenue for the government as well as improve the business environment, and boost domestic and foreign investments.<\/p>\n<p>\u201cOne of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria\u2019s fragmented tax laws into a harmonised statute,&#8221; Onanuga said in a statement.<\/p><\/div>\n<div dir=\"auto\">\n\u201cBy reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment.<\/p>\n<p>\u201cThe second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.<\/p>\n<p>\u201cThe Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency, the Nigeria Revenue Service (NRS). It defines the NRS\u2019s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.<\/p>\n<p>\u201cThe fourth bill is the Joint Revenue Board (Establishment) Bill. It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government. It introduces essential oversight mechanisms, including establishing a Tax Appeal Tribunal and an Office of the Tax Ombudsman.\u201d<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tinubu By Publisher Kindly Share Nigeria has abolished the\u00a0Federal Inland Revenue Service Act and replaced\u00a0 it with the Nigeria Revenue&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1171,1481,102],"class_list":["post-6662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-federal-inland-revenue-service","tag-nigeria-revenue-service","tag-president-bola-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tinubu signs tax bill into law, NRS replaces FIRS - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panoramanews.com.ng\/index.php\/2025\/06\/26\/tinubu-signs-tax-bill-into-law-nrs-replaces-firs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu signs tax bill into law, NRS replaces FIRS - 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