Understanding The New Tax Regime

On 3 October 2024, President Bola Ahmed Tinubu (the President) presented to the National Assembly four proposed bills aimed at overhauling the legal framework for taxation and revenue generation. The Bills were the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill. Clearly, the overhauling of the tax regime is a product of foresight...