Tax Crimes Commission Bill scales 2nd reading in Reps

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

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Tax Crimes Commission Bill, scales 2nd reading, in RepsA bill for an Act to establish the National Tax Crimes and Oversight Commission on Wednesday scaled second reading at the House of Representatives.

This followed the presentation on the general principles of the bill by the sponsor Rep. Benjamin Kalu at plenary.

Presenting the bill sponsored by eight other legislators, Kalu said that it sought to ensure effective oversight on tax authorities in the country.

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Rep. Nweke Uche (PDP-Rivers ) a co-sponsor of the bill said that the proposed tax crime commission, would address irregularities in the assessment, reporting and remittances of taxes.

‘’It will address revenue leakages emanating from non-payment and under-payment of taxes,’’ he said.

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

The lawmaker said that the commission would also ensure the protection of tax payers’ rights in the country.

Uche said that the commission would lead to increase in revenue by expanding the tax net in the country.

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

In his ruling, Kalu who presided over plenary referred the bill to the House Committee on Finance for further legislative actions.