Tax Crimes Commission Bill passes 2nd reading in House of Reps

A bill for an Act to set up the National Tax Crimes and Oversight Commission on Wednesday passed a second reading in the House of Representatives.

This followed the presentation on the general principles of the bill by the sponsor and Deputy Speaker of the House, Benjamin Kalu at plenary.

While presenting the bill sponsored by eight other legislators, Kalu said it sought to ensure effective oversight of tax authorities in the country.

Rep Nweke Uche (PDP-Rivers ) a co-sponsor of the bill averred that the proposed tax crime commission would tackle 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 the aim was to prevent tax-related crimes and to block all leakages in the tax administration system in the country.

The lawmaker said the commission would also ensure the protection of taxpayers’ rights in the country.

Uche said that the commission would lead to an 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 (FIRS),” he said.

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