Nigeria's Revenue Board Advocates Tax Law Alignment

Olusegun Adesokan, the Executive Secretary of the Joint Revenue Board, has called on state governments in Nigeria to align their tax laws with a new national tax regime. This initiative is part of a comprehensive fiscal reform effort initiated by President Bola Ahmed Tinubu's administration, which includes the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service Establishment Act, and the Joint Revenue Board Nigeria Establishment Act.

The reform aims to simplify tax rules, eliminate multiple taxes, and strengthen tax administration to promote equity and transparency. Adesokan noted that 12 states have already enacted versions of the harmonized law, with several others in various stages of stakeholder consultation and legislative review.

Key features of the model law include consolidating nearly 60 different tax levies and fees, eliminating confusion, and making compliance easier for individuals and enterprises. The reform is expected to create a business-friendly environment, increase government capacity to fund infrastructure and social services, and ultimately support economic growth.