Federal lawmakers have unveiled a set of new tax laws aimed at reforming Nigeria’s fiscal framework, widening the tax base, and improving revenue generation for sustainable development.

The proposed laws are designed to simplify tax administration, reduce multiple taxation, and promote fairness by easing the burden on low-income earners while ensuring better compliance among high-net-worth individuals and corporate entities.

Lawmakers stated that the reforms will also strengthen transparency, enhance coordination among tax authorities, and align Nigeria’s tax system with global best practices. They emphasized that the objective is not to overburden citizens but to create a more efficient and growth-friendly tax environment.

The bills are expected to undergo further legislative scrutiny, including public hearings and stakeholder consultations, before final passage and implementation.