The Federal Inland Revenue Service has now become the Nigeria Revenue Service, following President Bola Ahmed Tinubu’s assent to four tax reform bills.
Media Talk Africa reports that Tinubu, on Thursday, signed into law the four tax reform bills, which include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
Tinubu stated that his assent to the bills would help deliver the first major, pro-people tax cuts and relief for low-income earners, small businesses, and families striving to make ends meet.
He added that the tax reform bills would usher in a new economic era for the Nigerian economy.
Meanwhile, the implementation of the tax reform bills is expected to commence on January 1, 2026.
