The Nigerian National Assembly is currently deliberating on the National Inspector General for Tax Crimes Commission, 2022 Bill (SB. 951 “the Bill"). As at 24 March 2022, the Bill had passed second reading and has been referred to the Committee on Finance for review and recommendations.
The Bill seeks to create a Commission which will perform certain activities, some of which already seem to be under the purview of the Federal Inland Revenue Service (FIRS). These include:
- Address revenue leakages emanating from non payment and under payment of taxes;
- Tackle irregularities in the assessment, reporting and remittances of taxes;
- Prevent and “combat” tax related crimes;
- Plug all leakages in the tax administration system; and
- Ensure the protection of taxpayers’ rights.
Our publication summarises the Bill and highlights some of our key concerns with the proposed legislation. Please see our Tax Alert and the Bill below:
Download Tax Alert-Does Nigeria Need a Tax Crimes Commission