The details of the new Nigeria Revenue Service (Establishment) Bill.
Change of name from Federal Inland Revenue Service to Nigeria Revenue Service.
Objectives:
To better reflect the mandate of the Service as the revenue agency of the Nigerian Federation and not for only the Federal Government.
Focuses on Establishment:
- Tax administration provisions removed.
- Tax enforcement powers removed.
Objectives:
To make the law strictly an establishment law and emphasize the Service as the principal revenue agency.
Avoid duplication of tax administration rules.
Funding:
- Funding is based on a percentage of all tax revenue collected.
- The rate will be determined by the NASS
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