The Senate is set to amend three critical laws to support taxation in the country noting that the tax collection rate in Nigeria remains very low and unacceptable if the country must expand its revenue base.
Senate President, Bukola Saraki disclosed this on Monday at a one-day public hearing on three bills targeted at reforming tax incentives, company income tax act and Constituency Projects bill.
The Federal Inland Revenue Service at the hearing commended the Senate for the amendments while also advising state governments in the federation to key into tax reforms.
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