Battle of Respect Abandoned, Nigerian Reps Meet on Finance Bill
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Another public hearing on the Finance Act (Amendment) Bill is expected to be held today by the House of Representatives, as reported by. This is the coming days after members of the Finance Committee of the House of Representatives successfully boycotted a joint public hearing over issues surrounding the passage of the Finance Bill. Their reasons for the boycott was likened to a battle of supremacy between the Upper Chamber and the Lower Chamber as the Reps accused the Senate of consistently disrespecting them. The Reps reportedly received the invitation to the joint hearing late on a Sunday evening after news of the hearing had widely circulated to the media. Defending the acts of members of the lower chamber, Benjamin Kalu, Chairman, House Committee on Media and Public Affairs, noted that their non-appearance at the public hearing was a matter of poor communication. The Finance Bill has four strategic objectives, in terms of achieving incremental but necessary changes to our fiscal laws. These objectives are promoting fiscal equity by mitigating instances of regressive taxation; reforming domestic tax laws to align with global best practices; introducing tax incentives for investments in infrastructure and capital markets; and supporting Micro, Small and Medium-sized businesses in line with our Ease of Doing Business Reforms. --- Support this podcast: https://anchor.fm/newscast-africa/support
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