This document is the **Nigeria Revenue Service (Establishment) Bill, 2025 (HB. 1757)**, which seeks to repeal the Federal Inland Revenue Service (Establishment) Act, No. 13, 2007. The Bill aims to establish the **Nigeria Revenue Service (the Service)**, a body corporate with perpetual succession, charged with the powers of assessment, collection of, and accounting for revenue accruable to the Government of the Federation.
**Key Provisions:**
* **Objective and Application:** The Bill’s objective is to provide a legal, institutional, and regulatory framework for administering taxes and revenue accruing to the Federal Government. It applies throughout the Federal Republic of Nigeria.
* **Functions of the Service:** The Service is mandated to assess and collect tax from persons, corporations, and companies (excluding individuals resident in a State or FCT), account for all revenue, enforce payment of taxes, and review tax regimes in collaboration with relevant ministries and agencies, subject to National Assembly approval. The Service may also assist a Nigerian State or Local Government in tax collection or administration upon request.
* **Governing Board:** A Governing Board, known as the Nigeria Revenue Service Board (“the Board”), is established for overall supervision. The Board includes an Executive Chairman, six Executive Directors representing each geo-political zone, and several Ex-Officio members from various government ministries and agencies. The President also appoints one member to represent each State and the Federal Capital Territory, requiring expertise in fields like Taxation, Accountancy, or Law. The Executive Chairman and non-Ex-officio members serve a four-year term, renewable once.
* **Funding:** The Service’s fund consists of 4% of the total revenue collected, less petroleum royalty, appropriated by the National Assembly for the Service’s capital and recurrent expenditures.
* **Transitional Provisions:** The Bill transfers all powers, rights, assets, funds, and obligations of the former Federal Inland Revenue Service (the Former Service) to the newly established Nigeria Revenue Service, ensuring continuity of employment, contracts, and legal proceedings.