JUST IN: House of Reps proposes tax exemption for military personnel

The House of Representatives Committee on Finance has proposed a tax exemption on the personal income of military personnel in Nigeria.

Abiodun Faleke, the Chairman of the Committee, made the disclosure on Thursday during the clause-by-clause consideration of the four tax reform bills presented to the National Assembly by President Bola Tinubu in October 2024.

Speaking at the event, Faleke said, “Mr Speaker, honourable colleagues, the committee proposed that personal income of military personnel should be exempted from tax. This is because of the critical nature of their assignment.”

The proposal was unanimously endorsed.

More details to follow…

 

(Punch)