The Senate on Wednesday suspended its standing Order to Fast the amendment of Finance Act, 2019 and other relevant tax statutes as presented by President Muhammadu Buhari.
This is barely twenty four hours after the Senate received a request for the amendment was made by President Muhammadu Buhari.
Consequently, A Bill for an Act to Amend the finance Act, 2019 and other relevant tax statutes to provide clarifications regarding the tax Agricultural production, the administrative effective date for the commencement of the increase in Value Added Tax to 7.5% and certain Basic items ex3mpt from Value Added Tax and for Other connected matters, 2020( SB.397) and sponsored by the Senate Leader, Senator Yahaya Abdullahi, APC, Kebbi North.
The Bill Scaled second reading, just as there was no lead Debate as parliamentary procedure for the consideration of a Bill in the Senate.
President Muhammadu Buhari’s letter seeking for amendment of the 2019 Finance Act to formally give it a legal framework that the implementation date for the increase of Value Added Tax, VAT from 5% to 7.5% is 1st of February 2020 was read on the floor of the Senate on Tuesday.
The Finance Act 2020( Amendment) Bill, 2020(SB.397) was introduced today and read the first time as a new bill, but in order for it to be read the second time, the Senate Leader, Senator Yahaya Abdullahi, All Progressives Congress, APC, Kebbi North moved that the rules of the Senate be suspended.
According to him, Order 79 of the Senate Standing Orders as Amended be adhered to to push the Bill and to allow it not to follow the tradition of allowing a Bill to through the first reading, then another Legislative day for second reading and another day for Pubkic hearing.
Order 79 (1) of the Senate Standing Orders reads, “Every Bill shall receive three readings previous to its passage, which readings shall be in different days, unless the Senate unanimously directs otherwise and the President of the Senate shall give notice at each reading whether it is first, second or third.”
At the end of the day, President of the Senate, Senator Ahmad Lawan called for voice vote and was taken that the Order be suspended.