CITN charges members to eschew unethical practices
The president of the Chartered Institute of Taxation of Nigeria (CITN), Adesina Adedayo has called on members of the institute to eschew all acts of unethical practices, to be prudent and accountable in all their dealings especially in professional services rendered to their clients at various level of engagement.
Adedayo gave this call during the 45th induction of new members into the institute.
He noted that the provision of the CITN charter is the guiding compass as far as admitting members to the institute.
His words: “In cases where Council had reviewed the requirements for admitting members by virtue of it’s powers as provided in Section 5 of the Institute’s Charter, it has always ensured that the values and intentions of the founding members of the Institute remain the bedrock of such decisions. Overall, our primary purpose is to maintain the sanctity of the Taxation Profession to the extent that knowledgeable, skilled and qualified professionals are available in Nigeria.”
Adedayo noted that an investigating panel has been empowered by the Charter to investigate cases of professional misconduct as they affect members adding that the Disciplinary Tribunal is statutorily saddled with the responsibility of disciplining any member found guilty by the Tribunal.
He added that taxation, as one of the fiscal policy instruments is needed for stability in the post pandemic era.
“At government level, it is important that tax policy initiatives and tax law reviews are well thought-out and followed through. We have consciously seen government’s efforts in the amendment of our tax laws through the Finance Act 2019, followed by the Finance Act, 2020,” Adedayo stated.
He therefore urged government to avoid the propensity to introduce earmarked taxes with the intention of raising revenues while neglecting the impact that such action would have on businesses and economic activities.