CITN engages government on increasing tax competencies in MDAs
The Chartered Institute of Taxation of Nigeria (CITN) has intensified engagement with relevant government institutions to enable professionals at the Ministries, Agencies and Departments (MDAs) demonstrate their competencies on tax matters.
The Institute said this was pertinent, as it would assist in the realisation of government’s goals and objectives, particularly in curbing revenue leakages.
President and Chairman of Council, CITN, Gladys Simplice, revealed this during the institute’s 2020 fellowship conferment ceremony in Lagos.
She said the move was geared towards improving the standards of professional tax practice and by extension, the Nigerian tax system.
Simplice pointed out that the institute was continuously working on ways to improve its value offering as the only professional taxation institute in the country.
Moreso, she underscored the need for fiscal discipline by governments, advising that tax efforts should be concentrated in bringing more entities into the tax net rather than strangulating existing taxpayers.
While recognising that government revenue had been worst hit with over 60 per cent contraction, due to the effects of the COVID-19 pandemic, she advocated for the need for continuous engagement with stakeholders in the tax system at policy formulation stage.
The CITN boss also emphasised the institute’s position on the need for a National Taxpayers Day. The reason for the position, according to her, was not far-fetched, adding that it was increasingly difficult to be tax-compliant in Nigeria considering the challenges of a developing economy.
She maintained that conscious efforts must be activated to encourage tax compliance through this initiative.
Congratulating the 370 new fellows, Special Guest of Honour, Partner and West Africa Tax Leader, Deloitte, Yomi Olugbenro, urged them to project the image of the institute and strive for excellence at all times while they collectively contribute their quota towards building an efficient and effective tax system for Nigeria.
He harped on ethics and professionalism as important principles that professionals must recognise and subscribe to at all times.
Meanwhile, two members were elevated to the institute’s fellowship cadre via the Special Fellowship Route.
CITN said the individuals have made tremendous impact on the taxation profession and contributed immensely to the advancement of the institute.