The Chartered Institute of Taxation of Nigeria (CITN) has hinted that the tax reforms are expected to simplify the nation’s tax system, promote the standard of living of the citizens, expand the country’s tax base, and strengthen compliance.

President and Chairman of Council, CITN, Innocent Ohagwa, who said this during the institute’s 58th induction ceremony, said that while the detailed accreditation framework would be formally issued by the relevant authorities, its role remained clear under the new Act.

The CITN’s role, Ohagwa said, is to regulate the taxation practice, set professional standards, maintain registers of members, and enforce discipline among its members.

To this new development, he said the CITN has raised the bar of competence and ethical standards that every member, particularly practitioners, must strive to meet.

The CITN boss called on the new members to devote their time to reading and understanding the current tax laws, remain relevant and continually invest in knowledge and build capacity.

Special Guest of Honour and Managing Consultant, CSDC Consulting Limited, Dr Oladeji Akinyele, who spoke on ‘Building a New Generation of Ethical and Innovative Tax Professionals’, noted that the next decade redefines tax professionals as policy influencers and nation-builders.

He urged the newly inducted members to be tech-savvy, policy-minded, ethically-grounded, and socially conscious.

Using the four quotients of intelligence, emotional, social and adversity quotient as thriving for astute professionals, Akinyele said: “Let your IQ make you credible, your EQ make you humane, your SQ make you visible and your AQ make you unstoppable,” he said.