CAC boss tasks CITN on tax harmonisation
THE Registrar-General of the Corporate Affairs Commission (CAC), Bello Mahmud, has called on the Chartered Institute of Taxation of Nigeria (CITN) to address the issue of double taxation in the country. Mahmud stated this when the Chief Executive of CITN, Adefisayo Awogbade and his team led by the Chairman, Annual Tax Conference Committee, Barr. Samuel Agbeluyi paid a courtesy visit to the Commission.
The Registrar-General said it is imperative to harmonize tax to ensure that people do not suffer double taxation, adding that otherwise it would demoralize paying tax. He stated that the Institute should work closely with the government to ensure proper public awareness on honest commitment on the part of government to utilize taxes for public good so as to enable the tax payers appreciate the benefits of tax payment.
He said that this would contribute to tax payers appreciating the benefits of tax payment and motivate tax evaders to have change of perception. On the upcoming conference of the institute, Mahmud commended the Institute for planning the conference ahead as such would give room for greater event.
He assured the Institute that the CAC would give them necessary support even as it would sponsor its members in the Commission to attend the conference. Earlier, the Registrar of the Institute Adefisayo Awogbade, said that the purpose of the visit was to reach out to stakeholders like the CAC to intimate them with its programmes particularly the Institute’s 2016 Annual Conference scheduled for May next year.
He further stated that part of their visit was for advocacy adding that Nigeria cannot afford to be a mono economy as such there is need for diversification on other sources of revenue. “The focus of the 2016 Annual Tax Conference is on ‘How to do more with internally generated revenue’.
The conference will address areas such as advocacy, proper usage of tax revenues, mobilisation of revenue agencies to comply and pay their taxes to move the country forward, among others”. According to the Institute, the conference would avail stakeholders the opportunity to interact and rob minds on areas of collaboration. >The CITN is the professional body empowered by law to regulate the tax profession in Nigeria. It is a training institute that train and re-train. .