‘Non-remittance of taxes by MDAs frustrates compliance’
The Chartered Institute of Taxation of Nigeria (CITN), has said the non-remittance of taxes by some Federal Government agencies is frustrating efforts in enforcing compliance from individuals and corporate organisations.
CITN, which argued that the development is worrisome, accused such agencies of not showing good example in compliance processes.
The Institute is particularly worried about the revelation in an audit report by the Auditor-General for the Federation, submitted to the National Assembly in 2018.
The report showed the Presidency; both chambers of the National Assembly; the Economic and Financial Crimes Commission (EFCC); and over 100 other ministries, departments and agencies (MDAs) defaulted in remitting various taxes, including Value Added Tax (VAT), and withholding taxes deducted from their contractors and PAYE of their staff.
To curb such unwholesome practice, CITN at it 2019 yearly general meeting, argued that tax units should be created in government agencies and MDAs, and such units should be manned by qualified tax professionals to handle tax matters professionally, and in line with relevant tax laws.
President of CITN, Cyril Ede, who, in his welcome address gave an overview of the operating environment during the period, said the delay in approving the 2018 budget affected implementation and increased fiscal uncertainty by pushing the bulk spending to the second half of the year. .
He, however, said increased earnings from oil, and the impact of various reforms in tax administration, including the tax amnesty programme resulted in a narrowed fiscal deficit.
Ede said sustained engagement with the relevant government institutions towards giving greater value to CITN’s certificate, stamp and seal is also yielding results.
On membership strength, Ede said the Institute would devote efforts towards increasing its value offerings to members and stakeholders, and to make CITN a brand of choice and influence in the comity of professional bodies in Nigeria.
At the meeting, election was held where Ms. Gladys Simplice emerged as the new president.
No comments yet