Taxes should support economic growth, CITN advises government
The Chartered Institute of Taxation of Nigeria (CITN) has called on the government to avoid the propensity of introducing earmarked taxes for raising revenues, stating that it hurts businesses and economic activities.
President of the CITN, Glady Simplice, who stated this at the 44th induction ceremony of the institute, argued that it was important that tax policy initiatives and reviews were well-thought-out by all tiers of government.
She said that taxes should be few in number, broad-based and high-revenue yielding. Noting government’s efforts in amending tax laws through the Finance Act 2019 and Finance Act 2020, she urged that the administration of taxes should be simplified for ease of enforcement and compliance.
Emphasising on the importance and compelling need to reinvigorate enlightenment and education mechanisms, the CITN boss also said there was a need for the National Orientation Agency (NOA) to wake up to its statutory responsibilities.
According to her, continuous engagement in regular education and enlightenment programmes is required to change the narrative of poor tax awareness among the citizens.
The Lagos State Auditor-General, Helen Deile, urged the newly-inducted members to imbibe the sterling qualities that should guide their conduct as tax professionals.
Considering the future of work and the advent of the new normal, Deile admonished the inductees to embrace technology with continuous professional development and self-discipline.
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