CITN inducts 582, calls for harmonization of tax collection system

 

The Chartered Institute of Taxation of Nigeria (CITN) has inducted a total of 582 new members as certified chartered practitioners in the field of taxation.

Mrs Gladys Simplice, President of CITN, said at the 42nd virtual induction ceremony of the institute in Lagos that the exercise was a mechanism to grow the tax administration system of the country.

According to her, the induction signifies commitment on the part of the inductees to become ambassadors of the profession at all times.

She, therefore, urged the inductees to uphold the principles and integrity of the profession in their service to the society.

Simplice said the inductees should contribute their quota to the move toward ensuring effective and efficient tax administration system in Nigeria.

According to her, the inductees are joining the Taxation Profession at a challenging time for all nations of the world, when the negative effects of the COVID-19 Pandemic are glaring including the inability of taxpayers to fulfil their tax obligations as and when due.

“Tax authorities at the Federal and States levels have been responsive in handling this situation resulting in the initiation of measures towards mitigating the effects on taxpayers.

“These measures range from extending the period for filing tax returns, waivers of penalties, extension of the period for due tax payments, tax waivers for small businesses and so on.

“With these developments, it is important as Tax Professionals that we should be abreast of daily developments in the tax terrain otherwise, we would be on the disadvantaged side.

“As professionals, we must be on top of current policies and developments in the profession to be able to enlighten our clients on reliefs available to them.

“This would assist them in reducing their exposures and going concern while also ensuring that they are able to fulfil their taxes obligations as and when due,” Simplice said.

Dr Timothy Olawale, Director-General,   Nigerian Employers Consultative Association (NECA), called on the Federal Government to enact policies that would ensure adequate harmonisation and collections of taxation, after widening the tax-net.

Olawale, who was Special Guest of Honour at the ceremony, said there was need for Government to embark on massive awareness and sensitization on the importance of taxation to the populace, saying that this could be done through recognised Bodies like NECA, CITN, among others.

“A concerted plan of action is required to change the narrative of poor tax awareness by the citizens.

“The Nigerian economy has continued to lose huge amount of revenue through the unwholesome practice of tax avoidance and tax evasion.

“It is on the backdrop of these challenges that Government should examine the effect of taxation on economic growth in Nigeria; the impact of Value Added Tax on economic growth in Nigeria as well as examine the effect of Petroleum Profit Tax on the economy.

“It is not just in the collection of taxes but it’s utilisation to the benefit of the citizens and the nation at large,” Olawale said.

To the inductees, Olawale urged them to maintain professionalism in the course of discharging their mandates.

According to him, the induction come at a time when technology has made things easier – thus, prompt actions are required of them.

“I, therefore, charge you all, as new Taxation Professionals, to respond to this call and contribute to the development of the country.

“It is also of immense importance, to be diligent in rendering your professional services and make professionalism, integrity and honesty your core values. Remember to be a worthy Ambassador of the Institute,” he advised.