CITN inducts 571, harps on skills acquisition, capacity development

 

The Chartered Institute of Taxation of Nigeria (CITN) has inducted a total of 571 new members as certified chartered practitioners in the field of taxation.

Mrs Gladys Simplice, President of CITN, said at the 43rd 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 ceremony is in fulfilment of one of the core objectives of the Institute, which is to admit qualified persons as Tax Professionals in compliance with the provisions of the CITN Act, CAP C10, Laws of the Federation of Nigeria, 2004.

She added that the induction signifies commitment on the part of the inductees to become ambassadors of the profession at all times.

The CITN President emphasized that in-depth knowledge and skills must have been acquired through learning and experience before one can become a Tax Professional.

She, therefore, urged the inductees to always strive to acquire new knowledge and skills in the profession and always uphold the principles and integrity of the profession in their services to the society.

Simplice advised that 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.

“You are joining the Taxation Profession at a challenging time for all nations of the world. The outbreak of the Corona Virus and its aftermath has brought unimaginable consequences on the world scene. Unemployment rates have doubled, economic growth has slowed down, production levels are on the low to mention but a few.

“At the local scene, the negative effects of the Pandemic are glaring including a severe contraction in government revenues at more than sixty per cent, a widening fiscal deficit, increasing debt stock and rising inflation.

“The recent reports of the Nigerian Bureau of Statistics have revealed a decline in the Gross Domestic Product for the third successive quarter, which signals that Nigeria is now in recession.

“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 a tax practitioner, I enjoin you to make the most of this certification not just for respectability and career progression but also as agents of change, actively contributing to the development of our nation, Nigeria,” she said.

Simplice further urged the inductees to ensure they always act in consonance with the code of conduct for members, stressing that if the code was observed in the breach, there were sanctions which would be melted out in line with the Institute’s code of conduct and ethics for members.

“As you are admitted today, you have become stakeholders, as such, your contributions are key to the realisation of the goals of the Institute by your active participation at our programmes and activities.

“You should exhibit professional expertise in your work as Tax Professionals. The depth of your technical capacity confers greater respect and value on the Institute by all those that deal with you.

“And you are expected to attend our various capacity enhancement programmes for your professional development and relevance. These programmes attract credit hours, the minimum of which is 35 credit hours on an annual basis,” Simplice explained.

A Professor of Law, Bayero University Kano, Prof. Abdulmumini Ahmed, said that success of taxation practice was built on education, capacity development and skill acquisition.

Ahmed, who was Special Guest of Honour at the ceremony, advised that tax practitioners should continuously  educate themselves, acquire new skills and be up-to-date with new developments in the profession.

According to him, education is key, saying that tax practitioners should learn on daily basis; study and know the law, the regulations and orders guiding the profession and the country.

“As professional tax practitioners, you have a duty to protect the integrity and image of the profession. You have a duty to act in the best interest of your clients.

“Be the drivers of the profession and always act diligently in accordance with the tax rules in delivering your services,” he said.

Also speaking, the Registrar and Chief Executive CITN, Mr Adefisayo Awogbade urged the inductees to be active in activities of the institute and always attend the various capacity enhancement programmes for their professional development and relevance.

“I want to challenge you not to rest on your laurels but to continue to strive towards even loftier goals particularly by getting involved in the activities of the Institute and through continuous self-development.

“You should exhibit professional expertise in your work as Tax Professionals. The depth of your technical capacity confers greater respect and value on the Institute by all those that deal with you.

“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.

“Information is critical to effective management of any organisation. Stay updated with the activities of the Institute by visiting its website,” he advised.