CITN inducts 850, cautions members to shun all acts of unethical practices
The Chartered Institute of Taxation of Nigeria (CITN) has inducted 850 new associate members as certified chartered practitioners in the field of taxation, calling on its members to shun all acts of unethical practices and be prudent in all their dealings especially in professional services rendered to their clients at various levels of engagement.
Mr Adesina Adedayo, President of CITN, said at the 45th induction ceremony of the institute in Lagos that the exercise was a mechanism to grow the tax administration system of the country.
Adedayo said the induction was also in compliance with the provisions of the CITN Act, CAP C10, Laws of the Federation of Nigeria 2004, where the institute derived its power to regulate and control the practice of taxation profession.
He added that the provisions of the CITN charter was the guiding compass as far as admitting members to the institute.
“In cases where Council had reviewed the requirements for admitting members by virtue of it’s powers as provided in Section 5 of the Institute’s Charter, it has always ensured that the values and intentions of the founding members of the Institute remain the bedrock of such decisions.
“Our overall primary purpose is to maintain the sanctity of the Taxation Profession to the extent that knowledgeable, skilled and qualified professionals are available in Nigeria,” Adedayo said.
Adedayo said that an investigating panel has been empowered by the Charter to investigate cases of professional misconduct as they affect members adding that the Disciplinary Tribunal is statutorily saddled with the responsibility of disciplining any member found guilty by the Tribunal.
He noted that taxation as one of the fiscal policy instruments was needed for stability in the post pandemic era.
“At goverment level, it is important that tax policy initiatives and tax law reviews are well thought-out and followed through. We have consciously seen government’s efforts in the amendment of our tax laws through the Finance Act 2019 followed by the Finance Act, 2020,” he said.
He therefore urged government to avoid the propensity to introduce earmarked taxes with the intention of raising revenues while neglecting the impacts that such action would have on businesses and economic activities.
In his address, the Chairman, Membership and Professional Conduct Committee, Prince Ade-Tunde Oretuga extolled the importance of the roles of the newly inductees.
According to him, the induction signifies commitment on the part of the inductees to become ambassadors of the profession at all times.
“It goes without saying that your clients will know and judge the institute through your character and service innovation; the manner in which you engage and render your professional duties to your clients will go a long way in shaping the perception of the institute,” he said.
Oretuga, therefore, challenged the inductees to uphold the principles of peaceful, innovative and harmonious working relationship and to strive to make strides that lead to the growth of their respective organisations, the institute and the nation.
Chief Norteh Adoage, a Fellow of the Institute, called on the Federal Government to enact policies that would ensure adequate harmonisation and collections of taxation, having widened tax-net.
Adoage, who was Special Guest of Honour at the ceremony, said there was need for Government to embark on massive awareness and sensitisation 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; it is not just about collection of the taxes but it’s utilisation of the proceeds for the benefit of the citizens and the nation at large,” Adoage said.
To the inductees, Adoage 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.
