CITN pushes for policy options to boost taxation as new members are inducted

By Uche Henry, Lagos

Chartered Institute of Taxation of Nigeria (CITN) has pledged support for policy options of the Federal Government to strengthen tax management and administration, halt revenue leakages across Ministries, Departments and Agencies of government (MDAs).

CITN President/Chairman in Council Mr Samuel Agbeluyi, who made this known in Lagos during the 49th induction ceremony of 1055 new members, stated that Nigeria stands on the brink of a transformative era, ushered in by the technological revolution that brought with it both challenges and opportunities for taxation and economic development.

The CITN chief expressed optimism over the OECD Two Pillar Solution as the FIRS and OECD are in discourse to modify and consider its applicability in Nigeria, he tasks his tax colleagues to support development and implementation of tax policy options, rules and frameworks that will maximise the benefits of the taxing rule for Nigeria.

Agbeluyi commended the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms, adding that a sustainable economic growth and development through effective and efficient taxation is in the pipeline.

“The outcome of the committee’s work if properly implemented holds great potentials for bridging fiscal policy gaps and fortifying the taxation framework in Nigeria. Moreover, the need for highly competent professionals to oversee every facet of the tax system in Nigeria is now more than ever, important.”

He charged the new members not fall into the trap of complacency or any form of malfeasance, noting that the Institute expects them to proudly hold in high esteem its core values which are: Service, Teamwork, Excellence and Professionalism (S.T.E.P).

“You must project the Institute positively through ethical conduct and by striving for excellence at all times. I beckon you to strictly adhere to these guidelines and principles in the course of your professional engagements. Continuous learning to stay ahead and abreast of emerging trends in taxation is a must.

“As a check mechanism, an Investigative Panel empowered by the Charter to investigate cases of professional misconduct as they affect members is up and doing. A Disciplinary Tribunal is also awake to its function of disciplining any member found wanting,” he warned.