The Institute of Chartered Accountants of Nigeria (ICAN) has explained that a recent judgement by the Appeal Court on the matter of the right of its members and other eligible professionals to practice taxation in Nigeria, court did not restrain ICAN members who are not Chartered Institute of Taxation of Nigeria (CITN) members from practicing taxation.
A statement from ICAN President, Mr. Adedoyin Idowu, described media reports on the matter as erroneous and mischievous.
Idowu alleged that the two key reliefs sought by CITN, which formed the kernel of the controversy between the two bodies (reliefs 3 & 5), were actually set aside by the court.
He added that the February 15, 2013 Court of Appeal judgement, in upholding the lower Court’s decision on prayers 1, 2 and 4 and setting aside prayers 3 and 5, had vindicated ICAN members and made it clear that there was no order restraining members of the Institute from practicing tax in Nigeria.
“For the avoidance of doubt, we hereby reiterate that while the Court of appeal held that taxation is a profession distinct from accountancy and gave CITN powers to regulate and control the practice of taxation, CITN was denied the right to declare it illegal for ICAN members who are not members of CITN to practise as Tax administrators for a reward in Nigeria.
“The Court of Appeal also refused to grant a perpetual injunction restraining ICAN members who are not CITN members from practicing, representing or holding themselves out as Tax Administrators or Practitioners in violation of the Chartered Institute of Taxation of Nigeria Act No. 76 of 1992 Cap C10 LFN 2004,” he argued.
Idowu also urged stakeholders and members of the public not to be misled by media reports, saying that “as a law abiding body of respectable professionals, ICAN, which was established by the Act of Parliament No 15 of 1965, has operated within the limits of the rule of Law in the past forty eight years.”