Chartered Institute of Taxation of Nigeria (CITN) stressed the need for sustainable tax policies in the country.
The President of CITN, Mr. Cyril Ikemefuna, said this during the 39th induction ceremony held recently in Lagos. According to him, the renewed emphasis by government on taxes to fund its activities and projects through taxation is a welcome development.
“There is a pertinent question that may be on the minds of people, at this point in time, which is the renewed emphasis by government to fund its activities and projects and developmental projects, “he said.
He explained the government decision was the right way to go and most sustainable source of revenue.
Ikemefuna further pointed out that developed countries have been able to leverage effective and efficient tax system to develop their economies and promote good governance.
“In ensuring our country benefits from an efficient tax system, tax professionals have a role to play to assist government,” he said.
He posited the role tax professionals should play is to ensure the country benefits from efficient tax system and also assist governmentS as well.
Ikemefuna lamented the abysmal level of the tax collection in the country, when compared with other jurisdiction. He, however, admonished the newly inducted members to be worthy ambassadors. Every professional Institute has an appeal because of its members. CITN cannot be a strong and vibrant membership that believes in the ideals of the Institute, “Ikemefuna said.
Group to Organise Debate for Politicians
In order to hold political office seekers accountable when elected, the Plateau Coalition of Business and Professional Association (PLACOBPA) has organised 2019 election debate for candidates cutting across all parties in the state.
The Chairman of PLACOBPA, Mr. Cyril Ogboli, stated this in Jos while speaking with journalists about the programme. Ogboli said the essence of the election debate was to let the electorate know what stuff individual candidates are made of and to give opportunities to the common people to ask them specifically what
they stand to benefit if given the mandate.
According to the PLACOBPA chairman, the coalition has already gone ahead to the headquarters of the Independent National Electoral Commission (INEC) to get the list of political parties and their candidates for 2019 elections so as to engage them.
He said that although the election debate would cost them a fortune to organise, he was, however, optimistic that they would get independent funding.
For him, PLACOBPA had identified four issues militating against the
smooth running of businesses in Plateau, among which he said are;
lack of peace and security which leads to unfavourable business environment for the business community in the state.
Ogboli, also listed multiple taxation as adding to the cost of doing
business which causes a loss of revenue to the government.
He believes also that lack of a central market which encourages street
trading, hawking and so on, leads to a loss of revenue accruing to
government which leads to other negative social vices in society.
The areas of concern of PLACOBPA were identified as creation of standard designated parks, power supply, access to finance/micro-finance and sanitation.
Heritage Supports Youth Devt.
Heritage Bank Plc has restated its commitment to youth and sport development in the country.
The MD/CEO of Heritage Bank, Ifie Sekibo affirmed this at the just concluded 14th edition of the West African Universities Game (WAUG) held in Port Harcourt at the University of Port Harcourt. The bank recently supported the premier edition of Africa Freestyle Football Championship and continued to sponsor youth entrepreneurial initiatives, particularly, The Next Titan,” a reality television show.
Sekibo, who was represented by a Senior Manager, Oladapo Lawal stressed that the financial institution has strong desire to see young Nigerians succeed in other areas other than what they studied in school, whilst urging government at all levels and private institutions to pay closer attention to sponsorship and innovation.
He stated that Heritage Bank, as the sponsor of WAUG, was working assiduously towards achieving its vision to become a bank of national reckoning for which it was established.
He noted the need for institutions to give back to society through sponsorship.
“Heritage Bank believes in development. These are University Students and we want to level our legacy on University students that is one of reasons we decided to sponsor the event.”