The Chartered Institute of Taxation of Nigeria, CITN, has conferred fellowship status on 372 members, just as members were charged on ethical operations.
Speaking during the conferment ceremony that held in Lagos, recently, President of the Institute, Dame Olajumoke Simplice, urged the newly promoted members to strive to represent the institute well in the discharge of their professional duties, in a way that will enhance the respect, admiration and good name known with CITN.
She said, “Ethics and Professionalism are important principles that every professional must necessarily recognise and subscribe to. Therefore, I urge you to continue to accord this serious attention in your conduct.”
The President also seized the occasion to beam light on pressing issues in the tax environment, as she called for fiscal discipline by government at all levels.
She said, “While we recognise that government revenue had been worst hit with over 60% contraction due to the effects of the COVID-19 pandemic, we advise that tax efforts should be concentrated in bringing more entities into the tax net and not strangulating existing taxpayers.”
Simplice also reiterated the need for government to carry tax experts along in policy formulation so as to prevent flaws in area that has to do with taxation.
“As the federal government appears ready to present the 2021 budget estimates to the National Assembly, we expect that stakeholders’ views on possible amendments to the finance Act 2019 will be accommodated in the Finance Bill 2020. This would prevent policy missteps that may not be taken care of during the legislative process.”
The CITN President also defended the Institute’s stance on National tax payers’ day, arguing that such was important to enhance tax compliance in the country.
“The reason for this position is not far-fetched. It is increasingly difficult to be tax compliant in Nigeria considering the challenges of our developing economy. Therefore, conscious efforts must be activated to encourage tax compliance through this initiative,” she said.
Simplice further hinted of efforts by the institute to boost capacity and standards in tax practice.
She noted that as part of these efforts, the institute had secured a temporary facility in Ilorin, Kwara State to commence certificate courses in CITN Tax Academy.