By Omolabake Fasogbon
The Chartered Institute of Taxation of Nigeria, CITN has urged government to make itself accountable to Nigerians with regards to tax administration and utilisation of tax income.
President of the Institute, Adesina Adedayo stated this at the institute’s fourth International Academic Conference, held in collaboration with Benue State University,Makurdi.
Adedayo in his welcome address resolved that being transparent and accountable to tax payers would spur an effective tax system needed to grow Nigeria’s revenue base to survive present tough time.
Speaking on the theme of the conference, ”Taxation and Socio Economic Development in Challenging period”, the CITN boss submitted that all nations required adequate revenue to fund their programmes and projects, however, an effective tax system would engender sustainable and adequate revenue mobilization.
“In the same vein, there cannot be an effective tax system if socio-economic development is challenged by the pandemic rampaging the world over. Sadly, this is the case with developing nations of the world, Nigeria inclusive.
“Thus, stakeholders in the socio-economic development must play their part for the country to achieve economic recovery in this challenging period”
He added that the conference was in line with the institute’s policy to promote academic research and contribute to research development in Nigeria, especially in the area of taxation and fiscal policy.
Earlier, Vice-Chancellor of Benue State University Makurdi, Prof. Tor Joe Iorapuu, fsonta stated that the theme of the conference was apt given the difficult economic environment fuelled by COVID-19.
He noted that despite these challenges, government at different levels are obliged to ensure socio economic development.
“This conference will explore and proffer ideas on innovative strategies for generating revenue through taxation in order to enhance socio economic development in this challenging period,”he said.
