By Henry Uche
Chartered Institute of Taxation of Nigeria (CITN) has charged its members numbering over 28,000 to contribute their quota in helping the federal government achieve sustainable economic growth through effective and efficient taxation.
President/Chairman in Council of the Institute, Mr. Samuel Agbeluyi, who made this charge during the 50th (Golden Jubilee) Induction Ceremony of new members in Lagos recently, said as a regulatory measure, the Council of CITN has established an Investigating Panel with the authority to examine cases of professional misconduct involving its members.
In its quest in driving excellence, ethical and professional standards in the tax profession for about 43 years, he said the Disciplinary Tribunal is diligent in carrying out its responsibility and would not hesitate to discipline any member found to have violated professional standards.
“A lot has happening in tax and fiscal landscape in Nigeria, particularly since the inception of President Bola Ahmed Tinubu’s administration. Of particular reference, the approval of the 2024 budget underscored the imperative of enhancing tax revenue, if the budget of renewed hope must be implemented to a reasonable extent.
“But can the government attain its non-oil revenue projection within the existing tax framework? Also, how best can sub-national governments who are still grappling with the challenge of increasing their Internally Generated Revenue (IGR) achieve this aspiration?
“The establishment of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable economic growth through effective and efficient taxation.”
CITN Chief who expressed optimism over the recommendations of the aforementioned presidential committee affirmed that when the main report is released, tax professionals in Nigeria will play a very pivotal role in the implementation.
“As key players in the sector, interfacing with both taxpayers and the tax authorities, our responsibility as tax professionals is to ensure that taxpayers fulfil their tax obligations to the government as and when due; as well as advocating for a tax system that is favourable and equitable for taxpayers. Therefore, the guidance and counsel we offer to both clients and stakeholders alike are critical to fulfilling these roles effectively.”
Agbeluyi assured that CITN remains unwavering in its advocacy drive as it continues to lead the charge for a tax system that fosters ease of doing business, accountability and prudent utilisation of tax payers monies. “We are more than willing to support the current government to achieve its objectives, which we have appraised and deemed to be highly beneficial to Nigeria and Nigerians in the long-run.
“I urge the over 28,000 professionals registered under the CITN to demonstrate commitment and make valuable contributions to the ongoing reforms in the tax and fiscal landscape in Nigeria. To do this effectively, we must be fortified with the right skill set. We must be distinctive by the depth knowledge we possess and the level of professionalism we demonstrate.”
He charged inductees to prioritize continuous learning to enable them update themselves on new developments in the tax system, saying, “As you progress in your various fields, do not fall into the trap of complacency. The Institute expects you to hold in high esteem her core values which have been redefined as: Service, Teamwork, Excellence and Professionalism (S.T.E.P).
“We have also intensified engagements with relevant strategic government institutions on the need to place at the helm of affairs, Tax Professionals in relevant Ministries, Agencies and Departments to perform tax and related functions,” he added.