Institute of taxation backs FG on new tax regime

The Chartered Institute of Taxation of Nigeria (CITN) has thrown its weight behind the new drive of Nigeria’s tax system by the federal government.

The CITN National President, Dame Gladys Olajumoke Simplice, who stated this in Yenagoa, Bayelsa State capital over the weekend during the investiture of Mr. Nengimote Ayerite as the Chairman of CITN Yenagoa and District society said it would continue to collaborate with relevant stakeholders to sensitize Nigerians on the need to pay taxes.

While noting that there is no hiding place for tax defaulters anymore, she noted that it is important for Yenagoa and District society to remain vibrant so that it can help to fulfil the Institute’s mandate in the Nigerian tax system.

According to her, the collaboration between tax authorities and government agencies highlight the important role taxes play in the development of a country.

“No nation can achieve sustainable development if we ignore the place of taxation or pay lip service to it. It is sad to note that a significant number of Nigerians are outside the tax net. With an estimated population of over 170million people, we presently have about 20million registered taxpayers.”

“This is too low and does not signify our readiness to make progress as a people. We cannot hold government accountable if we do not pay taxes. More than ever before, there is increased collaboration among tax authorities and agencies towards ensuring all corporate entities and individuals are brought into the tax net.”

“The recent launch of the Taxpayer Identification Number Registration system underscores the seriousness government accords to this. On the other, we will continue to advocate for transparency and accountability in the use of revenues by government to engender increased tax compliance”

Simplice who commended the Yenagoa and District Society for its giant strides urged Mr. Ayerite to work with the state government so that CITN can have positive impact in the state drive for tax.

Ayerite in his remarks assured that CITN would build on its achievements in Yenagoa and step up its advocacy roles on tax matters through tax awareness, tax administration and tax inclusion.

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