CITN vows to fight quackery in tax system

The Chartered Institute of Taxation of Nigeria has said that the focus of its Tax Practice Monitoring Committee, is to help eliminate quackery in the tax system.The President, CITN, Mr. John Jegede, made this statement at the 25th Induction Ceremony of the institute in Lagos on Thursday.Jegede said, Council is determined to implement the Charter of the Institute to the letter by ensuring that only members of the institute who carry its practising licence are allowed to practice. All legal means shall be used to bring sanity into the tax system in the country as Nigerians are looking up to us and we cannot afford to fail.He added that the institute had been issuing statement of taxation standard as part of its mandate to standardise taxation practice in the country.These statements spelt out clearly guidelines on the treatment of issues relating to taxation.Council inaugurated Nigerian Taxation Standard Board with a mandate to ensure standardisation of taxation practice and administration in Nigeria and narrow down areas of differences in the treatment of tax matters, he added.The CITN boss also urged the policy makers to establish taxation committees in the legislative and executive arms of government.Jegede said, If truly we intend to build an economy that revolves round taxation, then there is an urgent need for the various arms of government to establish taxation as a major source of governments revenue. It will be the responsibility of this committee to review taxation matters and bring them up from time to time.The Controller-General of Customs, Alhaji Abdullahi Dikko Inde, who delivered the keynote address, said, By way of tax incentives, export free zones and import duty waivers are used by government to encourage capacity utilisation, earn foreign exchange and create employment opportunities.Inde, who was represented by the Controller-General in charge of Murtala Mohammed Airport, Mr. Michael Adedeji, said the Manufacturers Association of Nigeria and other similar bodies would attest to the benefits of the various tax incentives enjoyed by their members as they had helped in the economic growth of the various industrial sectors.
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