Taxation to diversify govt's revenue base

NIGERIA'S ability to reform its tax system will serve as a veritable tool to diversify the revenue base of the country.This was the view of the Chairman of Publicity, Chartered Institute of Taxation of Nigeria (CITN), Chukwuemeka Eze, while speaking ahead of the institute's yearly tax conference.According to him, taxation is purposeful, but the success of it depends on political will and decision of the people in power.Eze said the conference, which was scheduled to hold at the NICON Luxury Hotel, Abuja, from May 9 to 12, with the theme: 'Taxation as a tool for Economic Transformation', will also address issues central to entrenching an efficient fiscal policy regime by both the Federal and State governments.He said reforms in the tax system would also form major issues to be discussed at the conference, one of the biggest tax gatherings in Africa, in which President Goodluck Jonathan is expected to declare open. He explained that political will on the part of government and state of the economy are issues that determine contribution of taxation to government coffers.Eze, who is a tax expert and also a lawyer, said governments at all levels need to implement tax laws with fairness in order to improve on their revenue bases and deliver democracy dividends to the people. He insisted that collaboration among tax stakeholders through networking will assist the Federal and State governments maximise revenue through the ideals of the National Tax Policy launched by President Jonathan on April 5, 2012.
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