Quick Takes

CITN Seeks Tax-friendly Policies

Chartered Institute ofTaxation of Nigeria (CITN) stressed the need for sustainable tax policies in the country.

The President of CITN, Mr. Cyril Ikemefuna, said this during the 39th induction ceremony held recently in Lagos. According to him, the renewed emphasis by government on taxes to fund its activities and projects through taxation is a welcome development.

“There is a pertinent question that may be on the minds of people, at this point in time, which is the renewed emphasis by government to fund its activities and projects and developmental projects, “he said.

He explained the government decision was the right way to go and most sustainable source of revenue.

Ikemefuna further pointed out that developed countries have been able to leverage effective and efficient tax system to develop their economies and promote good governance.

“In ensuring our country benefits from an efficient tax system, tax professionals have a role to play to assist government,” he said.

He posited the role tax professionals should play is to ensure the countrybenefitsfromefficienttaxsystemandalsoassistgovernmentS as well. Ikemefuna lamented the abysmal level of the tax collection in the country, when compared with other jurisdiction.

He, however, admonished the newly inducted members to be worthy ambassadors. “Every professional Institute has an appeal because of its members. CITN cannot be a strong and vibrant membership that believes in the ideals of the Institute, “Ikemefuna said.