CITN partners FG, States to shore up revenue generation
By Olusegun Obisanya
The Chartered Institute of Taxation of Nigeria, (CITN), has reiterated its commitment to continue to synergise with both the Federal and State Governments to shore up its revenue base such that adequate funds are available to carry out their social investment programmes for the purpose of economic growth and development.
The President, CITN, Adesina Adedayo made this public during the media briefing to herald the one week of activities to celebrate the Ruby Jubilee (40th anniversary) of the foremost tax institute in Lagos recently, which comes up between January 29 and February 5, 2022.
Adesina remarked that since inception, the institute has in no small measure contributed to various fiscal policies and reforms to achieve sustainable economic development, particularly conversations around taxation, adding that the organisation has also promoted ways of ensuring increase in national revenue from taxable income.
The theme of the anniversary celebration is, “Evolution of taxation as a profession, the birth of CITN”.
“CITN has also ensured that it is living up to its duty to continually enlighten and educate the public and stakeholders alike both through members of the profession, district societies and the Institute. We do this through advisory, involvement and participation in activities geared towards improving the legislative, administrative and policy frameworks of tax education, administration and practice. We make informed input to government fiscal and tax policy direction and also update our members on emerging Tax policy and related issues.
The president of the foremost Institute recognised by law to regulate the taxation profession in Nigeria also disclosed that the organisation has the goal in the next few years to see their female membership growing beyond the current figure that the institute has.
Speaking, the Chairman, CITN 40thAnniversary Planning Committee, Foluso Fasoto noted that every state in Nigeria has potential to be self-sufficient in terms of revenue generation.
“But the current model of generating revenue is still the problem of the country. That is why we are having an institute like CITN. But if we formalise revenue generation so that we are paying adequate taxes at the right time and go to the right purse, we believe that the government will have enough money, provided we plug the leakages.”
