28,000 professionals tasked to support FG’s tax, fiscal reforms

The Chartered Institute of Taxation of Nigeria (CITN) at the weekend inducted 605 new tax professionals into the institute, challenging them to be prepared for the implementation of the tax reform initiative of the Bola Ahmed Tinubu-led administration. At the 50th induction ceremony attended by council members and other special guests including the Executive Chairman […]

The Chartered Institute of Taxation of Nigeria (CITN) at the weekend inducted 605 new tax professionals into the institute, challenging them to be prepared for the implementation of the tax reform initiative of the Bola Ahmed Tinubu-led administration.

At the 50th induction ceremony attended by council members and other special guests including the Executive Chairman of Kwara State Internal Revenue Service (KWIRS), Mrs. Folashade Omoniyi, the 16th president of the institute, Samuel Agbeluyi said the 2024 budget underscored the need for enhancing tax revenue.

He said, “However, a lingering question persists; can the government attain its non-oil revenue projection within the existing tax framework? Also, how best can sub-national governments who are still grappling with the challenge of increasing their Internally Generated Revenue (IGR) achieve this aspiration?

“Amidst these questions, doubts and some levels of optimism, one cannot overlook the commendable effort by the current government of Nigeria. The establishment of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable economic growth through effective and efficient taxation.”

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He stated that tax professionals have a responsibility to ensure that taxpayers fulfil their tax obligations to the government as and when due, and advocate for a tax system that is favourable and equitable for taxpayers.

“Therefore, the guidance and counsel we offer to both clients and stakeholders alike are critical to fulfilling these roles effectively,” he said.

He therefore urged the over 28,000 professionals registered under the CITN “To demonstrate commitment and make valuable contributions to the ongoing reforms in the tax and fiscal landscape in Nigeria.”

Acting Registrar and Chief Executive, Mrs. Afolake Oso intimated the new inductees of the various activities of the society and urged them to be up-to-date in their subscription to avoid being delisted from the register of members.

“This ceremony signifies the formal recognition of exceptional individuals who have diligently met the rigorous standards and requirements set by the council of our esteemed institute. It is also special because of the significance of it being a golden jubilee celebration which makes our inductees the golden set of 2024,” she said.

Executive Secretary of KWIRS disclosed that a total number of 84 staff are members of the Institute comprising 73 Associate Members and 11 Fellows.

KW-IRS is the only IRS in the country that is ISO certified. We have consistently maintained the effectiveness of the ISO certification (QMS & BCMS).

She commended the institute, which she noted had over the past 50 years produced generations of highly skilled and qualified tax professionals who have served the nation with dedication and integrity.

“The CITN’s commitment to educating the public about their tax obligations has fostered a culture of tax compliance and civic responsibility,” she said.