CITN inducts 1,365 tax professionals, to present recommendations on new Bills

The Chartered Institute of Taxation of Nigeria (CITN) has inducted new members into the institute with a charge on them to stay informed ahead on latest tax trends in Nigeria and across the world. This is just as the institute has set up a committee which has conducted a thorough analysis of the four Executive […]

The Chartered Institute of Taxation of Nigeria (CITN) has inducted new members into the institute with a charge on them to stay informed ahead on latest tax trends in Nigeria and across the world.

This is just as the institute has set up a committee which has conducted a thorough analysis of the four Executive Bills presented to the National Assembly by President Bola Tinubu.

The bills were designed to reform the tax system and also change the name of the Federal Inland Revenue Service (FIRS).

Speaking during the 51st induction programme of the institute where 1,365 new members were inducted, the highest in the history of the institute, the 16th President and Chairman of Council, Samuel Agbeluyi disclosed that the committee has presented its recommendations for consideration by the council.

He said a lot of reforms have taken place in the tax and fiscal system, adding that it is gratifying that taxation has taken a Centre stage.

According to him, while the ongoing legislative work is commendable, tax professionals must “stay informed about these changes and understand their potential impact on the tax landscape.”

“The Institute has reviewed these Bills and identified areas where specific provisions may benefit from further refinement to enhance tax administration and uphold the highest standards of professionalism within the tax system.

“I recognise that some members have raised concerns about certain areas in the Bills. Rest assured, a committee of esteemed members from the Institute has conducted a thorough analysis and has submitted recommendations for the Council’s consideration.”

The President charged the inductees “to project the Institute positively through ethical conduct and by striving for excellence at all times in your service to employers, clients and stakeholders.

“As you progress in your various fields, please do not fall into the trap of complacency. The Institute expects you to hold in high esteem her core values which have been redefined as: Service, Teamwork, Excellence and Professionalism (S.T.E.P).

“As a regulatory measure, the Council of the CITN has established an Investigating Panel with the authority to examine cases of professional misconduct involving members. Additionally, the Disciplinary Tribunal is diligent in carrying out its responsibility to discipline any member found to have violated professional standards.”

Registrar/Chief Executive, Mrs. Afolake Oso said the inductees are exceptional individuals “who have diligently met the rigorous standards and requirements set by the Council of our esteemed Institute.”

“Today symbolizes the beginning of a rewarding professional experience filled with growth, advancement, and endless possibilities within the dynamic field of taxation.”