CITN unveils new practice guidelines to boost tax compliance
The Chartered Institute of Taxation of Nigeria has introduced an updated version of its Professional Rules and Practice Guidelines to boost ethical standards, competence, and professionalism among tax practitioners. This is just as tax practitioners have been charged to do more to boost compliance and drive more revenue for the government. Stakeholders spoke at the […]
The Chartered Institute of Taxation of Nigeria has introduced an updated version of its Professional Rules and Practice Guidelines to boost ethical standards, competence, and professionalism among tax practitioners.
This is just as tax practitioners have been charged to do more to boost compliance and drive more revenue for the government.
Stakeholders spoke at the Tax Practitioners’ Forum, a virtual designed to introduce the newly published professional rules and practice guidelines to members and stakeholders,
The revised Guidelines were aimed to promote sustainable economic growth through a more accountable and transparent tax system.
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Managing Partner, Midaspage, Dr. Kriz David who spoke on “Tax Compliance & Enforcement: Tax Practitioners’ Role” explained that tax compliance is as old as taxation itself.
“If given the choice, everyone would opt not to pay taxes. This places a dual role on tax practitioners.
“Tax practitioners’ duality is an inevitable product of our intermediary role. We are responsible for balancing the competing demands of taxpayers and tax authorities. It is a case of pleasing two masters with conflicting interests.
“In a system where tax compliance is low and enforcement is selective, tax practitioners must do more. Our role is not just about earning our fees; we are also tax compliance enforcers,” he said.
Kenneth Erikume, a partner with PWC said tax authorities must encourage taxpayers to voluntarily comply with tax laws through education and awareness campaigns.
He also stressed the need to build trust between taxpayers and tax authorities by ensuring transparency in tax administration.
The new revised guidelines segmented into two main parts including Professional Rules and Practice Guidelines, according to CITN, were designed to instill the highest standards of integrity, objectivity, and competence among its members.
Part One, which covers Professional Rules, outlines fundamental principles such as competence and due care, integrity, objectivity, independence, prohibition of incompatible activities, and adherence to a mandatory professional training programme. Members are also required to comply with the Institute’s disciplinary processes and notify the CITN of any criminal charges.
Part Two, focused on Practice Guidelines, expands from chapters 3 to 14 and offers detailed expectations on practice structure, client management, conflict of interest, charging for services, complaint resolution, and recruitment policies.