NIGERIA- In a bid to promote investment and
economic development, the Association of National Accountants of Nigeria has
tasked the country’s tax authorities to abolish multiple taxation.
Speaking at his inauguration as the new
president of the association, Sakirudeen Labode said that the multiple taxation
in the country distracts and irritates businessmen and potential investors,
adding that doing away with the practice, would bring more corporate
organisations and individuals into the tax net.
Labode, who was a former President of the
Ogun State Chamber of Commerce, Industry, Mines and Agriculture and also a
former Director of Finance and Supplies of the Defunct Unity Party of Nigeria
(UPN) said, “Apart from Pay As You Earn, any tax assessment not based on
verifiable financial statement is punitive, unfair and unjust.”
He asked government to ensure strict
adherence to necessary financial regulations and standards in both the public
and private sectors.
The new ANAN president added that with the
support of the association’s council, the focus of his administration would be
on technical capacity building for members and the development of the Nigeria
College of Accountancy (NCA), Jos, the post-graduate training arm of the
association.
In a related development, the immediate
past president of ANAN, Hajia Maryam Ladi Ibrahim, acknowledged that the
association has established seven accounting laboratories in Nigerian
universities in addition to NCA.
The accounting labs are in the University
of Jos, Bayero University, University of Abuja, Ahmadu Bello University, Usman
Dan Fodio University, Nnamdi Azikiwe University, and the University of Uyo.
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