CITN sets tax agenda for Buhari

Chartered Institute of Taxation of Nigeria (CITN) has forwarded what the body believed is capable of ensuring the full implementation of the campaign promises of the president-elect, Mohammadu Buhari, even as he prepares to take over the reign of government in May 29.

In a congratulatory letter signed by the president of CITN, Mark Anthony Dike, and made available to TAX DIGEST, the apex tax body linked the victory of Buhari to the belief, trust and confidence that the good people of Nigeria had in the change mantra that featured prominently during the process leading to his election.

The Institute’s helmsman reiterated the confidence of the Nigerian populace that under his (Buhari’s) able leadership, Nigeria will maintain political and civil stability, the economy will develop incessantly, the living standards of the people will appreciably rise by day, foreign relations will constantly expand and the country will register great success in its developmental strides.

The letter reads: “Our Institute has meticulously studied the laudable programmes encapsulated in the manifesto of your Party, the All Progressive Congress which you had always emphasised at all your campaign grounds across the nation. Some of those which caught our attention particularly are the readiness of APC to stabilise oil prices at $100 a barrel, provide free education to all, pay N5,000 every month to the poorest 25 million people, generate 40,000 megawatts of electricity in four years and payment of allowances to youth corps members, at least, a year after service.

“Others are provision of 3 million jobs in his first year and building of, at least, four refineries in four years. Good as these programmes are, the success of their implementation depends more on the ability of the new government to generate adequate resources needed to bring them to fruition. Successive governments in the past had largely depended on oil revenue to run the Nigerian economy. However, the fact on the ground now is that our over-reliance on oil revenue has only helped to place us at the mercy of some powerful nations whose economy and politics now dictate oil prices.”

The Institute added that this unfortunate situation was further enhanced locally by the high rate of corruption in our system, inefficiency of government officials, non-accountability of revenue, all which had assisted in the evolvement of informal taxation. People now have to provide services which constitutionally were to be produced by the government, i.e., water, roads, electricity, etc. “We are, therefore, urging you to place prime attention to diversifying the economy through the instrumentality of taxes during your tenure. Efforts have been made in this direction over the past years following the approval of the Nigerian Tax Policy document (NTP). Our Institute, having actively been involved in the formulation of that policy document, believes that the full implementation of the provisions of the NTP has the potential to revolutionise our tax system as an effective galvaniser of resources needed for developmental projects.”

The Institute also observed the lopsidedness in way and manner national honours were being used to celebrate ineptitude and moral decadence by giving the highest awards in the land to dubious and corrupt people, even when it was obvious that those people had not contributed anything to the corporate development of Nigeria. The Institute, being the only tax body recognised in Nigeria to regulate the practice of taxation, believed that tax compliance should be a major consideration for granting national honours.

“Once there is an allegation of tax evasion against a nominee, such person should stand aside until he/she is cleared by a competent court of the land. As a matter of necessity, our Institute want to recommend the institution of National Tax Compliance Honours to complement the existing ones.”

Dike further said “CITN looks forward to partnering with the Buhari government not only in seeing to it that the tax system in Nigeria is run in the most professional and result-oriented manner that is necessary to providing the needed resources to realigning the Nigerian Economy to global reckoning, but also to concert our efforts in the cause of peace and the brotherhood of all citizens of our great nation – Nigeria.

“In due course, we shall be sending our positions on various issues in the Nigerian tax system for your consideration.”