Tax institute inducts 826 members

The Chartered Institute of Taxation of Nigeria (CITN) has inducted 826 members who have been tasked with imbibing ethical conduct and striving for excellence.

Speaking at the 47th induction ceremony in Lagos, the President and Chairman of Council of CITN, Adesina Adedayo, charged tax professionals who he described as “Hope of the Nation” to constantly engage and contribute meaningfully to the Country Impact Assessment of the Organisation for Economic Cooperation and Development (OECD) tax deal in Nigeria.

He said, “To do this effectively, I implore you to constantly upskill your knowledge on global trends in taxation.”

Adedayo also said the inability of tax authorities and stakeholders to have a framework on the effective way to tax the digital economy is creating avenues for tax leakages.

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He said this was an issue that stakeholders must address to stop the leakages arising from the growing digital economy.

He noted that while there still existed opinions on which strategy would prove most effective for a high consumption-mono economy like Nigeria, an in-depth impact assessment of the tax deal would put a decision as a nation in proper perspective.