The Chartered Institute of Taxation of Nigeria (CITN) has inaugurated a district in the United Kingdom calling for the effective implementation of bilateral treaties between Nigeria and the Kingdom.
President and Chairman of Council of CITN, Samuel Agbeluyi who inaugurated the district under the pioneer chairman of Chief Peter Makinde tasked the new district to create awareness and advocate for the effective implementation of bilateral treaties between the UK and Nigeria, particularly, Double Taxation Agreements.
“This District Society holds a key to unlocking the benefits and expectations of these frameworks for businesses and tax authorities operating in both jurisdictions,” Agbeluyi said.
According to him, the inauguration of the District holds immense benefits for both Nigeria and the United Kingdom.
He added, “I expect the District Society, as part of its core mandate, to focus on knowledge sharing on the potentials of the OECD Beneficial Ownership Initiative and the Common Reporting Standard which gave rise to automatic exchange of information between tax administrations.”
He stated that the establishment of the United Kingdom and District Society not only signifies institutional growth but also embodies the spirit of resilience, dedication and vision.
This has brought the number of district societies of CITN to 44 districts, he said, adding, “What is even more remarkable is that we have today transcended borders and established our presence in the United Kingdom demonstrating that our professional expertise knows no boundaries.”
He tasked the new Chairman to work assiduously and selflessly to make the District a point of reference among other district societies in the shortest possible time.
“Members will be looking up to you for responsive leadership and I am confident you won’t let them down,” he added.