The Chartered Institute of Taxation of Nigeria (CITN) has rolled out a Data for Tax initiative championed by the Joint Tax Board (JTB), the apex federal government body for tax authorities in Nigeria, to identify eligible tax payers and drive compliance.
President of the institute, Adesina Adedayo disclosed this while briefing newsmen on the 24th Annual Tax Conference taking place in Abuja with the theme, “Global Disruption, Taxation and Digitalization: Implications for Socio-Economic Development”.
The conference taking place from Tuesday 17th to Friday 20th 2022 would be done physically and virtually.
The President highlighted the need for data information and accountability for identification of taxpayers to achieve a competitive tax system.
He said the data would be digitally driven, saying the Manual system of identifying eligible tax payers used in those days cannot take the country anywhere.
He said, “Nigeria has 200 million people and they shouldn’t be anonymous, they should be known, their bases and families should be known, these are the people that constitute the taxpayers, this is the area where you have Data for Tax Initiative championed by the Joint Tax Board (JTB). If you don’t know them you cannot tax them.
“Governance has changed, virtually everything has changed relating to this, governance administration, and Interaction is changing, so disruption is everywhere, so we need to start talking, how does tax come into all this?
“We are going to end up having a situation whereby interactions and transactions are taking place, and tax must come in, it is either value added tax or withholding tax or income task, so where does task come in from administration to practice, that is what we are going to be having conversations about.”
Adesina said there is a need to change the process, accountability model and governance style.
“We are seeing the challenges all around us, people are busy traveling and relocating their businesses elsewhere. We need to address those areas, we will not allow Nigeria to become a failed state,” he said.