The Chartered Institute of Taxation of Nigeria (CITN) on Wednesday asked the federal government to go after the “big fish in the ocean” in order to widen the tax net and deepen compliance.
President and Chairman of Council of the Institute, Adesina Adedayo also declared that the institute has opened up a platform of engagement with the government to shore up the revenue generation.
- NIGERIA DAILY: Has A Saviour Arrived For The Nigerian Economy?
- What Nigeria must do before removing fuel subsidy
He spoke in Lagos on Tuesday during a press briefing to herald the 40th anniversary of the institute taking place next month.
Adedayo also said all states of the federation have the potential to be self-sufficient without depending on the monthly federal allocation if they look inward and widen the tax net.
He stated that the institute is focused on helping all states to be self-reliant through taxation.
With over 35,000 members comprising 30 per cent female, the President said the major achievement of the institute in the last 40 years is in bringing the issue of taxes into the front burner of national discourse.
He noted that the government should go after “the big fish in the ocean”, adding, “When we are talking about the issue of tax, we are looking at the depth and we are looking at the width. How well are we taxing those who are supposed to be paying as of today?
“The question is how far have we been able to ensure that this tax net is well spread. If we have to put it in another term, when you start looking for the big fish, you do not look for that type of fish in the pond.”
Chairman of the Anniversary Planning Committee, Mr Foluso Fasoto, said the 40th anniversary is a platform to showcase the achievements of the institute.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
