CITN: FG Is Developing Tax System
The President and Chairman of the Council of the Chartered Institute of Taxation of Nigeria, Mr Samuel Agbeluyi, has disclosed the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms, it expressed commitment to fostering sustainable economic growth through efficient taxation strategies.
This was disclosed by Agbeluyi, at the 50th induction ceremony of the institute on Thursday in Lagos.
According to Agbeluyi, “There have been significant developments in Nigeria’s tax and fiscal policies, especially under President Bola Tinubu’s administration. The recent approval of the 2024 budget highlights the importance of increasing tax revenue to effectively implement the budget of Renewed Hope.
“The establishment of the Presidential Committee on Fiscal Policy and Tax Reforms reflects a resolute commitment to charting a course for sustainable economic growth through effective and efficient taxation.”
Also, he noted that CITN remained unwavering in its advocacy drive and continued to lead the charge for a tax system that fosters ease of doing business, accountability, and prudent utilisation of taxpayers’ monies.
“As esteemed inductees, it is important to emphasise that the council’s expectations of you are comprehensive. You are tasked with showcasing the institute in a positive light through ethical behaviour and constant pursuit of excellence,” he said.
While speaking, the Chairman of the Membership & Professional Conduct Committee, Dr Titilayo Fowokan, stated that, “Inductees are embarking on a journey that will not only challenge you but also inspire you to reach new heights of excellence in your aspiration and career as tax professionals. As you add this new feather to your professional cap, remember that you are not just joining an institute, but a community dedicated to fostering learning, innovation, and personal growth.”
She advised the new inductees to embrace upcoming challenges with courage and collaboration, aiming to elevate taxation standards and professional ethics within the institute.
She said, “As we mark our golden jubilee induction ceremony, we reaffirm our commitment to the institute’s core values of service, teamwork, excellence, and professionalism. These principles are integral and must be embraced and upheld as you become a member."
The guest of honour, the Executive Chairman of Kwara State Internal Revenue Service, Shade Omoniyi, further expressed that, “As new members, you are expected to represent the institute positively with ethical behaviour and a commitment to excellence. Maintain high ethics.
“The tax field demands service, teamwork, excellence, and professionalism. Keep learning through the mandatory professional training programme and seminars to stay abreast of the latest developments in the taxation ecosystem.”