• Monday, June 17, 2024
businessday logo

BusinessDay

Experts call for increased women participation in tax policy making, administration

Experts call for increased women participation in tax policy making, administration

In a bid to drive significant improvement in the global tax environment, experts have called for increased representation and participation of women in tax policy making and administration.

The experts who spoke at the Tax House maiden virtual edition of its Tax Inspire Conference themed ‘Future of Tax Practice: Game Changers’ said that women and blockchain technology play an important role in tax administration.

“This epoch conference is set to change the face of tax practice, globally, and also contribute immensely to importance issues hovering around the all-important role of women in tax, the role of professionals in tax and the role of blockchain and technology in tax administration,” said Olajide Omosebi, CEO, Tax House during his inaugural speech.

“Yearly, governments from across the world grapple with funding their budgetary needs thereby harping on the revenue gotten from individuals and companies. This poses different technicalities as with every human endeavor. But satisfying so is that tax will forever be with us and getting knowledge in it is pertinent.

“There can be no discussion about the future of a nation, field, or community without discussing the all-important role of women in it. They are shapers and should be at the forefront of policy making, laws, and administration which requires a lot of skills innately possessed by women.”

While delivering her address as Keynote speaker at the conference, Judith Freedman, a professor of Taxation Law and Policy at the University of Oxford stated that while technology has been able to transform taxation practices, it is not a magic bullet to solve the manifold problems of taxation as practitioners have their own parts to play.

Read also: Nigeria needs more than taxes to fix its ‘insufficient funds’ problem

She said, “Blockchain makes the transaction more secure, more transparent, and less open to fraud but doesn’t expect it to solve the fundamental tax problems.

Freedman also urged women to prepare for the future in tax saying, “they should work together, take on every opportunity to learn, get involved, and make the man help them.”

In his speech, Steven Dean, a professor of law at Brooklyn Law School and member of the executive committee of the New York State Bar Association’s Tax Section and its Committee on Professional Ethics said, “We should create an all-inclusive global tax system that would listen to the voices that are not yet heard.”

While giving his goodwill message, Adesina Adedayo, CITN President, stated that the tax administration needs to leverage technology to achieve its objectives.

“The tax profession requires in-depth knowledge, skills, and expertise of the principles and practices of the profession. In an era of digital tax administration, trade and commerce, the tax administration has to leverage technology to achieve its objectives.”

Commenting on the conference and the future of tax practice, Imoh Usoro, a Partner at Tax House stated that the next Tax Inspire Conference “which will be this year will be hybrid and promises to address more global tax issues.”

Similarly, Bukola Olatunji, partner in charge of Marketing, Tax House, was full of praise for the planning committee who volunteered and supported the conference till the end.

“I want to say kudos to the planning committee for bringing the tax community this opportunity to share ideas, solutions and make a positive impact in the tax industry. We couldn’t have done it without them,” Olatunji said.

Favour Anidebe, one of the attendees at the conference commended Tax House on the maiden conference said the sessions at the conference were insightful as it did not only change perspective on how the female folks see taxation but also served as a source of encouragement to her and other young ladies who have the desire of building their career in taxation.