• Monday, May 27, 2024
businessday logo


CITN charges new members on ethics


Having achieved membership strength of over 16,000, the Chartered Institute of Taxation of Nigeria (CITN) has re-emphasised the need for its members to adhere to the Institute’s ethical code of conduct.

The Institute also urged its members to continuously improve their skills through education and training in order to remain relevant in today’s global and technology driven business environment.

Gladys Olajumoke Simplice, chairmen, membership committee, made the call last week in Lagos, at the 31st induction ceremony of the Institute.

“Membership of CITN represents the ultimate in tax practice and administration in Nigeria,” she said.

Also, Mark Anthony Dike, president, CITN, said: “In accordance with our Institute’s resolve to carry out its mandate with integrity and service, I find it very apt and appropriate to inform you that our Institute does not condone any form of unprofessional behaviour or unethical practice among its members. This is a statutory responsibility to which all members must subscribe.”

Institute welcomes the measures being put in place by the Federal Government to cushion the impact of dwindling oil prices on the economy, Dike said, also in his speech. These measures as recently announced by Ngozi Okonjo-Iweala, coordinating minister of the economy and minister of finance, include: introduction of special tax on luxury goods, reduction in public expenditure and international travels by public servants, and reduction in budget benchmark for crude oil.

READ ALSO: Senate probes CBN, NNPC, DPR, others over crude oil exports account

“We have emphasised time and again that government should diversify the economy with more emphasis on taxes. We need to act more rather than paying lip service to the issue of increasing tax compliance and reducing our emphasis on oil revenue. Political office holders, contractors and corporate organisations need to be responsible tax payers,” Dike said.

In a related development, the CITN said government needed to do more in the area of showing zero tolerance to individuals or organisations who evade taxes dues to their closeness to the corridors of power.

“The Federal Inland Revenue Service (FIRS) and indeed revenue authorities at the state level need to be more empowered and emboldened to act without fear or favour by bringing to book all those who do not pay their taxes according to law,” CITN president said.

Iheanyi Nwachukwu