The Chartered Institute of Taxation of Nigeria (CITN) has proposed a review of the federal government’s Economic Stabilization Bill.
CITN president, Samuel Agbeluyi, pointed out issues around certain provisions within the bill and its effect on taxation practice.
Agbeluyi also commended the bill for being timely while speaking at the institute’s 51st induction ceremony in Lagos.
He also said that the review would improve output in tax administration as well as maintain the maximum standard of professionalism within the system.
“I recognise that some tax professionals have raised concerns about certain areas in the bills. As an institute, we have set up a committee of esteemed members to conduct a thorough analysis, and submitted our recommendations for consideration. We remain committed to always providing technical support and advice to the government as we progress in these reforms,” he said.
Agbeluyi also urged over 1,000 inductees to continue to maintain the institute’s core values of service, Teamwork, Excellence, and professionalism.
The Registrar/Chief Executive of CITN, Mrs. Afolake Oso, also encouraged new inductees to take full advantage of the institute’s resources and actively participate in its programmes.
“The CITN plays a crucial role in maintaining professional standards and promoting knowledge sharing within the Nigerian tax community. New members are encouraged to take advantage of the institute’s resources and actively participate in its programmes,” she noted.
