The Chartered Institute of Taxation of Nigeria (CITN), on Saturday, brought 329 members into the fellowship cadre of the Institute to improve and promote taxation practice of the country.
Dame Gladys Simplice, the President of CITN, said at the 2019 Conferment of Fellowship ceremony of the Institute in Lagos that the exercise was in compliance with the mandates and Acts of the Institute.
She said, “The tax profession in Nigeria is separate and distinct from any other professions and CITN is empowered by the CITN Act, Cap C10, Laws of the Federal Republic of Nigeria to regulate the taxation profession in Nigeria”.
Simplice said it was also a mechanism to build and grow a sustainable tax administration system in the country.
According to her, the conferment signifies commitment on the part of the conferees to become ambassadors of the profession at all times.
She, therefore, urged the new Fellows to uphold the principles and integrity of the profession in their service to the society.
The CITN president said the new fellows should contribute their quota to the move towards ensuring effective and sustainable tax administration system in Nigeria.
She stressed that the tax system needed to be improved upon, saying that taxation could serve as a veritable tool for running the economy as is done in other countries.
“With your conferment as Fellows, much more is expected from you as members.
“You are therefore expected to strive at all times to enhance the respect, admiration and good name of the Institute.
“By conducting yourself in a courteous and professional manner, not only will you be establishing your reputation in the taxation community, you will also be helping to build an Institute which will be a role model for other professions.
“As a fellow of the Institute, avail yourself with opportunities of seminars and workshops to constantly be updated with new developments and methodologies in the profession.
“Overall, our primary purpose is to maintain the sanctity of the taxation profession to the extent that knowledgeable, skilled and qualified professionals are available in Nigeria,” she said.
Prof. Abiola Sanni, a Fellow of CITN, said that tax administrators should continually be updated with new trends, developments, principles and methodologies of taxation system to remain relevant to the society.
Sanni, also a special guest of honour at the ceremony, said that a tax professional must be conversant with tax policies and tax laws of the country.
“Professionalism remains the driver of developed economies and jurisdictions the world over.
“In developed economies, specialisation is the order of the day in view of its immense benefit to societal development and transformation.
“Taxation profession is a multi-disciplinary course; you need to equip yourself technically: be up to date with tax laws, tax jurisprudence as well as global tax practice.
You are to be more driven by expanding the frontier of tax knowledge rather than only the pecuniary interest.
“The process of being a well-rounded tax professional requires constant effort to stay up to date on taxation generally.
“Taxation is an ever-changing profession, and the best professionals are those who approach each day with the desire to gain a better understanding of taxation and all its intricacies.
“In order to be relevant and useful to those you represent, you must educate yourself day in and day out. This is not an easy task, but it is essential,” he said.
One of the conferees, Mrs Oliseowe Anna, expressed appreciation to the Institute for the good gesture and called for measures to restructure and strengthen the taxation system of the country such that more people would brought into the tax net.
Edited by: Oluwole Sogunle