The Chartered Institute of Taxation of Nigeria (CITN) has urged both the federal and state governments to handle tax money wisely to earn the trust of taxpayers.
They believe this will encourage more people to willingly pay their taxes, rather than avoiding them.
Mr. Samuel Agbeluyi, the president of the Institute’s Council, emphasized the importance of taxpayers seeing the positive effects of their contributions in their daily lives. This, he believes, will motivate them to pay taxes willingly.
The CITN president confirmed that tax professionals will discuss various important issues affecting the country during the institute’s upcoming conference.
The theme of the conference is ‘Sustainable Tax Culture and Economic Roadmap For Nation Building’, and it is scheduled to take place from May 13 to 17 in Abuja.
The conference is expected to draw around 4000 participants, including financial experts, corporate administrators, managers, industry leaders, and political figures.
Additionally, there will be sports and recreational activities to promote physical well-being.
Agbeluyi outlined some of the topics that will be discussed during the conference, including fiscal policy adjustments, revenue generation, foreign direct investment, and the impact of taxation on economic growth, particularly in the manufacturing sector.
He expressed optimism that the conference would lead to significant improvements in Nigeria’s tax system.
“We shall look into fiscal policy adjustment, impact on revenue generation, foreign direct investment and revenue implications. Other topics set for discourse are, ‘Situating the Nigeria Tax Policy within the Global Practice’, ‘Critical Assessment of Revenue Generation at the Sub-Nationals’ and ‘Taxation as an Instrument of economic growth: Impact Assessment of Manufacturing Sector’. At the end, we’re very optimistic to see a significant change in our tax system.”
