The Chartered Institute of Taxation of Nigeria has advocated for transparency in the allocation of tax revenue, emphasising that simply collecting taxes without using them wisely, undermines the country’s tax system.
The President and Chairman of the Council of CITN, Samuel Agbeluyi, said this recently during its second pre-conference presidential chat, ahead of its tax conference themed “Sustainable Tax Culture and Economic Roadmap for Nation Building”, slated for May in Abuja.
Agbeluyi said, “Effective tax collection must be accompanied by prudent use of funds; otherwise, the system suffers. To enhance the tax system, revenue generated should be directed towards benefiting citizens, thus promoting a culture of tax compliance, and enhancing the tax ecosystem overall.”
Agbeluyi lauded President Bola Tinubu for the steps taken to improve Nigeria’s tax system, with the establishment of the Presidential Committee on Fiscal Policy and Tax Reforms led by Taiwo Oyedele.
According to the CITN President, it is a step in the right direction.
Agbeluyi noted that the current administration was actively reforming tax policies to boost regular tax payments by Nigerians.
“These efforts focus on simplifying tax processes, improving transparency in revenue use, and ensuring efficient allocation of public services and infrastructure.
“The goal is to cultivate a culture of tax compliance, contributing to Nigeria’s development and citizen welfare,” he added.
SOURCE: PUNCHNG
