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Saturday, December 9, 2023

CITN thumbs-up Tinubu’s tax reforms

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The Chartered Institute of Taxation of Nigeria, CITN, has expressed full support for the Federal Government’s initiative to set up the Presidential Committee on Fiscal Policy and Tax Reforms.

It would be recalled that the President, Bola Tinubu, recently signed four Executive Orders with key fiscal policy measures including the suspension of the five per cent excise tax on telecommunication services and excise duties on locally manufactured vehicles.

The President, CITN, Mr. Samuel Agbeluyi, lauded the initiatives and expected that the committee’s mandate would lead to improved revenue collection efficiency, promote transparency, foster a healthy tax culture, and encourage voluntary compliance.

He also called for open dialogue and engagement of all stakeholders in the Nigerian tax system for the reforms to be all inclusive and meaningful.

Agbeluyi confirmed CITN’s intention to participate fully as it had always done in the current reforms process.

He praised Tinubu for appointing Mr Taiwo Oyedele, a CITN member, as the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms.

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