The Chartered Institute of Taxation of Nigeria (CITN) has been urged to assist the Federal Inland Revenue Service (FIRS) in its efforts to fully digitize tax administrative processes.
Vice-President Yemi Osinbajo (SAN) made this call during his speech at the 24th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN) at the International Conference Centre in Abuja.
“The possible impact of non-compliance by taxpayers – whom you hold briefs for—on the government’s revenue and the larger society is crucial and must be given topmost priority while holding briefs for them.”
“In doing so, you must always bear in mind the pronouncement of the Court of Appeal in Phoenix Motors v. National Provident Fund Management Board (1993) that it is in the best interest of the society at large that government be in revenue.”
“It is through this prism that I see your Institute as a pillar for the socio-economic development of Nigeria and the emancipation of the downtrodden of our society.”
“Without a doubt, your members will continue to discharge the solemn and sacred responsibility of ensuring that the interest of the larger society in Nigeria is not trodden upon; and this you must do with patriotic zeal,” He noted.
The Vice President was represented at the event by Muhammad Nami, the Executive Chairman of the FIRS, who delivered the address on his behalf.
Professor Osinbajo noted that the tax conference’s theme, “Global Disruption, Taxation, and Digitalization: Implications for Socio-Economic Development,” aptly captures the current realities in the national and global fiscal space.
He said; “Nigeria’s economy is fast digitalising. The digitalisation of the Nigerian economy means that the ways and manners of organising and doing businesses have changed. Indeed, the radical changes brought about by digitalisation have displaced the traditional approach to tax administration.”
“Consequently, the digitalisation of tax administration is unavoidable, that is why our government has continued to heavily invest in the automation of tax administrative processes and digital infrastructure.
He also stated that the government had created an enabling environment for digitalised tax administration by implementing necessary tax policy changes, developing rules for digital economy taxation, enacting necessary legislation, and providing the necessary political support for the team negotiating the new international tax rules for the digitalised economy.
The Vice President urged the institute to see its role in society as a pillar for the socioeconomic development of the country.
