The Chartered Institute of Taxation of Nigeria (CITN) has called for advocacy and compliance on tax issues.
The institute said this at the inauguration of the Association of Nigerian Taxation Students (ANTAS), in Lagos.
President, CITN, Adesina Adedayo said the initiative was part of the Institute’s catch-them-young agenda geared towards creating a community of taxation students, who will be nurtured to become qualified tax practitioners and build leadership skills over time.
He congratulated the newly inaugurated executives, adding the importance of acknowledging the role of youths in nation-building and supporting them to drive positive change in the world.
He said it was time to start thinking more about the future, as a challenge faced recently is the lack of a connecting link between one generation and another, adding that the education sector has a role to play in connecting the link.
Adedayo added the need to make sure students were introduced to the system so that when talks about tax as a system and basis for revenue is discussed, they would be familiar with such discussions.
“There are so many issues that border on tax that we need to have an understanding of such and its impact on the economy,” he added.
Chairman of Students Affairs Committee, Titilayo Fowokan, said CITN, with the ANTAS initiative, aims to build an Association that will nurture prospective members of CITN in tax administration, academia, and practice.
According to her, the association would stimulate the interest of students in taxation as a field of study, provide a platform for intellectual interaction among taxation students, promote greater awareness of the relevance and importance of taxation in meeting societal needs and redressing social inequalities.
She added that the initiative would create a platform for an increase in the students’ membership base of the Institute, and promote the participation of members of the tax clubs and tax associations in the National Tax Quiz Competition.
Head, Department of taxation, Federal Polytechnic, Ilaro, Abosede Adelusi, speaking on career prospects in taxation said one can work in multinational companies as a tax expert to assist in tax planning or resolving tax issues.
She added private tax consulting, government tax offices, World Bank, law and academia as other places a tax professional can work.
On the importance of tax advocacy and compliance, Professor of Management and Accounting, Lead City University, Godwin Oyedokun said the tax system must rest on three pillars namely tax policies, legislations and administration.
He admonished the government to choose the advocacy method that would suit the culture of Nigerians and implement them.
He listed some factors affecting tax compliance including personal decisions not to comply with obligations, the high tax burden on the taxpayers, the presence of a large informal sector and the financial conditions of individuals.
According to him, tax advocacy and compliance would provide taxpayers with information, support and services to help return accurate taxes, present available options and improve the amount of revenue generation.
