News
Punish tax evaders CITN urges Nigeria tax authorities
The Chartered Institute of Taxation of Nigeria (CITN) has urged tax authorities to penalise tax evaders in the country. CITN President, Mr Sunday Jegede, said in Lagos that tax evasion could be tackled only when Nigerian tax authorities enforce the law.
According to him, Nigeria as at present does not need any review or amendment but enforcement of laws and punishment for eligible tax payers who evade payment.
He said that CITN as a regulatory body, is not constitutionally charged with enforcing the tax laws but that it supports the Federal Inland Revenue Service, and its affiliates to ensure that taxes work.
“CITN is a regulatory authority, we are not accessing tax, we are not
collecting tax and we do not account for taxes. There are bodies like the Federal Inland Revenue Service, the State Inland Revenue Service, the Joint Tax Board, among others, charged with these responsibilities.’’ Jegede said that in the advanced countries, tax authorities notify citizens that leave above their means and assess them accordingly.
-
News1 day agoCourt orders British Govt. to pay £420m to 21 coal miners killed by colonial masters
-
Finance1 day agoCBN cuts 1-Year Treasury Bill rate, rejects Bids
-
Agriculture1 day agoOver 2.5m metric tonnes of food valued N2trn produced in 2yrs—FG
-
Maritime1 day agoNIMASA mulls expansion of deep blue project, calls for continued partnership with Navy
-
Economy1 day agoBPE, stakeholders unite to rollout $500m free meters, DisCos pledge to lead drive
-
Business1 day agoMTN to acquire controlling stake in IHS Holdings, eyes full ownership
-
Oil and Gas1 day agoDangote refinery backs gantry loading, cautions against costly coastal evacuation
-
Economy12 hours agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others
