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.
-
Oil and Gas2 days agoNUPRC vows not to approve divestments that doesn’t meet considerations
-
Oil and Gas2 days agoIran eases Strait of Hormuz transit rules amid oil shock
-
Finance2 days agoCardoso seeks collaboration to check cross‑border financial risks
-
Oil and Gas2 days agoCourt orders forfeiture of $13m linked to Aisha Achimugu’s firm
-
Oil and Gas2 days agoOil falls as reports of 15-point proposal spurs ceasefire hopes
-
Economy2 days agoNigeria to launch trade platform at ports as part of reform push
-
Finance2 days agoCourt nullifies CBN’s regulatory intervention in Union Bank in 2024, rules it acted beyond its powers
