The Chartered Institute of Taxation of Nigeria has reiterated that there is the need for all tiers of government to adopt taxation as a viable tool for national development.
The President and Chairman of Council, CITN, Mr. Femi Jegede, said this at the induction ceremony of the institute in Lagos on Thursday.
Jegede said, “If truly we intend to build an economy that revolves round taxation, then there is an urgent need for the various arms of government to establish taxation as a major source of government’s revenue.”
Addressing the 572 newly inducted members, he charged the inducted members to always assist the government to plug the loophole in the nation’s economy through professional conduct.
He said, “CITN believes that an improved operational efficiency of the Nigerian tax system will accelerate government’s effort as it leverages on taxation as a viable source of revenue generation as is applicable in developed countries where taxation remains the engine room for sustainable economic development.