CITN champions creation of tax institutes in Liberia, Benin

In pursuance of its agenda to awaken and strengthen taxation and the tax system within the African region, the Chartered Institute of Taxation of Nigeria (CITN) has commenced the process of wooing neighbouring West African countries for creating tax institutes within their domain.

This move, according to the President of the institute, Prince Kunle Quadri is informed by the need to strengthen the African economy using taxation as a veritable tool to boost both local and international development within the various sectors of the region’s economy.

Speaking with Nigerian Tribune in an exclusive interview in Lagos, Quadri said the institute had been in touch with over three neighbouring West African countries on the need to birth a viable tax institute within their individual domain to promote the development and use of taxation as both revenue generation and economic development tool.

According to him, Liberia, Gambia and Benin are at the final stage of launching their individual tax institutes.

“Apart from the Chartered Institute of Taxation of Ghana (CITG), we can confirm to you that we have other tax institutes now coming up within the region. Very soon, we are going to have tax institutes in Liberia, Benin and we are also talking to the Gambia too,” he said.

Speaking further, Quadri explained that all arrangements had been made to inaugurate a union of all tax institutes within the West African sub-region in order to have a platform where all tax professionals within the sub-region could come together, discuss economic and taxation challenges within their various jurisdictions with the aim of finding working solutions that would boost both the tax system and the economy within the region.

He said recent research had shown that Africa was bedevilled with series of taxation challenges that had impacted negatively on the region, spurring the need to fathom a collaboration and platform where these challenges could be tackled.

“I believe it is a relationship that is growing very fast particularly with the impending inauguration of the West Africa Union of Taxation Institutes (WAUTI).

“CITN is really playing the leading role in ensuring that we have this platform among the West African countries where tax professionals can sit down and really talk about moving the tax system forward within the region and the individual countries.”

“First of all, this collaboration is going to serve as a platform, bringing together people from different countries to tell us what challenges they are having in their different jurisdictions/countries of residence and how we can, as a body under WAUTI, assist in solving these challenges.

“I must confess that the little research that we have done so far reveals that virtually all the countries within West Africa are having problems with their tax systems. So, the best thing that can happen now is for us to have these tax professional bodies coming together to assist each of these countries to proffer solutions to these problems. Let me also mention that we are already collaborating with Ghana, CITG, to have an educational/professional programme on Oil and Gas. Oil has just been discovered in Ghana and they are banking on us to assist bring up some facilitators, relate with them and learn from them also”, Quadri explained.

He said arrangements had been concluded on the inauguration of WAUTI working with other member countries which had already confirmed their presence at the inauguration ceremony slated for May in Nigeria.

“The inauguration will be coming up at the Nicon Luxury Hotel, Abuja in May at our annual tax conference. We are expecting quite a number of dignitaries both within Nigeria and beyond. The inauguration is part of the programmes planned for our annual tax conference that will start on 11th of May.

“Right now, I can tell you that we are expecting quite a number of people coming from Ghana to be part of the conference and the inauguration, the Deputy Minister of Finance of Ghana will be coming; Deputy Minister of Finance from Liberia also will be coming; we will also have representatives from the Gambia. We are expecting also High Commissioners, Ambassadors within and outside Abuja. Multi-nationals have also indicated interest”, he said.

Source : Tribune