Diversification’ll enhance tax administration –Ede, ex-CITN president

Dr. Cyril Ikemefuna Nwobodo Ede the immediate President of the Chartered Institute of Taxation of Nigeria (CITN) For us to be truly seen as making a determined push to diversify the economy away from taxes, what we require is a sustained effort towards investing in critical infrastructure such as power and transportation which impacts greatly on industrial development.

I am delighted that government is gradually taking decisive steps in this direction as evidenced on ongoing rails projects, major road rehabilitation and reconstruction in key arterial roads, investments in power generation and transmission projects etc. When these initiatives are sustained, in no time, the right environment would be created for investors to set up businesses that would operate profitably, conserve foreign exchange, reduce unemployment and pay taxes to government.He spoke to New Fortunes recently on topical issues bordering on the economy, taxation, revenue diversification, financial reporting, among others; and harped on the need for an uptick in Nigeria’s non-oil revenue stream. VAIDS assessment On the whole, I would say the programme was successful, not really in terms of numbers but the awareness generated. The publicity accorded the VAIDS programme impacted on the level of awareness and perception of Nigerians on the need to be tax compliant. Our Institute was involved in the sensitization campaign for the programme and our assessment of the feedback generated supports the fact that the programme lived up to expectations. We can only hope that in future there should be better synergy amongst the tax authorities at the federal and state level towards a successful run. By default, response to any government pronouncement, policy or programme is to shuttle between indifference and skepticism. Only in very few instances have I felt a government programme has a chance of success. But report has shown that in the first four months of implementation, VAIDS delivered N17billion into government coffers. Two months later, an additional N6billion was realised through the scheme.


Source: This days