The President, Chartered Institute of Taxation of Nigeria (CITN), Mr Adesina Adedayo, has expressed concern overthe subtle move to deregulate tax practice in the country through legislation. He also warned that the plan, which he said was spear-headed by another professional body, would erode the standard of tax practice in Nigeria if allowed to sail through the legislature.
Mr Adedayo expressed this view in an interactive session with the executives of Finance Correspondents Association of Nigeria (FICAN) during a courtesy visit to the new CITN leadership at the Tax Professionals House in Ikeja, Lagos.
The 15th President of CITN, said that despite the intervention by well-meaning personalities, relevant establishments and groups, a particular professional body had continued to push for an incursion into tax practice by lobbying the legislature.
According to the CITN boss, earlier intervention by the Federal Inland Revenue Service (FIRS) resulted in the signing of a memorandum of understanding (MOU) among the three major concerned professional bodies, the Institute of Chartered Accountants of Nigeria (ICAN), Association of National Accountants of Nigeria (ANAN) and CITN, in June 2021.