The Vice President, Prof. Yemi Osinbajo, has urged the Chartered Institute of Taxation of Nigeria (CITN) and other relevant bodies to support the ongoing Federal Inland Revenue Service’s (FIRS’) drive towards full digitalization of tax administrative processes.
Osinbajo, who gave the charge in his speech at the professional body’s 24th Annual Tax Conference held in Abuja, noted that the theme of the tax conference ‘Global Disruption, Taxation and Digitalization: Implications for Socio-Economic Development’ captured the prevailing realities within the national and global fiscal space.
The Vice President, who was represented at the forum by the Executive Chairman of the FIRS, Mr. Muhammad Nami, said: “Nigeria’s economy is fast digitalising. The digitalization of the Nigerian economy means that the ways and manners of organising and doing businesses have changed. Indeed, the radical changes brought about by digitalization have displaced the traditional approach to tax administration.
“Consequently, the digitalization of tax administration is unavoidable, that is why our government has continued to heavily invest in the automation of tax administrative processes and digital infrastructure”, Osinbajo added.
He further noted that the government had provided the enabling environment for digitalized tax administration by making necessary tax policy changes, developing rules for taxation of the digital economy, enactment of required legislation, and providing necessary political backing for the team negotiating the new international tax rules for the digitalized economy.
According to him, the CITN should see its role as a pillar for the country’s socio-economic development, particularly by supporting government’s fiscal initiatives in line with its statutory mandate.
Osinbajo clarified: “The possible impact of non-compliance by taxpayers—whom you hold briefs for—on the government’s revenue and the larger society is crucial and must be given topmost priority while holding briefs for them.
“In doing so, you must always bear in mind the pronouncement of the Court of Appeal in Phoenix Motors v. National Provident Fund Management Board (1993) that it is in the best interest of the society at large that government be in revenue.
“It is through this prism that I see your Institute as a pillar for the socio-economic development of Nigeria and the emancipation of the downtrodden of our society. Without a doubt, your members will continue to discharge the solemn and sacred responsibility of ensuring that the interest of the larger society in Nigeria is not trodden upon; and this you must do with patriotic zeal”, the Vice President added.
