Tax institute strengthens ties with ICPC, FRC over evasion, reporting

Tax institute strengthens ties with ICPC, FRC over evasion, reportingCommission (ICPC) and the Chartered Institute of Taxation of Nigeria (CITN) have strengthened their ties with the signing of a Memorandum of Understanding to collaborate on training of officers of the commission.

The signing of the MoU, which was effected at the commission’s headquarters, was witnessed by the Acting Chairman of the ICPC, Dr. Musa Usman Abubakar, the President of CITN, Chief Cyril Ikemefuna Ede and other key officers of both institutions.

Ede underscored the need for training and capacity building as an important element in building strong institutions, noting that tax evasion was a form of corruption, which if allowed to thrive unabated would spell doom for the continuous existence of Nigeria.

He restated the commitment of the CITN towards ensuring the immediate implementation of the terms of the MoU.

Abubakar expressed his delight on the signing of the MoU, saying that CITN is a reliable institution, uniquely placed to offer training to its officers in the area of investigating and prosecuting tax evaders.

He affirmed his belief that a well packaged training programme would go a long way in enhancing the performance of its officers thereby enhancing the activities of the commission.

Similarly, the leadership of CITN, in a delegation to the Financial Reporting Council of Nigeria (FRC), requested the council to review the cost of multiple registration by professionals registering with it and sought collaboration in ways that can be mutually beneficial and supportive to both organizations in fulfilling their mandates.

The Executive Secretary of the FRC, Daniel Asapokhai, while thanking the delegation for the visit, assured that effective January 2019, new rates for registration with the council would be implemented and the concerns raised by the institute would be taken into consideration.

According to the Registrar/Chief Executive of CITN, Fisayo Awogbade, at the meeting, FRC said that in its future training and sensitisation, the institute could be involved by the contribution of resource-persons, while specific areas of involvement by both bodies would be discussed in due course.

Also, FRCN would be requiring input to its codes from time to time from CITN when the need arises.

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