Eko Hot Blog reports that the Chartered Institute of Taxation of Nigeria (CITN) has expressed concern over high levels of tax evasion, especially among wealthy Nigerians.
CITN President Samuel Agbeluyi told reporters during the 2024 Council Retreat in Uyo that the institute aims to bring more high-net-worth individuals into the tax net.
“The institute was looking at bringing such categories of people into the tax net, to give back to the society that had contributed to their success,” Agbeluyi stated.
He explained that while CITN works with the government on revenue-generating policies, it is mindful not to recommend new taxes that overburden citizens.
“Nigeria is going through a difficult and turbulent experience and we must all come together. Taxation is within the fiscal policy realm and as an institute we keep advising the government as to the policies, and strategies required to generate more revenue,” Agbeluyi noted.
The CITN president’s remarks highlight concerns over wealthy Nigerians dodging taxes amid economic difficulties. The institute is urging more contributions from those who have prospered.
However, CITN also wants to avoid placing undue burdens on average taxpayers already facing challenges. As an expert voice, the institute is working to expand the tax net responsibly and boost government revenue.
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