CITN warns defaulters to register forward of tax reforms

The seventeenth President of the Chartered Institute of Taxation of Nigeria, Harmless Ohagwa, has warned non-compliant taxpayers to regularise their standing with the related tax authorities forward of the 2026 launch of the Tax Reform Acts.

Ohagwa issued this warning on the pre-induction orientation programme of the CITN held in Lagos.

The PidomNigeria studies that President Bola Tinubu has assented to the tax Acts, with the take-off scheduled for subsequent yr to permit for sensitisation and planning.

Talking with journalists on the pre-induction ceremony, Ohagwa mentioned, “All of the fears being expressed are uncalled for. The Reform Acts which were handed are for the advantage of all, and the areas of concern are being addressed. There isn’t a trigger for alarm; the reason for concern is unwarranted, however I have to let you know that in case you are not used to obeying the tax as it’s immediately, you should fear. By subsequent yr, I’ll advise all who aren’t complying now to strategy their related tax authorities to regularise their conditions in order that by subsequent yr, there shall be a easy experience, but when they nonetheless stay exterior the tax web, be they people or corporations, by subsequent yr, when expertise brings out all of the issues that you’ve got been burying into the limelight, it might be troublesome so that you can navigate.”

Talking on the readiness of incoming tax professionals, he mentioned, “They’re becoming a member of the career at a time when their technical know-how and abilities are required. As such, they need to be prepared to present the tax career the wanted help. Additionally, I crave their indulgence to help the reforms in a holistic approach in order that on the finish of the day, everybody would profit and our nation could be good to go.”

Ohagwa defined the intent and impression of the current tax reforms, stating, “The choice title for the reform is ease of doing enterprise. The taxes have been harmonised. The weak and low-income are exempted from paying tax however not exempted from acquiring their tax ID. The tax ID ensures that when one commences taxable actions, they’re correctly captured.

CITN will proceed to advocate voluntary compliance. We’ll proceed to advocate that residents ought to carry out their obligations as required to have the ability to reap the quite a few incentives and waivers embedded in it. They should voluntarily comply first.”

Throughout the identical programme, Affiliate Director at Deloitte, Joseph Alatishe, harassed the significance of readiness amid evolving tax reforms.

“One of many main issues is getting technical information and expertise, particularly for modifications that we have now seen play out in different jurisdictions and the way they apply. We inform corporations that now could be the time to do an impression evaluation to make sure that you’re prepared for these modifications, and likewise as tax professionals, you additionally should be prepared to present the appropriate recommendation to your purchasers as a result of a few of these modifications aren’t issues you will have seen play out in apply earlier than, and that’s the place you additionally see our bodies like CITN assist to make sure that their members proceed studying and are additionally ready for these modifications,” he mentioned.

He emphasised the importance of the pre-induction course of, saying, “It is a step earlier than the CITN inducts new professionals into the chartered institute. This implies extra professionals to develop our tax system and be there to help corporations and people, however earlier than they’re inducted, they’ve handed exams, and so they have been discovered certified to hitch the institute. This ceremony is to make sure that they’ve each the moral practices and the requisite technical information so as to add worth to purchasers.”

In her welcome deal with on the occasion, the Deputy Director, CITN Tax Academy, Mrs Yetunde Suleiman, tasked contributors on professionalism, saying, “As future ambassadors of CITN, you can be anticipated to uphold the utmost requirements of moral conduct, show a deep understanding of tax ideas, and contribute meaningfully to nationwide improvement by way of sound tax administration and advisory companies. On the Chartered Institute of Taxation of Nigeria, we take delight in producing competent, accountable, and moral professionals.

“The Academy stays dedicated to offering the information, instruments, and help you should excel in your chosen profession. As you start this coaching, I urge you to remain centered, disciplined, and open-minded. Let your ardour for studying and your need to serve drive you thru this programme and past.”