The Chartered Institute of Taxation of Nigeria (CITN) has said it is committed to advancing tax practice in the country to tackle disruptions being experienced in the economy.
CITN President/ Chairman in Council, Adesina Adedayo, spoke in Lagos during a press briefing ahead of the CITN’s 24th annual tax conference scheduled to hold in Abuja FROM Tuesday to Friday May 20, with the theme ‘Global disruption, taxation and digitalisation: Implication for socio-economic development’.
Adedayo said, “Today, economic model has changed, business model has changed. When business model and economic model change, tax administration and practice must equally change.
“There is no way you can be talking about people having a physical company before generating taxes because the virtual companies are now getting so economically viable than even some physical companies.
“So when you have such a situation, you need to start asking about global disruption. We are disrupted no doubt about it. It is clear that we do not need physical presence anymore in order to make money.
“With that at the back of our mind, we need to start having a narrative on how to start doing business going forward.”
He said the conference had been packaged to be another rewarding experience for all and would feature distinguished guests who would enrich the knowledge of delegates.
The theme and sub-themes had been chosen to reflect the current economic realities in the tax space, he noted.
“The 24th annual tax conference will also serve as a unique opportunity for delegates to interact with colleagues, being the largest gathering of tax experts in Africa both virtually and physically,” he said.
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