 |
| Nde Isaac Wadak |
Plateau State now an Examination Centre
for Chartered Institute of Taxation as Nde Wadak speaks on the significance of
the Finance Act.
By Joseph A. Adudu
February 05, 2020
Jos & District Society of the Chattered Institute
of Taxation of Nigeria (CITN) has gotten approval from the Council to establish an
examination centre in Plateau State. This was disclosed this morning to African Drum in an exclusive chat with
the Chairman of the Jos and District Society of the institute, Nde Isaac Wadak.
Wadak said the development is very significant as it will reduce the stress and risk which
students hitherto go through when they to travel to Lagos, Port-Harcourt or
Kano to write the examination. “One of our major achievements in Jos District
is the recent approval that we got from the Institute to establish an examination
centre in Plateau State. I think it is significant and a welcome development
because before now, people traveled to Lagos, Port-Harcourt or Kano to sit for
this professional examination. But with this development, the people around
here can register and sit for the examination here in Jos. By the grace of God,
we have met all the conditions set for us some of which is to have a minimum of
30 students and a hall for that purpose” said Nde Wadak.
He added that the acquired hall is in
Plateau State Polytechnic Jos Campus while about 47 candidates from Federal
Inland Revenue Service (FIRS), Plateau State Internal Revenue Service (PSIRS)
and Private Students have already registered for the professional examination
believing that the number would increase before April.
Wadak stated that when he came on
board in June, 2019, one of the promises he made was to consolidate on what his
predecessor did saying that one of the issues his predecessor was working on is that of membership drive which he said was seriously being worked on.
“We
have undertaken advocacy visits to other professional bodies that we relate
well with like the Institute of Chartered Accountants of Nigeria (ICAN),
Association of National Accountants of Nigeria (ANAN), FIRS, PSRIS and the
critical key stakeholders (the tax payers). So, you can see that we sit
on a tripod; the Tax Administrator, the Practitioners and the Tax Payer while
the Institute serves as General Overseer” Wadak stated.
Some other achievements according to
Wadak include the approval of the Institute for the Society of women in Tax
(SWIT) Jos District which he said was just awaiting inauguration; the performance
of Tax Practitioners which he said is like a pressure group with the main
objective of ensuring professionalism in the practice of taxation based on the
provision of the charter of the institute; and the successful conduct of
the Mandatory Training Programme last year.
Nde Wadak appreciated the cooperation he
gets from his EXCO members and critical stakeholders adding that with that kind
of cooperation, the institute would achieve more.
The CITN Chairman said other programme
lined up for the year 2020 include the mandatory training programme slated for
September, the Zonal Conference Jos District got the honour and
approval to host that of the North Central and the hosting of the Districts meeting around
October/November comprising the entire Districts in the country.
The financial expert also took time to
speak on the recently enacted Finance Act saying that that it was a welcome
development. He said that issues that have to do with taxation also do with Fiscal
Policy and that the expectation was that such policies are reviewed because
according to him, as the economic progresses, you expect one form of change or
amendment to confirm with the prevailing circumstance.
Wadak
further stated that the main focus of the Act is to improve revenue generation
of government taking into cognizance that the fortune of oil revenue is depleting
which raised the need to substitute it with taxation. He said the Act is to
also encourage small and medium businesses.
“At the micro level, government is
trying to see how small businesses can also thrive as well as looking at how businesses
can be done with ease: So, most of the provisions in the Finance Act are
supposed to address these issues”, he said.
Some of the amendments made in the Act
according to him were in the areas of company Income Tax 2004, Returns Profit
Tax, Value Added Tax (VAT), Customs and Excise Tariff Consolidation Tax,
Personal Income Tax and Stamp Duties.
“These are the areas that were
affected by the amendment. All these aspects have their laws but were amended
to meet the prevailing economic situation.”
Wadak further posited that taxation is
the present and future of Nigeria because according to him, the country can no
longer continue to defend on oil anymore adding that thought taxation remains
the present and future of Nigeria yet Nigerians are under taxed.
“A careful observation would show you
that the ratio of tax to GDP is between 6-8 per cent which is grossly
inadequate. So, we are really under taxed in this country,” he said.
Nde Wadak said that the institute
would surely play a vital role towards helping the government achieved its
fiscal policy.
Post a Comment