Business
Ex-CITN Boss Hails Tax Reforms
A former Chairman of the Ikeja branch of the Chartered Institute of Taxation of Nigeria (CITN), Mr Chukwuemeka Eze, last Saturday hailed the ongoing reforms in taxation.
Eze said in Lagos that the reforms were positively impacting on the economy with regard to tax administration.
He said that the Taxpayers Identification Number (TIN), the new Personal Income Tax Act (PITA) and the Self Assessment Policy, among others, had improved government’s revenue.
Eze said that the TIN project was a product of the National Tax Policy (NTP), which guides tax administration, compliance and enforcement.
He said that TIN would enable authorities to attract more payers into the tax net, and consequently increase revenue generation.
According to him, once a taxpayer is brought into the tax net, the TIN will be used to monitor his income, when the taxpayer declares falsely, he can be prosecuted.
“Also, the Self Assessment Policy enables taxpayers to assess their tax liabilities with ease, thereby engendering transparency,” he said.
The tax expert said that full implementation of the NTP would make the tax system more vibrant.
“Some provisions of the NTP seek a shift from direct taxation to indirect taxation, where consumers will pay as they consumed.
“The tax document also seeks autonomy for the tax authorities to enable them to perform optimally,” he said.
Eze urged the Federal Government to continue the reforms to bring the nation’s tax system at par with those of other countries.
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.