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Govt’s poor management of tax revenue discouraging compliance —CITN



Govt's poor management of tax revenue discouraging compliance —CITN

The President of the Chartered Institute of Taxation of Nigeria (CITN), Adesina Adedayo, has blamed low tax compliance in the country on the mistrust Nigerians have for the government.

Adedayo said accountability issue relating to the utilisation of revenue generated from tax by the government is one of the reasons compliance with tax is low. He also stated that taxable persons are not comprehensively collated.

CITN President made this known during the 5th annual international academic conference on taxation at the Kwara State University (KWASU), on Monday.

He said Nigerians do not trust the government to adequately utilise tax revenues, resulting to poor management, hence, many not meeting their tax obligation.

Read also: Nigerian economy in crises, as FG records N8.7trn deficit in 2021

This is hurting the revenue base of the government, and available capital for projects, “the government’s expenditure has continuously grown above her revenue base, thereby, impeding capital formation.” he said.

Adedayo added, “It is saddening that, as at today, Nigeria’s tax revenue mobilisation performance remains below her capacity as the largest economy in Africa with one of the world’s largest population.

“The current number of people captured in the Nigerian tax net is grossly inadequate for a nation that desires to achieve development in the foreseeable future.”

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