CITN wins relevance war at FIRS, gets nod for rejection of unstamped returns
Strong indication emerged Thursday suggesting that an age-long struggle for professional relevance by the Chartered Institute of Taxation of Nigeria (CITN) as the Federal Inland Revenue Service (FIRS), has agreed that it will no longer accept tax returns without the stamp and seal of the body from the second of January 2019.
Business Hilights recalls that the CITN is the only Institute statutorily empowered to regulate tax practice and Administration in Nigeria and in tandem with the Act establishing the Chartered Institute of Taxation of Nigeria Act, CAP C10, Vol. 2, Laws of the Federation of Nigeria, 2004.
Though the Institute’s Registrar/Chief Executive, Adefisayo Awogbade revealed the development in a statement that it is now mandatory for professionals filing tax returns on behalf of their clients to affix the CITN stamp and seal in all returns submitted to the FIRS, there has been no corresponding confirmation of the new policy by FIRS.
Awogbade disclosed further that “The CITN requires all its members to take necessary steps to be in good standing with the Institute by obtaining their stamps and affixing same thereto on tax returns from the effective date of January 2, 2019.
“Other professionals who are yet to obtain the practicing license of the Institute should do so without further delay.
He therefore advised business operators who may wish to do without licenced CITN practitioner to visit the CITN website to understudy necessary steps to follow.
CITN also noted that time has gone for taxpayers who do not need the service of tax practitioners and who decide to file their tax returns.
