Prince Kunle Quadri, President, West African Union of Tax Institutes (WAUTI), has appealed to the National Assembly to pass the Personal Income Tax Amendment Bill. Quadri who is also the President of the Chartered Institute of Taxation of Nigeria (CITN), similarly, appealed to the Federal Government to launch the National Tax Policy. He made the appeal on Thursday at the ongoing 13th Annual Conference of the CITN in Abuja. The theme of the conference is: “Taxation and the New Global Order.”
According to Quadri, the appeal for early passage of the bill is borne out of the fact that the bill if not passed before the inauguration of the President on May 29, may make the entire process to be repeated all over again. He said the passage of the bill was expected to correct the noticeable lapses in some of the provisions of tax laws that were not in line with contemporary developments. The WAUTI President pointed out that a lot still needed to be done, particularly in ensuring that obsolete provisions in tax laws were reviewed and replaced.
“Apart from the Personal Income Tax Amendment Bill, the Petroleum Industry Bill, Customs, Exercise Tariff (Consolidation ) Bill and National Sugar Development Bill should also be passed. He said the passage of the bills was expected to correct lapses noticeable in some provisions of tax laws that were not in line with contemporary trends in tax matters.
Quadri pleaded for the re-introduction of the post of Senior Special Adviser on Taxation Matters at the federal level and the establishment of the post at the state level. He congratulated Nigerians for the remarkable improvements in the process of electing leaders to political offices.