By Clifford Ndujihe

LAGOS—THE Chartered Institute of Taxation of Nigeria, CITN, has urged the National Assembly, which resumed from its two-month vacation, yesterday, to ensure the speedy passage of the Petroleum Industry Bill (PIB), to accelerate development of the oil sector to boost the country’s revenue.

Making the call yesterday, CITN President/Chairman of Council, Chief Mark Anthony Dike, said the PIB had been delayed for too long, a situation he said was hurting the country revenue wise and the oil producing areas in terms of development. “For good or bad, let us pass the bill and thereafter, we can fine-tune it,”he urged.

Dike spoke during a visit to the Lagos corporate head office of Vanguard with a team of CITN officials.

Noting that the Institute, by virtue of CITN ACT Cap C10 Law of the Federation of Nigeria 2004, is charged with the duty of encouraging, promoting and co-ordinating research for the advancement of taxation in Nigeria, Dike said the body had been at the vanguard of fashioning investment friendly tax system for the country by contributing towards tax reforms and economic policies of government at all levels in last 30 years.

Stressing the need for the citizenry to pay taxes, he also said the government must ensure judicious use of taxes to improve their welfare through provision of amenities and welfare packages.

Dike said the people of the Nordic countries like Denmark, Sweden, Norway, Finland and Iceland, who are celebrated as the happiest people on earth, pay heavy taxes with income tax taking about 60-80 per cent of their income.

“But they do not complain because the government is there for them. They provide free healthcare, education, care for the elderly, etc. If the government provides for almost everything, what do you need money for? So, the people are willing to pay,” he said.

Consequently, he said the CITN is propagating good tax behaviour for governments and individuals in Nigeria. “While we encourage people to pay taxes, we also question the government if they are not doing it well,” he added.