The Joint Tax Board (JTB), the highest federal government agency for tax authorities in Nigeria, has rolled out a Data for Tax project championed by the Chartered Institute of Taxation of Nigeria (CITN) to identify potential taxpayers and increase compliance.
Adesina Adedayo, the institute’s president, made the announcement while addressing journalists on the 24th Annual Tax Conference in Abuja, which has the theme “Global Disruption, Taxation, and Digitalization: Implications for Socio-Economic Development.”
The conference, which will take place from Tuesday, October 17 through Friday, October 20, 2022, will be held both physically and digitally.
To develop a competitive tax system, the President stressed the importance of data information and accountability for taxpayer identification.
He stated that the data would be digitally driven, claiming that the previous manual technique of identifying qualified tax payers could not get the country anywhere.
He said, “Nigeria has 200 million people and they shouldn’t be anonymous, they should be known, their bases and families should be known, these are the people that constitute the taxpayers, this is the area where you have Data for Tax Initiative championed by the Joint Tax Board (JTB). If you don’t know them, you cannot tax them.
“Governance has changed. Virtually everything has changed relating to this. Governance administration and interaction is changing, so disruption is everywhere, so we need to start talking. How does tax come into all this?
“We are going to end up having a situation whereby interactions and transactions are taking place, and tax must come in, it is either value added tax or withholding tax or income task, so where does task come in from administration to practice, that is what we are going to be having conversations about.”
According to Adesina, the process, accountability model, and governance style all need to be changed.
“We are seeing the challenges all around us. People are busy traveling and relocating their businesses elsewhere. We need to address those areas. We will not allow Nigeria to become a failed state,” he said.