Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result
Home News

“Nigeria College of Taxation and Fiscal Studies” Bill Passes Second Reading

byGLAMTUSH
March 27, 2023
in News, Nigeria News
Reading Time: 3 mins read
Taxation
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

A bill for an Act to establish the Nigeria College of Taxation and Fiscal Studies passed its Second Reading last week at the Senate.

The presentation of the Bill was made by Senator Abdullahi Aliyu Sabi CON on the floor of the Senate Tuesday last week, where he noted that the institution, if established would provide professional and academic training as well as certification for tax administrators, tax practitioners and tax professionals across the country.

In his presentation, Senator Sabi, who represents Niger North Senatorial District of Niger State stated that the College had become necessary given the important role that taxation is playing in the nation’s economy, and that this institution would help formulate and draft tax policy for the country while addressing human capital gaps in the country’s tax industry.

READ ALSO

Lagos Renames Streets After Tinubu, Sunny Ade, Olamide, Others [Full List]

Eko DisCo Announces 25-Day Power Outage In Lagos

“It is becoming increasingly clear that diversifying the sources of government revenue to focus on sustainable sources is inevitable. This diversification puts taxation at the centre of the revenue mobilization discussion; the attainment of this laudable objective would require tax experts who have been properly and adequately schooled to formulate tax policy, draft and interpret tax legislation, carry on private tax practice, and administer taxation in the modern era.

“In view of the constant shift in the social, technological and business environment, with direct impact on the tax system, it is is important to have skills, competence, and adaptable personnel to man the tax system. There must be a conscious development of the field of taxation and fiscal policies in Nigeria to awake the society on the importance of taxation as a sine qua non to our development.

“Nigeria must go beyond the mere inclusion of taxation in the curriculum of educational institutions; instead the country must establish a modern system that facilitates the study of taxation via a well laid out academic curriculum, guided and focused by practical realities of Nigerian taxation and the revenue ecosystem,” he noted.

Senator Sabi further emphasised that the College would help in tackling the issue of lack of sufficient capacity of tax officers, which he noted has led to “the delegation of powers of revenue authorities to third parties, creating complications, multiplicity and uncertainty in the tax system,” and that it would correct “aggressive and orthodox methods for tax collection” while also carrying out a “regular review of obsolete tax laws that do not reflect modern realities.”

He noted that all these would help the country address its fiscal and revenue challenges and achieve the objectives of the National Tax Policy.

In his presentation, the distinguished Senator representing Niger North also cited that countries such as Kenya, Japan, India, Australia, Austria, Singapore, and Malaysia have established similar institutions for developing capacity in taxation, excise duty and customs and fiscal matters, and that this has impacted positively on their economy through significantly high tax-to-GDP ratios.

This College is expected to provide training for tax officials, including officers of the Federal Inland Revenue Service (FIRS), Nigeria Customs, sub-national revenue authorities, and even the general public. It is to consist of a main campus and 12 regional centres.

The Bill proposes that the College would be funded chiefly by the extant yearly subvention of the FIRS for training thus requiring no direct impact on government spending.

Senator Adamu Aliero representing Kebbi Central District, Kebbi State, commenting on the Bill noted that the only sustainable source of revenue for the Federation was taxation, and that the proposed College would train tax officials who would be instrumental to widening the country’s tax net.

He also added that there is currently no institution in Nigeria that offers specialised training in taxation.

Taxation

Related Posts

Lagos Renames Streets
News

Lagos Renames Streets After Tinubu, Sunny Ade, Olamide, Others [Full List]

July 26, 2025
Power Outage
News

Eko DisCo Announces 25-Day Power Outage In Lagos

July 26, 2025
AI Investment
News

Google Unveils $37M AI Investment And New Community Center In Africa

July 26, 2025
Kogi Photojournalist's Murder
Metro/Crime

Suspect In Kogi Photojournalist’s Murder Found Dead In Hotel

July 24, 2025
LPPC
News

FULL LIST: LPPC Elevates 57 Legal Practitioners To SAN Rank

July 24, 2025
Osahon Okunbo
News

Osahon Okunbo Backs Emerging Artists With Bold Vision At Freedom Park

July 23, 2025
Next Post
By-Elections

INEC Announces Date For Supplementary Elections

LATEST COVER

Priscilla Ojo

GPBN Associates Member

Fidelity Bank

Zenith Bank

Male Housemates

BBNaija Season 10: 14 Male Housemates Unveiled After Previous Female Reveal

July 27, 2025
Sacred Love Teasers August 2025

Star Life: Sacred Love Teasers August 2025

July 27, 2025
WAFCON

WAFCON: Ajibade, Nnadozie Win Best Player, Goalkeeper Awards

July 27, 2025

Meet The 15 Female Housemates Of BBNaija Season 10

July 27, 2025
WAFCON

UPDATED: Super Falcons Lift 10th WAFCON Trophy

July 26, 2025
Female Housemates

BBNaija S10: 15 Beautiful Female Housemates Enter Into Biggies House

July 26, 2025
Lagos Renames Streets

Lagos Renames Streets After Tinubu, Sunny Ade, Olamide, Others [Full List]

July 26, 2025
Solar Powered Bags

Fidelity Bank Launches Solar Powered Bags For School Children

July 26, 2025
Lost In Love Teasers August 2025

Star Life: Lost In Love Teasers August 2025

July 26, 2025
Power Outage

Eko DisCo Announces 25-Day Power Outage In Lagos

July 26, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush