Media understanding of taxation boost economic growth, development

 

By Elizabeth Osayande, Elizabeth Adegbesan & Cynthia Alo

The Chartered Insitute of Taxation of Nigeria, CITN, has noted that media understanding of taxation and its working will boost economic growth and development.

This was disclosed at the third edition of the CITN’s press briefing and workshop for tax/finance reporters recently in Lagos.

The chairman, publicity and publications committee, Prof. Godwin Oyedokun, FCTI in his welcome address, noted that it was imperative journalists understood what taxation and its workings entail in the growth and development of the nation’s economy.

His words: “Journalists must get and understand the basic knowledge of taxation and its importance to nation building via economic growth and development.

” Through their knowledge, they can effectively do reports that guide citizens on the importance of tax.

Oyedokun, a Professor of Accounting & Financial Development at Leed City University, Ibadan, who gave the third paper at the training tagged: ” Taxation and the economic growth: discussing the nexus,” noted while it was important government should not tax people especially business to death.

Earlier on in his keynote address, the Institute president, Chief Adesina Adedayo reiterated that education was a veritable tool to boost tax compliance.

His words: ” To improve tax compliance education becomes important. For instance, the effect of non-compliance will embarrass you when dealing with international organisations. You cannot tell them you are playing smart with your government when it comes to taxes, they will de-market you. We should engender confidence and educate people on improvement in taxes.” Adedayo noted.

While CITN Registrar/chief executive officer, Dr. Lanre Olasunkanmi FCA, FCTI spoke on basic taxation terminologies; the group head, strategic tax, and compliance, Dangote Industries Limited, Dr. Titilayo Fowokan, explained tax administration and practice.

The General Manager, Operations Adroit Metering Services Limited, and anchor of the event reiterated the importance of the media training:” The fundamental of this training is to make you as financial reporters become versed in tax practice. It goes a long way to making our job as an institute easy.