The importance of women’s contribution to Nigeria’s economic growth came to fore as the Society of Women In Taxation (SWIT) on Wednesday, convened to discuss the role of women in building a new tax culture in Nigeria.
Dana Rose Ajayi, chairperson of SWIT who gave the welcome address, emphasised the need for women across all walks of life to brace up to the challenge of taxation in Nigeria. She further called for the propagation of the importance of taxation in state development as well as bringing to front burner the challenges of women in tax.
Adebimpe Balogun, first female president of the Chartered Institute of Taxation of Nigeria (CITN) and initiator of SWIT in her welcome address asserted that women can effectively encourage a tax compliance culture even from homes and if efforts are put in spheres of control.
In her keynote address, Bolaji Akintola, the director of Tax Audit to the Board of LIRS, explained that the abysmal state of tax compliance as she noted that only 14 million out of a taxable adult population of 70 million actually pay tax.
She further pointed out that of the 943 people who paid taxes above N10 million with the only two taxpayers from outside of Lagos state, resident in Ogun State.
The event organised by SWIT, an arm of the Chartered Institute of Taxation of Nigeria (CITN), at Muson Centre in Onikan, Lagos State, was graced by dignitaries and experts in the tax industry, and academics including BMO & CO Chartered Accountants, Federal Inland Revenue Service (FIRS), Lagos State Internal Revenue Service (LIRS), PricewaterhouseCoopers, KPMG, Deloitte, and past presidents of SWIT.
Special guest of honour, Ibukun Awosika, who chairs the Board of Directors of First Bank plc, lit up the atmosphere with a video message of goodwill, expressing support for the cause although she was not able to make it in person.
Similarly, of the 217 that pay taxes of more than N20 million, 214 were resident in Lagos State. She therefore called the promotion of tax culture across all states in the federation.
The panellist, which comprised experts from the tax industry, all resonated the need for government authorities to hold the elite accountable as tax is an obligation of all citizens to the nation.
The experts brought to the fore, the need to reduce the cost of tax collection, integrate tax authorities and consolidate effort, reform tax laws so as to accommodate the growth of SMEs as well as encourage more Holding companies in Nigeria.
The lack of political will to improve on the tax system was highlighted as the lack of effort on the part of government to leverage on the various data made available through the Bank Verification Number (BVN), Independent National Electoral commission and Nigerian Communication Commission (NCC) was inexcusable.
In all, the society encouraged women to rise to the occasion and contribute their quota to Nigeria’s fiscal system.
