CITN demands clarity on taxes payable through eNaira

The Chartered Institute of Taxation of Nigeria has said there is a need for clarity and proper enlightenment on the taxes payable through the e-Naira platform by individuals and merchants.

The Chairman, CITN ICT Committee, Samuel Okoye, said this while making a presentation, titled ‘Nature and implication of digital currency and eNaira for taxation’, during the 2021 Business Luncheon of the institute in Lagos on Wednesday.

Okoye, who is also the managing director of Immaculate Metrics Plus, said, “FIRS, like other government agencies, will come onboard e-Naira in the future, according to the eNaira implementation roadmap developed by the Central Bank of Nigeria
He said FIRS and inland revenue service in states would need to work with the CBN to achieve special alignment in the implementation phases for tax administrative purposes.

“If the roadmap is to stay the way it is, FIRS and SIRSs will need to come up with clear communication to taxpayers and the relevant members of the public that may come to be affected with taxable transactions conducted in eNaira,” Okoye added.

The President and Chairman in Council, CITN, Adesina Adedayo, described the tax system as the veritable means of growing and developing the economy of any nation in the world.

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