CITN tasks NIMASA on tax revenue

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President, CITN, Dame Gladys Simplice (middle); Deputy Director, Debt Recovery, Financial Services Department, NIMASA, Dr Odunnayo Ani (right); and tax consultant Mr Victor Onuzuruike

The Chartered Institute of Taxation of Nigeria (CITN) has emphasised the role of the Nigerian Maritime Administration and Safety Agency (NIMASA) in fast-tracking tax revenue as a prime source of government finance.

President and Chairman of Council, CITN, Dame Gladys Simplice in a statement in Lagos on Thursday, said that the institute would help in the country’s economic development drive.

She made this known during the 22nd Annual Tax Conference organised by the institute.

Simplice commended NIMASA’s commitment to the development of the maritime industry through promotion of the Federal Government’s Ease of Doing Business initiative and expansion of infrastructure as keys to national progress.

“NIMASA is a regulatory agency saddled with the responsibility of regulating shipping business in the maritime industry, creating enabling environment to simplify taxes on businesses to attract Foreign Direct Investments and revenue generation,” she said.

The CITN president also spoke on the strategic economic importance of marine tourism and water transportation and called for deliberate measures to develop them.

“As a regulatory body, it is your duty to regulate this tourism aspect of Nigeria, encourage indigenous shipping and financially empower Nigerians to develop their cargo businesses, which automatically enable our local and foreign exports through ships.

“NIMASA can bring water tourism into focus in Nigeria and this is my charge to NIMASA,” she said.

Simplice said NIMASA had been instrumental in the fight against piracy and other maritime crimes, saying that the partnership with the Nigerian Navy would go a long way in safeguarding the country’s maritime environment.

She called for equal treatment of operators in the industry and tax concessions to shipping companies, especially on account of the adverse effect of COVID-19.

Dignitaries that graced the occasion included Mr Babajide Sanwo-Olu, Malam Nasir El-Rufai and Alhaji Inuwa Yahaya, the Governors of Lagos, Kaduna and Gombe States respectively.

The conference centred on the broader role of taxation as an essential tool for economic growth and competitiveness with submissions on policy, legal and administrative prescriptions for various stakeholders. (NAN)

– Nov. 12, 2020 @ 18:17 GMT |

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