The Federal Inland Revenue Service (FIRS) has urged professional bodies regulating tax practice to lead conversations on matters of tax policy and tax laws in the country.
This call was made by the Executive Chairman of FIRS, Muhammad Nami on Thursday .
Nami spoke while hosting a meeting of the Council Members of the Chartered Institute of Taxation of Nigeria (CITN), the Institute of Chartered Accountants of Nigeria (ICAN), and the Association of National Accountants of Nigeria (ANAN) to discuss the implementation of an MoU on standardisation of tax practice in Nigeria.
While calling for a value-based leadership approach from the councils, Nami urged the professional bodies to work hand-in-hand with the Service to deepen the FIRS institutional framework through qualitative reporting and effective representation of their clients.
“Our professional bodies need to speak on matters of tax policies and tax laws, especially on proposals to yearly Finance Bills,” Nami said.
“We also urge you to help the Service to deepen the institutional framework through quality reporting and effective representation of clients by our professional colleagues.
“We need to stem the tide in improving financial reporting to reduce the spate of ‘copy and paste’ financial reporting systems as we experience today”, he added.
