Home Economy How ABU Tax Club Hosts Northern Symposium, Induct New Members

How ABU Tax Club Hosts Northern Symposium, Induct New Members

TAX ABU

By Hassan Ibrahim

The Tax Club Ahmadu Bello University,Zaria has organized a symposium for tax students across Northern region, aimed at enhancing their skills in taxation.

 

The event, which is the first edition was held at the Center of Excellence’s Auditorium room, Ahmadu Bello University, Samaru,main campus,Zaria last Saturday.

 

In his lead paper presentation, Dr. Mohammed Lawal, Director of Corporate Service Revenue Mobilization ( Kaduna state Internal Revenue Service) on the topic “Taxation and Informal economy” describe  the informal economy as the shadow or underground economy.

 

He said, it comprises of source of income, businesses and economic activities that are not registered or regulated by the government, and hardly keeps any records or maintain a complete set of accounts and it often go untaxed.

 

Adding that, the informal sector of the economy is often hard to reach and hard to tax dues to several reasons such as low transaction values, invisibility, lack of regulation, and lack of registration etc.

 

“According to the World Bank, in 2021, about 80.4% of employment in Nigeria is in the Informal Sector, leaving only 10 per cent in the formal sector and 9.6 percent in households.”He said.

 

However, his paper highlights the challenges, opportunities, and potentials associated with taxing the informal economy. Noting that, understanding of these key aspects is crucial for creating effective tax policies and administration systems. “The implications of this presentation suggests the need for policy reforms, capacity building for tax administrators and innovative digital tax solutions to address the cost and complexities of informal sector taxation. By aligning policies with practical insights, Nigeria can improve tax compliance and revenue generation from the informal sector”. He said.

 

Earlier in his opening remarks, the President Tax Club, Ahmadu Bello University, Zaria, Ahmadu Qoyum Biodun, said, The theme for this symposium is “Navigating Nigeria’s  Economy Horizon: Fiscal Policy, Tax Reforms and Sustainable  Development’, a theme carefully selected to reflect the  current situation of Nigerian polity in taxation within and  beyond Nation. Sub-topics have been selected from the theme to narrow down the scope of discursions.

 

*I am overwhelmed and humbled by the caliber of people that have graced this occasion from across Nigeria and abroad. Your presence here today has, in no small measure added glamour and prestige to this August Assembly of tax enthusiasts who are converged to make changes and propagations about taxation narrative, particularly Northern Nigeria*.He said.

 

He Further said that “Taxation and Informer Economy’ as one of the subtopics  is selected to discuss a critical apparent issue within the Northern Nigeria most especially, to review the Presumptive tax regulation in retrospect after almost a decade that the regulation was not signed by the then Minister of Finance.

 

Other critical topics that are capable of making turning point in the realm of tax practice in Nigeria have also been selected. “We hope that at the end of the tunnel of this symposium, all the ideas shared will be collated and forwarded to an appropriate.”

 

He also appreciates the pillars of the tax club who have from the inception of the club dedicated unwavering support towards the progress of the club.

 

Tax experts and officers from Kaduna, Kano, Plateau attended the Symposium, which covers topics such as  “Tax Dispute Resolution in Nigeria: Options and Strategy. by Barrister Chukwuemeka Eze, Chairman Tax Appeal Tribunal South East and “The future of Taxation in Nigeria: How Youths can drive tax reforms and economy growth. by Ruth Abiola Adimula, Managing Partner, Abiola Adimula & Co through Visual presentation.

 

The club has also organized easy writing competition providing a platform in order to build the practice of taxation, Induction of new members of the club, presentation of award of honor to lead presenter and certificate of service to members.

 

The Symposium aims to equip tax students with the knowledge and skills necessary to overcome challenges in tax administration, and contribute to Nigeria’s growth and prosperity.

 

The Tax Club, Ahmadu Bello University, Zaria (the Club) is a students’ professional body established under the university in collaboration with the Chartered Institute of Taxation of Nigeria (CITN).

 

Its primary objective is to inundate its student members with requisite knowledge on taxation and groom them in emerging areas within the field of taxation. It also aims to instill tax culture in members, with the inclusion of members of the gallery at different fora provided by the Club.

 

Over the years, the club has successfully conducted over 100 virtual Tax in Action Sessions and over 30 Technical Physical Sessions. Also, the club has won several competitions including the impromptu tax quiz competition organized by Federal Inland Revenue Service (FIRS) during the catch them young program at the Transcorp Hilton Hotel in 2022.

 

Similarly, the club has successfully empowered its members through various capacity building programs for self-development.

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