The Chartered Institute of Taxation of Nigeria has announced its request for clarity on the taxes payable through the e-Naira platform by individuals and merchants.
This was disclosed by the CITN ICT Committee Chairperson, Samuel Okoye, while making a presentation tagged ‘Nature and Implication of Digital Currency and eNaira for Taxation’ at the 2021 Business Luncheon of the Institute on Wednesday.
Okoye, said if the Federal Inland Revenue Service(FIRS) will come onboard with the e-Naira in the future, in line with the eNaira implementation roadmap developed by the Central Bank of Nigeria, what will happen to the tax payable from transactions by individuals?
He further noted that if there is no adjustment in the roadmap set by the CBN, the FIRS and SIRS will need to notify the taxpayers and relevant members of the public about payable taxes on transactions conducted via the eNaira.
However, the tax system has been described by the CITN President and Chairman in Council, Adesina Adedayo, as a valid means of growing and developing the economy of any nation in the world.
