Boosting tax practice through expertise integration in Africa
…Need to close gap tops agenda
In recognition of the fact that next decade would be for emerging economies especially from Africa as they will continue to contribute to global growth, professionals in taxation across the continent are re-strategising for the task ahead.
Their reason to align their thoughts in this direction is obviously because the continent’s quest for greater economic stability and development will be a pipe-dream if taxation is continuously relegated to the background.
Against this backdrop, tax professionals in Africa have realised that there is need for them to integrate their expertise to improve tax practice and administration within the African continent while also driving their internally generated revenue (IGR).
Currently driven by tax experts from Nigeria, Ghana, South Africa, Liberia, and Cote d’ Ivoire, tax practitioners under the aegis of Association of African Tax Institutes (AATI) are now sharing ideas on how to evolve a platform by which it could harness the experiences and gains garnered in the course of executing the dictates of their rules and regulations, charter or law, so that Africa, through a unified body, could work together for a common purpose.
John Femi Jegede, president, Association of African Tax Institutes (AATI), said at the inauguration of AATI that it will assist to bridge the divide between tax professionals in the countries of member bodies, their governments and taxpayers.
“The most daunting challenge we may likely face is ensuring that a professionalised tax administration and practice is established in the African region. In this regard, we will likely find the already established West African Union of Tax Institutes (WAUTI) as an ally towards attainment of this goal,” AATI president noted.
As a matter of urgency, we need to devise strategic ways of encouraging countries within the African continent that do not have professional tax bodies to establish one so that the potential gains of such could spread through the nooks and crannies of the continent. The unalloyed cooperation of stakeholders, especially the revenue agencies, will play the key role in achieving this aspiration,” Jegede said.
Rasaq ‘Kunle Quadri, president, West African Union of Tax Institutes (WAUTI), said: “Much as we have peculiar issues relating to our respective countries, there are areas where we can juxtapose our experiences, ideas, strategies, and resources to help achieve our common goals.
“It is no gainsaying that greater results and better approaches can only be gained through increased cooperation among people of like minds, similar goals and perspectives on issues as they affect their common interest. Obviously, our quest for greater economic stability and development will be but a pipe-dream if taxation is continuously relegated to the background. As professionals, our vocation has bestowed on us the duty of improving the processes leading to the enactment of tax policies, laws and administration.”
