Vanguard
19 November 2008
The President of the Institute of Chartered Accountants of Nigeria CHIEF (Dr.) Richard Uche Chukwu Uche, FCA has stated that the Federal Inland revenue Services has finally resolved the controversy over the rights of chartered accountants in Nigeria to practice as tax consultants.
In a statement signed by him he said "For some time now, there has been a controversy over the right of Chartered Accountants and other eligible professionals to practise Taxation in Nigeria, unhindered. We wish to notify the public that the controversy has been resolved in the Federal Inland Revenue Service (Establishment) Act 2007.
"For the avoidance of doubt, the Federal Inland Revenue Service (Establishment) Act signed into law on 16th April 2007 recognises the chartered accountant, among others, as a tax consultant under Section 12 (4), Section 68 and Section 69 (1).
The Section states that: "The Service may appoint and employ such consultants, including Tax consultants or accountants and agents to transact any business or to do any act required to be transacted or done in the execution of its functions under this Act: Provided that such consultants shall not carry out duties of assessing and collecting tax or routine responsibilities of tax officials."
Making the clarification he said "Section 69 (1) defines consultants thus: " consultants includes accountants, legal practitioners or any other professionals that have been certified by their relevant professional bodies in Nigeria."
While "Section 68 clears the air on relevance of other laws that "Notwithstanding the provisions of this Act, the relevant provisions of all existing enactments including, but not limited to, the laws in the First Schedule shall be read with such modifications as to bring them into conformity with the provisions of this Act".
According to him "If the provisions of any other law including the enactments in the First Schedule are inconsistent with the provisions of this Act, the provisions of this Act shall prevail and the provisions of that other law shall to the extent of the inconsistency be void"
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