President of the Commonwealth Association of Tax Administrators (CATA) and chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has called for increased capacity building to enhance tax administration processes among members of the global body.
Adedeji made the call on Wednesday in his remarks at the opening of CATA management meeting held at Marlborough House, Pall Mall, London.
He explained that expanding the capacity of tax personnel of CATA member countries would empower them to deal with the challenges that have negatively impacted the tax administration landscape globally.
The management meeting had in attendance tax administrators from the United Kingdom (His Majesty Revenue and Custom), Canada, Australia, Malaysia, Barbados, Papua New Guinea, Ghana, Lesotho, Maldives, Uganda, Mauritius, Nigeria and others.
The CATA president, who also called for further adoption of technology in improving tax processes, however noted that rapid advancement in tax technology presents both opportunities and threats.
"Furthermore, the rapid advancement in tax technology and digitisation has presented both opportunities and challenges for tax administrators worldwide.
"The discussions surrounding pillars one and two of the Organisation for Economic Cooperation and Development (OECD) have the potential to redefine international tax rules.
"Additionally, the landmark tax convention resolution at the United Nations (UN) Assembly has underscored the importance of international cooperation and inclusivity in addressing tax challenges.
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"In light of these developments, it has become increasingly evident that the need for improved and more comprehensive capacity building for CATA members is paramount.
"It is imperative that we equip ourselves with the knowledge and skills necessary to understand these evolving discussions and contribute to the formulation of transparent and beneficial rules for our respective jurisdictions.
"Moreover, we must be prepared to effectively implement these rules once they are concluded, in order to ensure their successful integration into our tax administration frameworks and maximise the benefit they will bring," he said, according to a statement by his special adviser on media, Dare Adekanmbi, .
OECD pillars one and two deal with how to expand tax revenue annually based on the profit thresholds of companies that do not operate physically in countries but make sales from such countries through digital platforms or other means.
The CATA president commended the management committee and members who have agreed to host the body's programmes in 2024, describing such commitment as a testament of the devotion to the success of the association's strategic plan.
