In its drive to ensure full maximization of its revenue generating potentials and to commence tax Audit exercise of 2016 in earnest, the Lagos State Internal Revenue Service ((LIRS) has engaged 1200 members of the Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Chartered Accountants of Nigeria (ICAN) as Tax Audit Monitoring Agents (TAMAs).
This was revealed in a press release signed by Head,Corporate Affairs Lagos state Internal Revenueservice, Monsurat Amusa.
According to release, the TAMAs are authorized to act as agents of LIRS for tax audit and assurance purposes. The LIRS carried out a review of the appointment and operational procedure of the TAMAs in order to enhance efficiency in its audit exercise.
Their duty would be to collect requisite information during tax audit field exercises, collate, prepare and submit tax audit reports based on the facts gathered for use by the LIRS.
A workshop was organized for the agents at The Haven Event Centre, GRA, Ikeja, Lagos on Tuesday, April 26, 2016.
Present at the workshop were the Lagos State Commissioner for Finance, Mr. Mustapha Akinkunmi; Chairman, Lagos State House of Assembly Committee on Finance, Honourable Oluyinka Ogundimu; Executive Chairman of LIRS, Mr. Olufolarin Ogunsanwo, and other management staff of the agency.
In his opening remark, Mr. Ogunsanwo implored the TAMAs to demonstrate the highest level of professionalism.
“We believe you will demonstrate a high sense of responsibility and integrity in this noble assignment in line with international best practices as we hope to improve the internally generated revenue of the state and ultimately engender a sustained culture of voluntary compliance amongst tax payers in Lagos.
“I have no doubt in my mind that your professionalism will be of tremendous value during this year’s exercise and beyond,” Ogunsanwo said.
The revised Tax Audit Manual was also formally presented which highlights the systematic steps of auditing as well as ethical standards and codes in line with international best practice.
“The TAMAs at the Training undoubtedly emerged to be the best in the stock of applications that we received. The selection process was quite painstaking and took into consideration a number of preconditions, professionalism and track records in the most vital areas,” said the Board Secretary of LIRS, Mr. Jimi Aina.
Advising the TAMAs at the workshop, Director, Tax Audit, Mrs Bolaji Akintola, said, “The Image and reputation of LIRS is key in tax audit, therefore we charge you to stand for what LIRS stands for, by avoiding any form of compromise, illegality, unprofessional conducts and shunning all under the table transactions.
“Under the existing LIRS rules, erring agents may be delisted, prosecuted and reported to their professional bodies for further disciplinary actions.”
The venue of the event was filled to capacity as about 1000 Audit Field Staff of LIRS were also trained in the afternoon session of the seminar for the purpose of optimization and capacity building.
“LIRS values its tax payers very much, they are seen as the goose that lays the golden egg. We therefore charge our agents to deal with them courteously and within the confines of Tax Audit Manual and Personal Income Tax Act (ITA),” Mrs Akintola concluded.