For the digital economy, the Chartered Institute of Taxation of Nigeria (CITN) called for a thorough review of various tax strategies. This will resolve the uncertainty surrounding the taxation of the digital economy and to block tax leaks.

Speaking at the Institute's 47th Induction Ceremony, CITN President and Board Chair, Adesina Adedayo, testified about the new gold mine of technological innovation and how advanced economies have explored it to their advantage. For him, the fact that Nigeria and even Africa have not yet decided on an appropriate tax regime for the digital economy is detrimental to the economy.

“Several international and regional efforts have been deployed recently to address these issues. Some of these include the United Nations transfer pricing guidelines, efforts to regulate the erosion of the tax base and the transfer of profits through BEPS projects, the OECD transfer pricing guidelines, and the ATAF guidelines on intangible assets, among others,” he said.