EXPOSURE DRAFT OF STATEMENT OF TAXATION STANDARD 9 ON TAX PLANNING: REQUEST FOR COMMENTS
PREAMBLE
The Nigerian Taxation Standard Board (the Board) was inaugurated on Friday 26th of March 2010 and charged with the responsibility of exploiting areas of the tax system that would bring common grounds to tax administration and practice in Nigeria with the following Terms of Reference (TOR):
“ To develop high quality, clear, understandable and enforceable taxation standards for general purposes,
- To promote the use and application of those standards by way of communication with and education of users, clients and the general public.
- To promote and support research in the area of taxation services for the emerging economy.
- To ensure members’ integrity and level of advice of high standards in the eyes of their clients and the general public.
- To monitor developments within the Tax Profession and ensure that the standards are reviewed and updated on a regular basis”

The Board in 2012 reviewed the previously existing STS 1-3 and came out with STS 1-8 that became effective in January 2013as follows:
STS One: Know Your Client
STS Two: Tax Returns Position
STS Three: Procedural Aspects of Filing Returns
STS Four: Previously Agreed Tax Return Filing Position
STS Five: Form and Content of Tax Advice/Opinion
STS Six: Knowledge of Error: Administrative Proceedings
STS Seven: Knowledge of Error: Return Preparation
STS Eight: Use of Estimates

Now, in furtherance of its TOR “to develop high quality, clear, understandable and enforceable taxation standards for general purposes”, the Board has developed Standard 9 on Tax Planning. In view of this, the Exposure Draft of the Statement of Taxation Standard 9 on Tax Planning is being exposed for comments and contributions from all relevant stakeholders.

As a member/stakeholder, we hereby request you to kindly review the enclosed exposure draft document containing the ninth standard and forward your comments/contributions to technical@https://www.citn.org OR hard copy addressed thus: 

The Registrar/Chief Executive
Chartered Institute of Taxation of Nigeria 
Tax Professionals’ House
Plot 16, Otunba Jobi Fele Way, CBD, Alausa, Ikeja, Lagos

on or before Monday January 02, 2017. Please write the words: “Re: Exposure Draft on STS 9” on the left hand side of the envelope. For further enquiries, members/stakeholders can call 08033769147. 

Kindly accept assurances of our highest regard.

Yours faithfully,
The Chartered Institute of Taxation of Nigeria
Adefisayo Awogbade, FCTI 
Registrar/Chief Executive