.png)
.png)
The Institute of Indirect Taxation (IIT) is to become part of the Chartered Institute of Taxation (CIOT), the professional bodies announced today.
The merger – voted for at the organisations' annual general meetings earlier this month – will create a total membership of almost 17,000.
Its unveiling comes only days after the CIOT named the 16,000th person to join its ranks: Sandeep Jalaf of Morrison FS Ltd will be formally admitted at the November admission ceremony. The IIT is made up of around 600 tax practitioners.
The newly expanded institute will be known as the CIOT and be presided over in the usual manner.
‘Indirect taxes are a fast-growing area of practice,’ said the current president, Patrick Stevens. ‘By bringing together the expertise and the resources within the CIOT and the IIT… we will strengthen the technical, CPD and educational offerings to members and students of both bodies.’
‘The overarching principle of the merger is that the DNA of the IIT should be embedded within the CIOT. We will put transitional arrangements in place to ensure this happens, and expand the profile of indirect taxes within the merged institute,’ added Mr Stevens.
The chairman of the ITT, Bob Davies, claimed the merger was ‘good news for indirect tax practitioners… By coming together we believe we will create a prominent player in the world of indirect taxation whose voice and influence are even greater than the sum of our parts.’
Also today, the CIOT announced it has licensed the Tax Institute of Australia to grant the designation chartered tax adviser (CTA) to its 13,000 members. The move follows the granting of the same right to the Irish Tax Institute earlier this year.
