When Two Become One - CIOT & IIT Merge
The Chartered Institute of Taxation (CIOT) and the Institute of Indirect Taxation (IIT) are to merge.
It follows the votes of members at the institutes’ general meetings on 15 May (CIOT) and 28 May (IIT).
CIOT president Patrick Stevens said: ‘The over-arching 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 to expand the profile of indirect taxes within the merged institute, for example in our events programme and member communications.’
The CIOT boasts some 16,000 members, the IIT around 600.
IIT chairman Bob Davies echoed similar sentiments: ‘This is good news for indirect tax practitioners. The two bodies have already given a great deal of thought to how the current IIT membership qualification and the CIOT’s indirect tax stream can be merged and we believe that the new structure for a CTA route for indirect taxes will build on the best of both its predecessors.
‘VAT and other indirect taxes are increasingly centre-stage in media and political debate, at both Westminster and Brussels. In the interests of good tax law it is important that the technical knowledge and experience of indirect tax practitioners is brought to bear in these discussions.
‘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.’