₦airaland Forum

WillyWonda1:
I really don't know what I did to my immediate boss since I got promoted earlier this year. Ever since I got my promotion letter, my boss changed to me abruptly. He suddenly finds everything I do useless.

When I noticed the change, I went to him and begged him to tell me what I had done wrong so we could settle everything and get back along. But he said I did nothing wrong and I shouldn't worry about anything. So I locked up and was doing my job to the best of my ability.
So he did something that sparked my madness and anger.

I got an email that I was to go on board our vessel to go and load from Lagos cos our mother vessel berthed in Lagos. And cos of my promotion, I'm not supposed to be a crew member anymore. But I was surprised to see the mail and went to his office to address the issue, next thing he said was 'IF YOU DON'T KNOW YOUR DUTY, YOU CAN RESIGN'.

That statement really sent chills down my spine and I sparked and told him really derogatory words. I don't even feel anyhow about my reaction.
I'm happy I told him his life history.
I'm very excited to have poured my mind out to him.
If I get sacked, I won't feel bad, rather I'll be glad I told him what I told him.
#Peace

Whoever counseled you to toe this line didn't advise you well at all.

I'm sure you must have bounced this challenge of yours against a few folks at home and youthful exuberance seems to have spoken.

My advise to you now is this - Go to your boss with a repentant heart and contrition and tell him you're sorry. Let him know you really mean what you say and make sure he gives you a positive nod or speaks a word of comfort to you.

After which, you humble yourself going forward and desist from anything that will make you to be at cross roads. If he gives you an assignment to do, do it joyfully and deliver on time.

Try this and let's see how it goes.

Wish you the best.

Selah!

Waakanda:
For this Buhari administration? Okay o... but he's playing with hunger sha.

[b][/b]

No, he's not playing with hunger. Rather, he'll be blessed more abundantly from quarters he least expects.

paramakina202:
Forcing people to stay at home and pray for Nnamdi Kanu is madness,who is he by the way?
His supporters can go on a years long fasting and prayers for his release but shouldn't impose it on the general public.

This is a picture of what to expect after the rapture of the saints. Everything will be forced on people without which you'll be seen as an outlaw.

Righteousness2:
This is not Mother/Father Nature.
This is a Shadow of Hell on Earth.
This is Biblical on Every Scale,
Bible Prophecies are unfolding live before us. Something Huge is set to Shake this Earth to its Foundation. I have said it over and Over that if GOD did not Spare Sodom and Gomorrah, He will not spare this Generation.

I advice, Admonish and Beesech all to Drop whatever is Deceiving or Distracting you from understanding the times we are in and the need to Quickly do the Needful.

Listen! What is about to hit this Earth is Unexplainable. We are in the Last of the Last Moments. Repent and Believe the Gospel of JESUS Christ so you can be Saved from the Calamities Coming on this Earth.

Let everyone that cares to listen, listen.

Continue the good work @Righteousness2. The good Lord bless you.

Many think that Jacob loved Rachael because she was beautiful,
beauty only attracts a man to a woman but what determines his true
love for a woman goes beyond beauty.

Rachael was not just beautiful, she was industrious per excellence.

Why do we have a lot of beautiful ladies today yet no husband?

Because beauty without value and virtue is like a smoke.

What impressed and attracted Jacob to Rachael was her
industriousness. While her brothers and elder sister Leah were at
home, Rachael single-handedly brought her father's flock to the well.

That was where Jacob met her for the first time. No sensible man can
resist a woman who is beautiful and industrious.What made a man worked
for seven years for the woman he loved and yet felt like he just worked for
seven days?

Value!

My man doesn't respect me, it is because you are not a
Value-Added-Woman (VAM).

Do you realize that Jacob did not pay Leah's bride price?

They gave him Leah as bonus. Because she had no value. This was why
Jacob had no respect for her and her children, hence he set them as first
entourage when he was going to meet his angry brother.

If you forced yourself on a man, he may never respect you.
If he got you cheaply, he will never respect you. If you are not
adding value to his life, he will never respect you.

Even after marriage, Leah was begging and buying the attention of
her own husband.

Rachael was practically in control of Jacob. Rachael was a
shepherd in the midst of her siblings, a profession meant for men.

She was in control of her father's business. This was what glued
Jacob to her.

Gen 29:9 Jacob was still talking with them when Rachel arrived
with her father's flock, for she was a shepherd.

How can boys be in the house and a girl (last daughter of the house)
be the one to tend her father's flock and family business?

Industriousness!

After Jacob slept with Leah, he still went for Rachael. Sex doesn't keep a man,
value does.

Leah had 5 children, Rachael had none, yet Jacob still loved Rachael more than Leah.

Having children is good but adding value is better. Don't ever think you can pin a man down with children.

If you like give him a nation, if you are not adding value to his life, he will work away someday.

I'm pleading with our parents not to raise their daughters in a way they will be liability to a man.

Make your daughter a shepherd before her Jacob arrives.

Give her a source of livelihood before marriage. If you want her husband to respect her,
give her quality education and hopeful future.

Don't train her merely because of the bride price you want to collect on her head.

Laban wasted the bride price he took for his daughter. But he lived on the flock kept by his daughter even after she was married out.

Be a Value-Added-Woman and your man will respect you.

Stay safe!!!

You will not fail in Jesus name.

Samuel Ifeanyi

Sonnobax15:

Righteousness2,must you convert everything to fit into your religious madness?

[b][/b]

It is not madness sir. It is a demonstration of love.

The time is very short. He needs to tell anyone that cares to listen of the urgency of the hour.

The King is coming back sooner than expected.

The Gospel has been preached to you.

Shalom.

youngmo001:
Please, say something.

Don't act petty. Let her go. If not, this issue might explode beyond the N5000 / N3000 you guys are playing out.

Do not down play the place of having a sound accounting system in place as well.

The powers contending for the destiny of this nation are unrelentless.

My sincerest prayer is that God will break their backbone and free this
country from their shackles.

This is an amazing initiative. More players should come into the field to help out.

Won't be surprised if he has a presidential ambition. Nonetheless, some people will benefit
from this. And the multiplier effect is huge.

Wike is saying it as it should be. It's one Nigeria and not one north at the expense of the resources of the south.

I sincerely hope our leaders will get it right for the good of all.

I'll appreciate a meaningful input into the questions asked above.

Hello, Tax Consultant(s),

Lend a voice to these questions.

1) Is VAT applicable to property and real estate transactions, or are buyers of real estate being made to bear an unnecessary unlawful cost?

2) As a consultant, how were you able to argue out your case against the F.I.R.S on behalf of your client who's in to real estate business that is being pushed to pay VAT ?

If you've considerable experience in this, do you mind sharing how you navigated it?

Regards.

Lawsaite:
[/b]Lolz. Stark ignorance.

[b]


Most of you guys type ignorantly.

Do you not know or have you not heard that "For with God nothing is impossible?"

[/b]

thesicilian:
Yes, but unlike Phillip, his ass is going to be deported the minute he's discovered to be an illegal immigrant by the French immigration authorities.

[b]

Listen to the message again, this time carefully and to the end, then, comment.

The truth is you're a covenant child. There's a special kind of grace that's on you that is not gifted to everyone.

Perhaps, your mum or dad must have prayed you into that position.

Going to Rant HQ to ask for understanding of this is not the right place to do so. Seek the audience of sincere
and genuine servant of God to help you interpret stuffs of this magnitude. Social media is the worst place to
deconstruct hard sentences of this nature.

More importantly, you can pray to the Lord to reveal the mystery behind this to you and He'll guide you into
all truth.

Stay blessed.

Regards.

Hello Doctors-in-the-House,

Top of the day to you.

I need your counsel on an issue that my wife is presently going through.

She's been complaining of pain in the right pelvic section of her right leg and she's never been pregnant before. She started feeling this discomfort two days ago and it so weakens her that she just want to lay on the bed.

I asked her if she would take a pain reliever and she said no. According to her, her menstrual flow should start on the 19th of this month and she wants to monitor it from now to that time to ascertain if she'll see her period or not. Thereafter, she'll know what to do.

Doctors, kindly advise.


Regards.


Brother Man

NB. I'll be seeing my Doctor this coming week to carry out a test on her but then, i'll appreciate your input.

Brother,

My sincerest advise to you is this - Get a genuine Prophet of God to stand by you in the place of prayer. Your uncles already have a plan of fight on ground and so, you must tread carefully, be full of prayers and fasting but don't be confrontational.

As per your daddy's shop, be bold to take over what belongs to you. Seek counsel of wise ones in the village and report them to Umu nna.

hisexcellency34:
Deji sha wan trend by fire, by force

Call this trending by fire, by force?

Don't think so.

I presume he's tired and needs to focus his attention on some other endeavours.

Running for 90 minutes round the field for 15 years or so is not mince meat. If he
decides to throw in the towel, it's all well and good.

It's about time to train up his little kids and give back to the community.

Mikel Obi, remain blessed.


Chi

PS
I don't know him from Adam

youngest85:
Eye service

How is that eye service?

Sincerely, I'm trying to figure it out.

A sick boy with a banner asking for a hug from Ronald, he came down, hugged and took a pic with him and you call that 'eye service?'

Ronaldo is not a Nigerian. He's an European. There's a big difference.

Gestures and random dispositions like this release unusual blessings into people's lives.

So, my friend, it is not an 'eye service.'

landforeast:
Ihedioha should stop this fight first and start work. No time to dull look at how Sanwo is working assiduously in Lagos

Start work with what? His personal money.

Are you from Imo State? If no, then you don't know the magnitude of what needs to be done.

Let Okorocha answer small questions.

lastmessenger:
Supper story. With that kind of money,you can live the best life ever,afford the best health care and give your children the best right here in Nigeria. The guy to me is very mayopic.
All he needs to do is to invest well or start up his own company.

The guy is not myopic.

He stated that armed robbers came to his house three times. Do you know what that means?

We're talking SECURITY here. Take that out of the equation and every other thing he owns comes to nothing.

Whatever amount he's paid, he'll make it back there and he'll be rest assured that his taxes will be judiciously utilised.

festacman:
Just look at Kenneth Omeruo feeling so fulfilled!

Natural talents are good. It is God-given toolkit for every human being to be successful in the world. Before the advent of civil service and corporations, people achieved fame and success through their natural talents.

Every child should be encouraged and guided to discover, develop and exploit his or her talent to survive in this poor-unfriendly world.

By the way, inventiveness and entrepreneurship are talents. It is not only creative, visual and performing arts. Of course, 'yahoo yahooing' and 'slay queening' are no talents!

May the good Lord bless your mind.

Preetti:
You won't know how much you're friendless till you need help and even those you've once helped would turn their backs on you.

You can say that again.

YorubaEmir:
He didn't do us any favors. He played and was payed

Was your account hacked?

Maybe, just maybe, there'll be less distractions and focus and productivity will skyrocket in the work place and individually.

One Sure Way Of Guiding Against Possible Tax Headaches With The F.I.R.S
==================================

Dear Business Owner,

Are you in business for the long haul? If yes, then, do not disregard this simple advice. If you do, or act ignorantly, be sure you’ll have yourself to blame when Uncle Sam, sorry, Uncle Fowler comes with his full squad of F.I.R.S investigators knocking powerfully on your company door effectively from July 1, 2018 to establish your level of tax compliance.

What is the advice?

If you sincerely want to prevent issues or headaches as the case maybe with the F.I.R.S, then, take heed to this warning -

DO NOT USE YOUR COMPANY BANK ACCOUNT FOR PERSONAL TRANSACTIONS. I repeat, DO NOT USE YOUR COMPANY BANK ACCOUNT FOR PERSONAL TRANSACTIONS.

THAT WHICH IS PERSONAL, USE YOUR PERSONAL BANK ACCOUNT FOR IT AND FOR COMPANY TRANSACTIONS, USE YOUR COMPANY BANK ACCOUNT FOR IT.

Someone I know is dealing with this challenge at the moment and the FIRS have asked that he submit his bank statements for three years (2017, 2016 and 2015) all because they saw large transactions in his corporate account via their webportal for which they claim VAT was not adequately captured & remitted. They've calculated N2,555,622 as outstandings on VAT to be paid by him.

It was also revealed that he understated his turnover for 2015, 2016 and 2017 based on the information received from their web portal and bank data information.

When asked about the large amount deposits in his corporate account, he said they’re personal borrowings and fund but they’ve have refused to believe him. Right now, it is his words against theirs.

I hope this helps.


Chidera

PS
The VAIDS ( Voluntary Assets and Income Declaration Scheme) of the FG will officially terminate on the 30th of June, 2018 and as far as the FG is concerned, they’ve given business owners and entrepreneurs ample space to take advantage of the VAID Scheme.

July 1, 2018 they’ll start banging on the doors of companies and possibly will seal up a few.

Practical Guide On How Business Owners Can Obtain Tax Clearance Certificate (TCC) With The F.I.R.S - CONCLUDING PART
=====================
CONDITIONS UNDER WHICH TAX CLEARANCE CERTIFICATES (TCC) MAY BE ISSUED BY THE FEDERAL INLAND REVENUE SERVICE (F.I.R.S)

CASE STUDY #3

Assuming you incorporated & commenced business a few years back (let’s say year 2010) but you are just filing returns in 2015 – How do you obtain Tax Clearance Certificate under this scenario?

Immediately a company incorporates and commences a business, then such an entity is statutorily required to be filing in the relevant tax returns as and when due to the F.I.R.S. These includes monthly VAT remittance and other statutory taxes such as the Company Income Tax and Education Tax.

Now, when business owners default in this regard, what then is the way out?

At this juncture, your company’s external auditor will prepare an Audited Financial Statements to be submitted to the F.I.R.S for the relevant years you did not file in your returns (i.e. from 2010 – 2014).

You won’t compute Company Income Tax & Education Tax for year 2015 but you’ll continue to remit your VAT on monthly basis.

In this situation, you will be exposed to Late Returns Penalty (“LRP”) as it is popularly called for late filing for all the years you did not obtain a Tax Clearance Certificate. Like I wrote in the previous post, the computation of the Late Returns Penalty will be on cumulative method of calculation. This is exclusive of interest which is at the current bank rate (26%) as at the time of this post. So, by the time you add up the numbers that should give you a fair idea of what you’ll be coughing out in taxes.

Below is a table normally used by tax authorities for computation of Late Returns Penalty.

Sidenote: This is just an example and for educational purpose only.

Example of Computation of Late Returns Penalty for VAT

[img][/img]

From the table, you can see the length of VAT evasion of this particular Business Owner and this just for a year. When you now take to account the numbers of years he’s defaulted in remittance that should give you a fair idea of what he’s in for.
This is no kid’s play.

Nevertheless, a seasoned tax consultant who understands the dynamics of negotiation can always help out. The tax consultant when done with negotiations will advise accordingly the MD of the company concerned and cheque will be drawn for payment of tax liabilities into the respective accounts of F.I.R.S.

In the event the MD is not able to pay off at a go, the payment can be spread.

At the completion of the payment, the tax consultant will formally apply by filling an “Application For Tax Clearance Certificate Form”. Three copies of the same form will be filled and submitted and an acknowledged copy returned back to the tax consultant.

Now, the Tax consultant will keep checking (either by phone calls or personal visit) to the tax office for the Tax Clearance Certificate. Once it is ready and signed by the Tax Controller of that particular Tax Station, an officer vested with the responsibility to issue it out fills out a hard cover register and the recipient acknowledges having received it.

Thereafter, you buy KFC for the boys or they it buy it themselves.

But then, you can escape the penalties and interest due you TODAY if only you can take advantage of the window currently offered by the Voluntary Assets and Income Declaration Scheme (VAIDS) of the Federal Government.



I hope this helps.



Chidera ANELE
Accounting| Tax Solutions| ERP Consultant| Real Estate

Practical Guide On How Business Owners Can Obtain Tax Clearance Certificate (TCC) With The F.I.R.S - PART 3
=====================
CONDITIONS UNDER WHICH TAX CLEARANCE CERTIFICATES (TCC) MAY BE ISSUED BY THE FEDERAL INLAND REVENUE SERVICE (F.I.R.S)

In order to buttress my point, i’m going to share with us three case situations and the practical steps required to obtain company’s Tax Clearance Certificate under each scenario.

Undoubtedly, your case should fall under one of the situations below if you are a company transacting business in Nigeria.

Carefully consider these steps and take them to heart.

The case scenarios under which TCC can be obtained includes:

1. New Tax Payer Status – Assuming you registered or incorporated your business with the CAC in January 2015 and you commenced business immediately in the same year.

2. Assuming you registered your business in 1995 or later but did not commence business immediately until let’s say, 2013.

3. Assuming you registered & commenced business some years back but you are just filing in returns in 2015.


CASE STUDY #1

New Tax Payer Status
Assuming You Registered Your Business In 2015 & Then Commenced Operations The Same Year – How Do I Obtain Tax Clearance Certificate Under This Scenario?

A whole lot of new tax payers fall under this category.

These are business owners who newly incorporated their businesses as a Limited Liability Company with the Corporate Affairs Commission

Before I go further on, i’ll appreciate you to be clear on a few important stuff:

 Before you can start off anything whatsoever with the F.I.R.S, you’d initially have sent in a written application on your company letter head addressed to the Tax Controller of the Integrated Tax Office in your business jurisdiction signed off by the Managing Director of your company.

 A letter appointing a particular firm of Chartered Accountants as your Auditor & Tax Consultant and a letter of acceptance will be submitted as well.

 You’ll attach alongside a copy of your Certificate of Incorporation and Memorandum and Articles of Association popularly known as (MEMAT) to the application.

 Upon submission, these documents will sighted and acknowledged by a member of staff of F.I.R.S vested with the responsibility to do so, thereafter, you will be registered as a “taxpayer” with the F.I.R.S. Once this is perfected you will be told when to come for your Tax Identification Number (TIN).

 Know that you’ll need to register for Value Added Tax (VAT) as well by completing an application for VAT Registration and also accompanying it with a Certificate of Incorporation, Memorandum & Articles of Association, Certified True Copy (CTC) of Form CAC 2 & CAC 7.

Once all of the above are taken care of you’re good to go.

If your organization commenced business transaction in 2015 then by default, you are not expected to pay Income & Education Tax yet, though you’ll have to remit VAT on monthly basis. You still have a grace period of 18months or one year & six months after incorporation to file in your returns.

If you want to obtain your TCC, then you’ll have to show verifiable evidence to the tax authorities that you are just commencing business operations.

Your Tax Consultant will formally apply for your Tax Clearance Certificate. In applying for TCC, three copies of the same forms will be filled by your representative and submitted. The copies will be acknowledged and a copy given back to your Tax Consultant.

F.I.R.S will start off the processing of your Tax Clearance Certificate (TCC) which will be signed by the Tax Controller of the Integrated Tax Office where you registered as a Taxpayer.

All things being equal, baring any hitch, your Tax Clearance Certificate should be issued to you in a month’s time.

Thereafter, subsequent transactions and correspondences with respect to your tax dealings will be handled in that particular tax office.

(Sidenote: A Tax Consultant who knows the dynamics should help you once you commence your business just so you don’t make costly mistakes that hurts.)

I hope this helps.

Watch out for Part 4 of this series.



Chidera ANELE
Accounting |Tax Solutions| ERP Consultant| Real Estate

Practical Guide On How Business Owners Can Obtain Tax Clearance Certificate (TCC) With The F.I.R.S - PART 2
==============================
What is the meaning of Taxpayer Identification Number (TIN)?

TIN (Tax Identification Number) is simply a unique number identification issued by the F.I.R.S to identify a person (company or individual) as a registered taxpayer in Nigeria.

It is to be used by the taxpayer alone. It is not transferable. A TIN is primarily issued in order to guide the tax payer in the remittance of his liabilities.

Consider this: commercial banks have been mandated by the CBN to request for the TIN (Tax Identification Number) from customers operating or opening a new corporate accounts before such accounts can become active.

It is also tied to many operations of government. For example, before you are issued a driver’s license you will be required to obtain a TIN.
As we progress, every tax payer will be required to have a TIN because it is only through that the F.I.R.S will be able to maintain a comprehensive database of taxpayers.

One of the major reasons why the TIN is hooked to your company account is because business transactions done in your business name will be captured at the portal of the FIRS and so monies due to the government in the form of withholding taxes and VAT will be adequately captured.

In other words, there is no hiding place for the taxpayer who defaults in making remittances & other appropriate returns to the Government.
TIN registration is a legal obligation of every person who operates a business in Nigeria.

Then, the next question that comes to mind is, of what relevance is the Tax Clearance Certificate (TCC)?

The relevance of a Tax Clearance Certificate (TCC) cannot be underscored.

Go back to the image of the TCC above, you’ll observe that it covers a period of three years in arrears. What this means is that your tax returns are computed on preceding year basis.


What do I mean?

Let’s assume, you applied for a Tax Clearance Certificate in March 2017. The face value of your TCC will reflect taxes paid three years backward excluding the year 2017 in which the application was made.

It will show taxes paid in the year 2014, 2015 & 2016. You won’t be penalised and denied your Tax Clearance Certificate if you are yet to pay your tax for the current year 2017.

This is what is meant by Preceding Year Tax. There’s a formula for computing it.

The points listed below are some of the critical reasons why you need a TCC (Tax Clearance Certificate).
1. Application for certificate of occupancy
2. Application for award of contracts by Government, its agencies and registered companies
3. Application for Government loan for industry or business
4. Application for plot of land
5. Application for import or export license
6. Application for approval of building plans
7. Application for foreign exchange or exchange control permission to remit funds outside Nigeria
8. Registration of Motor Vehicle
9. Application for registration as a contractor
10. Confirmation of appointment by Government as chairman or member of a public board, institution, commission, company or to any other similar position made by the Government
11. Appointment or election into public office
12. Stamping of guarantor’s form for a Nigerian passport
13. Application for transfer of real property
14. Application for trade license
15. Application for pools or gaming license
16. Application for firearms license
17. Application for agent license
18. Application for distributorship
19. Application for allocation of market stalls
20. Application for change of ownership of vehicle by the vendor
21. Application for registration of a limited liability company
22. Any other transaction as may be determined from time to time.

I hope this helps.

Watch out for Part 3 of this series.


Chidera ANELE
Accounting |Tax Solutions| ERP Consultant| Real Estate