₦airaland Forum

misterEli:
Senior men them, abeg any info?

Cc @funkystanl
@ednut1
@everyone

What kinda info?

samirnasri:
Wow! I find this really educative. I'm currently studying for an ACCA certification, so I recognized what you did. I'm glad to know they are similar, though the rates in the UK are relatively higher, the starting band being 20%. I am also in the interview stage in the current (2018) recriuitment process. Thanks for the help

Good to know it helps. All the best in your exam and recruitment process

LagosismyHome:
YES


A friend of mine Nigerian who studied Bsc med tech (outside of the US) ...went visiting on holiday to the U.S. and saw a med tech night shift job in a remote location. ...night shift only . She probably was the only applicant . Applied got in and they filed her h1b ... barely 2 years they filed her green card

She had her green card and moved on to clinical research CRA making good money. So she defined the stat that she didn't spend a cent on been a master student and was in the US on b1b2

Does that mean that the general demograph story ... nope. But there are always one or two . It is extermely difficult but one or two get lucky out of a thousand

Cool stuff. In addition I believe as students/young adults, we shouldn't forget the power of networking. It helps in our journey in several ways.

dyduds:
How about Advisory.. I hope the OPQ test evaluation is based on individual candidate's loS of choice and not just benchmarked with 'auditing '

E.g i get bored with routine and honestly stated that in the OPQ. I am also aware that Advisory isn't routinal, different companies different problem and objectives, even the same objective is different in nature as the organization differs.

Well I can only hope...

I'm not sure if this recruitment includes the advisory LOS. However, I think the OPQ is benchmarked against PwC values as a firm which cuts across all lines of service {LOS} .

Talking of routine jobs, it's subjective. Working with different clients across all LOS gives the opportunity to learn and work on different issues. But the solution set remains same based on your business unit, even in advisory.

MikeAsher2:
There is something many are not thinking of here.

The job market is crazy, like real crazy. However, as the oil price continues to remain north of $50, opportunities would gradually open up. It is already...

I know someone who left a design drafting firm for KPMG, and after some months was complaining about motivation.

Audit can be boring and a routine. You dress as required, working from client sites on pure accounting. And you would need to do ICAN/ACCA with your weekends for reading and training.

The money is just there BTW, only go there for career and choice. You can't easily flip LoS oh!!!!!

I know someone else who resigned only after some months, even though he passed the KPMG audit periodic test. It's not the company differences I'm pointing out, it's that everyone understands fully what they are getting into.

Work is not fun in a lot of places, and it's the same here. This is the point, engrs, pharmacists, science grads and co should rethink. Before you fake OPQ answers and enter!

Funkystanl, ednut1 can you explain more about the detailed responsibilities of a regular audit associate. The posting and working from client sites, the audit process from client engagement meetings to issuing audit certs, rules to follow etc., people that can't hack it there, and move elsewhere etc

I understand your concerns here. You've got sane thoughts.

Like I always tell people, if you intend joining a Big Four just because you are jobless or for the money, then you make a big mistake. Although most people are able to push thru by adapting to the pressures and changing orientation

There are many reasons why people join, a majority just for the experience and having a Big Four on their CV. I must say working in a Big Four is very challenging! And that's why I said on my last post, it's not advisable to lie in the OPQ, cos you'll face those challenges that will test those traits...and yes, to the limit.

In PwC I've seen people from natural, pure and applied sciences succeed well; and I've seen accounting grads that dont last 1 year {for whatever reason}. It's all about what you want for yourself and thinking it through if joining an audit firm is the way.

You really don't need to know the "detailed" responsibilities of an audit associate. All you need to know for now is the job description and what you stand to gain from the job. Rules are not cast {it's more of principles rather than rules}.

ascapella:
Hopefully, i should take the test today.
Our soon-to-be colleagues at pwc might want to help us on this question.

So, i applied for assurance and I see a scenario asking about leadership qualites, Team work abilities and excellence. Which do you think should be most likely and least likely among these three?

Someone up there said he saw a question that had conflicting attributes and all of them were good attributes ranging from leadership to teamwork and excellence and he didn’t know which to pick as the most likely or least likely.

*Personally, i feel i would pick teamwork first since mine is assurance (Mbok, i stand corrected oo). Help a brother.

Thanks Cc: TheRealAdonye Ednut1 funkystanl

First you may want to read this post by a colleague: https://www.linkedin.com/feed/update/urn:li:activity:6392488415065096192

Been some time I took this test, however I think the aim of the test is still same.

Like I posted 3 years ago:

The OPQ isn't something difficult. Like "they" say..no right and wrong answers...however true, I personally dont believe that. If your personality responses dont go in line with PwC, sorry for you. In view of this, you need to tailor your personality to PwC core values, Leadership, Teamwork and Excellence. Mind you the questions wont directly ask these values! Relationship also matters at this stage.

There are so many questions, and if you are not careful you are likely to fall into the trap of conflicting answers...a lot of us fell into this trap but nevermind if it is just one to three... I personally think this is another thing used to score the responses...your responses should be highly consistent, valid and reliable.

After the test, I'll advice you start prepping for the Interview and group discussion...especially those that haven't been interviewed anywhere before or scared of facing people....

In your responses you may want to pay attention to the following values: Act with Integrity, Care, Reimagine the possible, make a difference, and work together.

Please note that none of these values supercedes the other. They are equal and you should show trait of having all of them. I am aware the OPQ may put up a question that displays all the values and you are confused. Please select the one that relates best to the scenario {not also forgetting you own personality to the scenario}.

You may choose to lie about your personality for the test.. But not advisable, for your own good and the future of the firm. There is more to this statement.. Must take it on the surface for now.

I hope you are clear now. I wish you all the best...

JoeEINSTEIN:
Going through PwC threads year by year all the way back from 2013 till 2017 has given me hope, faith and motivation.

Seeing how people who didn't expect it scaled through the different stages kindled hope in me. Reading how ogas now, like Funkystanl, TheRealAdonye, Ednut1 began and waded through (some tried more than once) to finally receive that success mail has motivated me and makes me think this is possible.

I hope to give my testimony one day too, and I hope this moniker will be a reminder and source of motivation too for the coming generations of PwC applicants that they can do it too.

Waiting for OPQ link. Lemme go an' apply everything I have read and learnt in preparation for OPQ and interview. It shall be done!!!




P. S: God, if you get me into PwC this year, I promise to give you half of my first salary.

Lol... I hope you'll remember your pledge when you finally get the offer! I wish you {and all others} the best. Just be focused and determined for success {PwC or no PwC}. Cheers!

od4life:
Hi guys...can you throw more light on the Tax Identification Number (TIN)? I have the TIN card with my Tax ID number on it. The card has a micro-chip on it. Can this TIN card be substituted for the Tax Clearance Certificate? Thanks All.

Yes the card is same as your tax clearance certificate in Lagos/Ogun State. Not sure of other states. You can use the information on the card {tax number} to spool out your tax information from the RTAs, but this is usually updated annually.

agyo:
For your information, to all those referring to FIRS.


We now have FCT IRS. It deals with all this matters FIRS have handed over such matters to them.

On point.

Just wanted to know, have you had any successful dealings with the FCT IRS? And do you think for taxes paid to FIRS, FCT IRS can process requests relating to such?

ThierryJay:
What I think he meant regarding the second part of your comment is that while the OP was an employee, PAYE tax was applicable as the employer had the obligation to deduct and remit on his behalf, which is why employer files annual PAYE returns on employees' behalf and not annual PIT returns (regardless that PAYE is a subset of PIT).

When OP lost employee status, PAYE can no longer be applicable since he has no employer. Now, OP will be required to file PIT returns by himself on any income earned.

The key point is that PAYE deducted is only relevant for an employee. On the other hand, the law requires PIT returns to be filed by every person who earns income in Nigeria regardless of their status.

I think the guy knows what he's saying but only conveyed it in an hasty manner.

Thanks for the clarification.

erico2k2:
ask this, which is bigger tax or wages?
If I was an employee and do not have my own company all I have to show is my pay slip which contains details of my PAYE.( Pay As You Earn)
If I am self Employed then I will need to show proof of paying tax cos I am responsible for my tax payment no one else but if Employed my Boss is, do you see the difference?

I understand the difference. Note that your employer is only obligated to deduct, and remit the PAYE taxes as a tax agent...and also file the return for compliance. It doesn't take away the fact that its still a Personal income tax.

I will like you to read Section 44 of Personal Income Tax Act (PITA) that requires every individual to file returns of his​/her​ income and this is different from the filing your employer would have done for you​​ (as obligated by the Act). This is something a lot of Nigerians don't do. If we do, then we would have filled a form A showing details including additional income received outside employment income. You will also show your employment income and ask your employer to provide you with proof of payment of your taxes.

I repeat that your payslip is not a proof that taxes have been remitted. Only a tax clearance certificate (TCC) will show that...and to the best of my knowledge there is no authorised agency (solely interested in your payment of taxes) that will request your payslip as proof of compliance.

Backed by Section 85 of the PITA that states that relevant tax authority (RTAs) should issue a tax clearance cert if the tax has been fully paid. Subsection 2 and 4 of the same Section 85 also states that a Ministry, Department or an agency of Government or a commercial bank shall demand for the TCC and shall verify the genuineness by referring same to the issuing tax authority.

The transactions that could lead to request of the TCC includes:
(a) application for Government loan for industry or business;
(b) registration of motor vehicle;
(c) application for firearms licence;
(d) application for foreign exchange or exchange control permission to remit funds outside Nigeria;
(e) application for certificate of occupancy;
(f) application for award of contracts by Government, its agencies and registered companies;
(g) application for approval of building plans;
(h) application for trade licence;
(i) application for transfer of real property;
(j) application for import or export licence;
(k) application for agent licence;
(l) application for pools or gaming licence;
(m) application for registration as a contractor;
(n) application for distributorship;
(o) 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;
(p) stamping of guarantor’s form for a Nigerian passport;
(q) application for registration of a limited liability company or of a business name;
(r) application for allocation of market stalls;
(s) appointment or election into public office.
(t) for change of ownership of vehicle by the vendor;
(u) application for a plot of land;
(v) any other transaction as may be determined from time to time.

You cannot tender a payslip as a proof that you have paid taxes for the transactions highlighted above if the law was to be followed to the letter.

Why do you think expatriates in Nigeria request for their TCCs to take to their home country? Why cant they show only their payslips

erico2k2:
When you go for Visa application and Employed, what do you show them?
1 bank statement
2 Pay slip.
As for the bolded once you work PAYE is taken. There is no way you will work and tax is not taken from you, unless you do not work.

When you are contesting for a political office, or bidding for a government contract or LASTMA guys hold you {as I recently learnt} you can show them your bank statement and payslip as proof of paying taxes, right?

You are missing the point. Depending on the kind of visa you are requesting, the consulate is not really interested in your taxes but proof of financial capability and that's where your payslip would suffice. You need to look at the underlying issue.

erico2k2:
Pay slip is enough and absolute world wide if you are employed. There is no other proof of tax.

I'm surprised. What's the validity of a payslip for taxes?a paylsip that can be falsified. Don't forget what we are talking about here is proof of tax payment... Not earnings.

But if that's what you know and you are sure of... Its fine!

Osyxcel:
If Gross Annual Salary is #300,000 or below, then the tax rate will be 1%.

If after taking consideration of Pension, NHF and Consolidated reliefs, the taxable income is #300,000, then the tax rate should be 7%.

Yes you are right but there is a gap in your comment. Based on the personal income tax act, the first 300k {not 300k exactly but the first sum of money up to 300k} of your taxable income is taxable at 7%.

However if your gross is less than {not equal to} 300k then the tax rate is simply 1% of the gross. Without taking deduction for reliefs. The reason for this is because the reliefs granted is based on an amount of about 300k.

erico2k2:
I get your point, but what would he be looking for that requires he make sure his past employers paid his tax into the system? I think all he needs make sure of is that the correct tax was deducted, the part of remittance is the sole duty of the government. For any tax verification you are only required to show your payslip nothing more. But I'm sure if there was other reasons to this then I don't know.

A payslip? That's not enough. I don't know of any authorised agency that accepts a payslip as proof of tax payment.

Adekdammy:
It's 7%.

Yeah. 7% of what? Taxable pay. Which is the gross salary less reliefs. If u deduct the relief from the gross u have some amount less than 300k which you apply 7% upon. To get the tax. Now divide that tax amount by 300k you will not get 7%. That's why it's called effective tax rate

erico2k2:
NO he does not reason even if he managed to get it sorted the tax still goes to the government of the day, so who pays for his time and resources used in achieving this? see the logic? all he needs to make sure is that his pay slip carries he tax deduction that's it. However what all you guys working in 9ja need to fight for is make sure your pension deduction is remitted. that's the real deal.

I beg to slightly disagree. I understand and agree with you that resources will be wasted for a return that does go directly to the OP. However, the OP is looking at a future {which may just be 2019} where he needs something from the government/or the people... Its important we start getting things right in this countryb2ithiut necessarily looking at the immediate/direct implication.

Adekdammy:
I doubt the company is paying any paye on your behalf cos paye is not 5% of your salary.

You can confirm from here
www.lasg-ebs-rcm.com › Verify-etcc-card

There is a possibility, if the annual salary is about 300k. The marginal {effective} tax rate will be about 5% after taking into consideration of CRA {consolidated relief allowance} and other statutory deductions.

Remember PAYE is on a graduated scale and the tax rate is applied on the taxable pay after some reliefs have been deducted.

FakoMaybach1:
Bros Your location is the most important aspect, if you are in Abuja then it will go to FIRS but for any other state your taxes goes to the state internal revenue board.

Bros i have to tell u that pursuing this is a waste of resources, when you were working with them your taxes were classified as PAYEE, that is pay as you earn...now that you have quit it will be cancelled and turn to Personal Income tax. so you pursing them for remitting Payee is not your duty but that of the government, and you are not responsible for them not paying. be at rest

I am a tax consultant and an auditor, for more information and if you need my services a mail will do

CiAO

I disagree with the bolded. We all have a duty to hold employers accountable for taxes {including other statutory deductions} deducted from employees salary. And it's a bit confusing when you said PAYE will be cancelled and turn to PIT... Is PAYE not a type of PIT?

OP, I'm not sure if you referring to only tax or other employee related deductions such as pension and NHF.

For TAX, it depends on the state you are tax resident. If you are in Lagos {or Ogun, portharcourt, abuja} you should have a tax clearance card/certificate {TCC}. If you are in Lagos its a card that displays a unique tax ID which you can use to verify {online} taxes remitted to the Lagos State tax authority.

I understand this TCC is usually difficult to get by most companies, however all companies are required to file employee tax return every year. Ask your company to produce the cover letter used in filing while they also show you the Form H1 with your name on it. Because the firm H1 is a schedule of all employee earnings and taxes it may be difficult to show you... But other employee information can be shaded.

In the event where any of the above is unavailable... You can whistle blow to the relevant authority. However look at the cost-benefit before doing this.

LagosismyHome:
This is how to dress a nake.d topic.....
Not bend down select but better cloth

I must say, that is a good analysis (on the surface) from bigfrancis21

Enasdan:
thanks so much for your response,in the notification, e-mail WES sent me, the VDR was sent to my issuing institution for verification via standard mail, for six weeks now my school hasn't received the document for verification.

Is this US or Canada WES? If it is US, you may want to follow up with the email option (usually US WES uses both email and post). For Canada, I am not too certain. I want to believe they use the same approach. If strictly postal mail then you just have to be patient or request for WES to resend (probably lost in transit...naija things)

Enasdan:
good morning everyone, l have a challenge is six (6) weeks now WES notified me via e-mail that VDR, photocopies of my transcript had been sent to my issuing institution for verification, l have been contacting my school every week for five weeks now, they have not received any document from WES, please for those of us who had similar situation and experience, how can l resolve this,my verification report is urgently needed, is really frustrating, thanks for your swift responses in advance.

You can ask the school to check its email. Also if the person in charge is using your WES reference number to search the mails let him/her use your surname instead. The reference number on the vdr notification mail is slightly different. Generally, WES evaluation is a long process for Nigerians especially if it's a course by course evaluation.

osothermal:
By God's grace we would be tying the conjugal knot on the 16th of December at winners chapel Aduwawa Benin. who says nysc relationships dies after service .To God be the glory

God bless your union bro. You look good together! Cheers!!

Been a while here.... "Just passing by" . I'm sure most of the queries/questions have been answered by great people here directly or indirectly {read between the lines}

Cheers!

More of this {and sth similar} in other states
Instead of useless nysc lectures, staff from companies like this should teach Corp members rudiments of production
Selected corp members to be posted to such companies...
Then I'll begin to see a better Nigeria

About 2k... for some printing and binding. Most of my work was via Google Docs with my supervisor! Free access to school internet.... I had data from a prior study and I analysed myself.

Finally.... Good for the Fagbohuns! Good for the Ogedengbes. I hope the community gets better development hereafter.

Akesan.... Spent most of my years in that "village"

Cheers!

Emmaesty:
There are two ways to gain employment in a bank.

The first way is to gain employment through the graduate trainee program. Here you will apply for a job online, go through numerous tests and interviews by the bank and then if selected, you will be asked to come for the training school. The training school usually lasts for 2-4 months depending on the bank. After graduation from the training school, you will be posted to operations, customer service, marketing and the likes. Here, you will be known as a full staff with your salary starting from 150k depending on the bank.

The second way to gain employment is to apply via a recruitment agency. Sterling Bank uses workforce, I think Gtbank uses VLA. These recruitment agencies will conduct the tests and interviews on behalf of the bank. If successful here, you will be sent to the bank for a one week induction depending on the bank and you will be posted to operations and customer service. Here you will be known as a contract staff with your salary starting from 70k.

Hope I have been able to answer your question.

Nice one

Love Machine:
I don't believe that fine Will affect mtn because it is still subscribers credit balance that mtn will illegally deduct the fine to pay fg not from their Pockets.

But why Think about it critically especially accounting wise...

Shinelle:
Pls I have sent you a pm @ Funkystanl

And I have replied you.