₦airaland Forum

Human Rights Lawyer, Femi Falana, has called on the Federal Government to propose a Money Bill to the National Assembly before the implementation of the increase in Value Added Tax. Falana told the News Agency of Nigeria in Abuja that the National Assembly erred by inviting the Minister of Finance and the Executive Chairman of Federal Inland Revenue Service to clarify issues of VAT increment.

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The Buhari Media Organisation (BMO) has cautioned the Peoples Democratic Party (PDP) to stop crying wolf or seeing ghosts where none exist, especially over federal government’s plan to increase the Value Added Tax (VAT) from 5 per cent to 7.5 per cent. Reacting to the PDP’s rejection of VAT, the group warned the opposition party to stare clear of matters that it does not have a full understanding of.

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Executive vice Chairman of Famfa oil has described the planned increased of the Value Added Tax (VAT) from its current 5 per cent to 7.5 per cent by the federal government as a threat to entrepreneurs in the country.

Read more: https://innerkonsult.com/folorunso-alakija-reacts-to-vat-increment/

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It was in the news last week, that the Federal Government of Nigeria is planning to increase the Value Added Tax rate (VAT) from 5% to 7.5% - a proposed fifty percent increase. Some have harangued that the increase is justified because the rates applicable in other jurisdictions is as high as 20% in the EU, and averages 19.3% amongst OECD member States (although it could be as low as 7.7% in Luxembourg).

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Lagos State Government has revealed that of the 4.8m registered taxpayers only about 700,000 are paying. It, therefore, implored residents to perform their civil responsibility of paying taxes, alongside actively participating in the governance process. The Commissioner for Economic Planning and Budget, Mr. Samuel Egube stated this at the Year 2020 Budget stakeholders’ meeting for Lagos Central Senatorial district. At the forum were representatives of community and professional associations, traditional rulers and civil societies.

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Nollywood actress, Iyabo Ojo is almost at the verge of shutting down her shop over excessive Taxation by Sanwo Olu’s goverment in Lagos State. The movie star took to her Instagram account late on Thursday night, September 12, 2019, to lament the tax debt levied on her by the Lagos state tax agency.


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Chairman, Federal Inland Revenue Service, Babatunde Fowler, has advised accountants against colluding with tax evaders, warning that they have no power to substitute accounts. Fowler gave the advice on Wednesday at the ongoing 49th Annual Conference of the Institute of Chartered Accountants of Nigeria, where he was the keynote speaker at a panel discussion on FIRS Power of Substitution. Critical Review and Matters Arising. The discussion was chaired by former FIRS Chairman, Ifueko Omoigui-Okauru.

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Inter head coach Antonio Conte said star striker Romelu Lukaku must train more to be in great shape due to his physique. Lukaku experienced a quiet game as Inter suffered a 2-1 loss to Serie A rivals Juventus in the Derby d’Italia at San Siro on Sunday. A club-record signing from Manchester United before the transfer window shut, Lukaku returned to the lineup after missing Wednesday’s Champions League defeat against Barcelona due to a muscular problem. Asked about Lukaku, Conte told reporters: “Romelu is definitely a player that must train more, because being a player with a massive body he needs to train, to play, to be in great shape. “At this beginning of the season he had this back issue, now he’s been dealing with this other quadricep issue since the game against Lazio. “But I think he gave everything, it’s inevitable that against Barcelona we didn’t have Lukaku and it was important to have him. And we didn’t have him. “However, Romelu as well as very committed today, he tried to do his best, and now let’s hope he can leave these little issues behind him and be at his 100 per cent.” Lukaku has scored three goals for Inter since arriving from United for a fee understood to be €80million (£73m) in August.

Source: Guardian

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ARMED with a twin-argument on the need to raise revenue and match the continental standards, the Federal Government is about to implement a hike in value-added tax rate from five per cent to between 7.2 and 7.5 per cent. First, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the sub-national governments in particular would need to fund the new minimum wage with the extra income from VAT.
Second, at the current rate, government argues that Nigerians are paying the lowest VAT in Africa. It is a truism that modern governments run on tax, but beyond the mere increase of the VAT rate, the most critical issue for the authorities is to implement a wider, holistic tax reform. An increase in VAT now will hurt low-income Nigerians the most. If the controversial proposal sails through in the National Assembly, VAT revenue will shoot up to N2.09 trillion in 2020, Ahmed stated. She said, “The Federal Government will be receiving proposed aggregate of N4.26 trillion from the Federation Account and the VAT pool. The states and local governments are expected to receive N3.04 trillion and N2.27 trillion respectively.” On the surface, this looks sound. To the government, the upward VAT adjustment is enough to meet the increased personnel costs of the three tiers of government. Currently, with N18,000 as the minimum monthly wage, a majority of state governments find it difficult to pay wages and pensions so the extra funds will come in handy. Already, without the implementation of the new minimum wage, the personnel cost of the Federal Government rose from N1.7 trillion in 2017 to N2.1 trillion in 2018. So, the new rate is also essentially to cater to the new wage of N30,000, the implementation of which is being delayed by the consequential adjustments for senior civil servants. In all this, government is emboldened by the situations in other climes. At five per cent, the authorities collected N1.1 trillion in 2018, amounting to 0.09 per cent of Gross Domestic Product compared to about 3.8 per cent in the Commonwealth and ECOWAS, a PwC report notes. The government is disingenuous when it cites higher VAT rates in other countries. A World Bank report argues that VAT potentially distorts consumer behaviour less than many forms of indirect taxes and may therefore be comparatively efficient in generating government revenues. However, they involve some drawbacks, both in terms of efficiency and equity. By law, the European Union member countries are required to levy a standard rate of at least 15 per cent, but permit a reduced rate of at least five per cent, thus enabling members to have several rates to protect the lower income earners. Cyprus has a standard rate of 19 per cent, but charges only five per cent on basic foods, medicines, books and newspapers while charging nine per cent on catering and hospitality, its mainstay. Germany, Montenegro, Malta and several other EU countries also charge far less on food and medicines. VAT is used creatively elsewhere to meet national economic goals. But that is only half of the story. In most of these countries, social infrastructure is available and works efficiently. The tax net is inclusive and evasion and leakages are punished maximally. Here too, 23.9 per cent or over 20 million of the working population is jobless, inflation at 11.37 per cent by first quarter 2019 and GDP grew a disappointing 1.9 per cent in 2018, while foreign transactions on the Nigerian Stock Exchange dropped by N106.31 billion and domestic transactions dropped by 71.16 per cent. At a time like this, revamping the economy and creating jobs should be the primary goal; government should avoid policies that will translate into higher cost of living, higher costs for business or more factory closures and job losses as enunciated by the distraught private sector. It is a simple economic principle that keeping more money in people’s pockets is one sure way to get the economy back on track and reduce poverty. Nigeria is already the poverty capital of the world and the current figure of 94.35 million extremely poor could rise. An increase will invariably raise the inflation rate as VAT, a tax on all goods and services in the country, including imports, will hit the most vulnerable in a country that is import-dependent, even for food. The cynical resort to across-the-board tax increase to meet the increased wages of less than two per cent of the population is defeatist. Generally, poorer households spend a larger proportion of their income. A VAT is therefore regressive if it is measured relative to current income and if it is introduced without other policy adjustments. The government’s argument that it will make more money available to the states, who take 85 per cent of it, is also puerile as it imposes an unfair burden on Lagos that contributes 55 per cent of VAT, the FCT 20 per cent, while the remaining 35 states generate only 25 per cent. To be sure, VAT rate, after 25 years, ought to be reviewed in line with current realities and national aspirations; It can be raised for some goods and services, lowered for others or the increase could be graduated over a period. The trouble with our public finance is mostly one of excessive spending, not inadequate VAT. Corruption and waste define governance here. Wealthy Nigerians hardly pay tax. No serious government should feel comfortable in a situation where only 14 million of the 69 million taxable Nigerians file their tax returns annually. It is unimaginable that only 214 Nigerians paid up to N20 million or more as tax in Africa’s largest economy, according to the Vice-President, Yemi Osinbajo. The government should summon the political will to ensure that the well-heeled who are currently not captured in the tax net are brought in. In functioning countries, government takes serious exception to tax evasion, for which reason the offenders are seriously punished. National Assembly members are set to buy cars with public funds; the government has refused to cut cost of governance or let go of loss-making state-owned enterprises, open up railway, airports, and the seaports sectors and sell the extremely superfluous Ajaokuta Steel Company Limited. The government should also ensure that it runs a trim and nimble government so that the cost of governance will be drastically reduced.

Source: Punch

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The digital transformation of the global economy and the shift towards a user-based digital market that has been primarily driven by the evolution of the internet and the increasing interconnectedness that it facilitates between people and multinational enterprises (MNEs) create significant tax challenges for all jurisdictions and for international taxation.
The tax challenges relating to the digitalisation of the economy and in particular the fact that many MNEs have reduced their effective tax rate significantly (via the exploitation of the existing ‘nexus’ rules through targeted international tax planning) by shifting profits to low (or no) tax jurisdictions, rather than paying their share of taxes in the jurisdictions where value is created, have been a key aspect of the Base Erosion and Profit Shifting (BEPS) Action Plan implemented by the Organisation for Economic Cooperation and Development (OECD). The main challenge that the OECD aims to address is the one that relates to the existing “nexus” rules that allocate the right to tax the profits of non-resident enterprises to the jurisdiction where these profits are sourced and where physical presence exists (i.e. through the creation of a permanent establishment). The profit allocation as per the existing “nexus” rules is based on the arm’s length principle and the authorised OECD approach by focusing on the concept of “significant people functions” which looks at the functions performed, assets owned and risks assumed by the non-resident enterprise. Until recently, the existing “nexus” rules were perceived by many international tax experts as the most appropriate method to allocate taxing rights to the jurisdictions where the physical and economic substance is created. However, they are now rendered as obsolete, since they are not effective when it comes to the allocation of taxing rights for the profits that arise as a result of the value created from the exploitation of data and user participation, which are the main characteristics of the new highly digitalised business models. Further to the OECD BEPS Action Plan and the need to address the aforementioned tax challenges relating to the digital economy, the EU Commission issued several proposals for directives on a revenue-based “digital services tax” and the introduction of a digital permanent establishment (PE) concept (also referred to as “virtual PE”). Despite the fact that the Economic and Financial Affairs Council of the EU (Ecofin) did not reach an agreement on the “digital services tax”, member states like France and the UK have recently introduced new domestic legislation which provides for a “digital services tax”. While such an initiative may be a step in the right direction, it creates further challenges. Unilateral tax measures facilitated by the application of a revenue-based “digital services tax” will result in double taxation for MNEs, which cannot be relieved under the existing provisions of double tax treaties. In order to address the aforementioned issue and ensure that the sustainability of the international framework for the taxation of cross-border activities is not undermined, it is imperative to reach consensus at an international level. This is also stressed in the programme of work recently published by the OECD/G20, as part of an initiative to develop a solution to the tax challenges arising from the digitalisation of the economy. According to the programme, the aim of the OECD/G20 is to develop a consensus-based solution by the end of 2020, which will be based on the revision of the existing profit allocation and nexus rules and the design of a system to ensure that MNEs pay a minimum level of tax, in an attempt to prevent base erosion and profit shifting.

Source: Global News

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Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), has advised the Federal Government to intensify efforts in implementing the five per cent Valued Added Tax (VAT) rather than increasing it. Nzekwe gave the advice in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun, on Saturday.
Nzekwe spoke while reacting to the announcement of the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on VAT increment. The Federal Executive Council had on Wednesday, approved the proposed plan to increase the VAT from five per cent to 7.2 per cent. Nzekwe noted that enforcement and implementation of the VAT was the major challenge confronting the country. “Increasing the nation’s VAT is not the problem but the implementation is the major problem facing the country,” he said. Nzekwe explained unless the Federal Government worked on effective implementation of VAT, the proposed policy would not achieve any meaningful result. “VAT system should be reformed because the nation has the problem of implementation,” he said. He said that less than 50 per cent was in the VAT net because the Federal Inland Revenue Service (FIRS) lacked the capacity to collect it. Nzekwe urged the FIRS to redouble efforts to getting more people into the VAT net. He, however, advised the Federal Government to be cautious as the propose increase of VAT from five per cent to 7.2 per cent would drastically affect the new minimum wage in the country. Nzekwe said that the ability of the Federal Government to effectively reform the VAT system would make more funds available for it rather than increasing the VAT to generate additional revenue.

Source: Daily post

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The Nigeria Football Federation has described the death of former Nigeria U-20 and U-23 captain Isaac Promise as tragic. NFF’s general secretary, Dr Mohammed Sanusi, said the federation was greatly saddened by Promise’s death. The ex-Eagles midfielder’s death came less than 48 hours after two women footballers of Nigeria Women Professional League side, Police Machine FC of Uyo, were crushed to death by a hit-and-run driver, after a training session in the Akwa Ibom State capital. He said, “This has been a tragic week for Nigerian football. Promise was a very disciplined, energetic, committed and patriotic player who gave his all every time he put on the green-and-white. “We do not know yet the cause of death, but we mourn his untimely passing at such a young age. Our prayer is that Almighty God will grant his soul eternal rest and also grant those he has left behind the fortitude to bear the big loss.” Promise was captain of the Nigeria U-20 squad that won the 2005 African Youth Championship in Benin and finished as runners-up at that year’s U-20 World Cup in The Netherlands, losing narrowly to Argentina, complete with Lionel Messi, in the final. He also captained the U-23 team that won silver in the men’s football tournament of the Beijing 2008 Olympics, again finishing second behind Messi-led Argentina.

Source: Punch

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The Nigeria Football Federation (NFF) has described as ‘shocking’, reports yesterday evening that former Nigeria U20 and U23 captain, Isaac Promise had died. NFF General Secretary, Dr. Mohammed Sanusi, said the Federation and indeed the entire Nigerian football community was greatly saddened by the report, coming less than 48 hours after two women footballers of Nigeria Women Professional League side, Police Female Machine FC of Uyo were crushed to death by a hit-and-run Jeep driver after a training session in the Akwa Ibom State capital. “This has been a tragic week for Nigerian Football. Isaac Promise was a very disciplined, energetic, committed and patriotic player, who gave his all every time he put on the green-and-white. “We do not know yet the cause of death, but we mourn his untimely passing at such a young age. Our prayer is that Almighty God will grant his soul eternal rest and also grant those he has left behind the fortitude to bear the big loss.” Promise was captain of the Nigeria U20 squad that won the 2005 African Youth Championship (later renamed U20 Cup of Nations) in Benin Republic with a flourish and finished as runner-up at the FIFA U20 World Cup in The Netherlands the same year, losing narrowly to Argentina (complete with Lionel Messi) in the final. He also captained the Nigeria U23 team that won silver medal at the men’s football tournament of the Beijing 2008 Olympics, again finishing second behind Lionel Messi-led Argentina. According to a press statement by his club, Austin Bold FC, Promise died on Wednesday night at the age of 31.The 31-year old last played for Austin Bold FC in the USL Championship. Promise played professionally for 14 seasons, much of which was spent in Turkey. He scored a total of 77 club goals during his career. An accomplished player, Isaac became the club’s seventh signing in history in August 2018 after spending the previous 12 seasons in the Turkish Süper Lig, TFF First League, and the Saudi Professional League. In that time, Isaac registered over 350 appearances and scored 79 goals.

Source: Guardian

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Manchester United stuttered to a drab 0-0 draw against AZ Alkmaar in the Europa League group stage on Thursday, while Steven Gerrard’s Rangers conceded an injury-time goal in a 2-1 loss at Swiss side Young Boys. Ole Gunnar Solskjaer’s team again struggled badly in attack and failed to test Alkmaar goalkeeper Marco Bizot to leave United still searching for a first away win since March. Academy product Brandon Williams was handed his first start for United, who saw teenager Mason Greenwood denied by a superb block from Ron Vlaar on 30 minutes. The game was played in The Hague, on an artificial surface described as “one of the worst” by Solskjaer, after a storm damaged Alkmaar’s home ground in August. United were without Paul Pogba after the midfielder aggravated an ankle injury against Arsenal on Monday. He was also left out of the France squad named Thursday by Didier Deschamps. Since their 4-0 thrashing of Chelsea on the opening day of the Premier League campaign, United have failed to score more than once in any match. They rarely threatened in the Netherlands with substitute Jesse Lingard firing wide and Solskjaer reacting in disbelief when Marcus Rashford appeared to be chopped down in the penalty area. Owen Wijndal and Oussama Idrissi forced David de Gea into a couple of smart saves at the other end as the draw left United level on four points in Group L with Partizan Belgrade, who won 2-1 away to Astana. Colombian forward Alfredo Morelos put Rangers ahead just before half-time in Bern, but Young Boys levelled through Roger Assale before Christian Fassnacht grabbed a 93rd-minute winner for the hosts. Goals from Jens Toornstra and Rick Karsdorp gave Feyenoord a 2-0 home victory over Porto in a clash of former European champions in the other match in Group G. Wolves, in their first European campaign since 1980, rebounded from an opening loss to Braga as Willy Boly’s stoppage-time goal earned them a 1-0 win at Besiktas. Braga and Slovan Bratislava drew 2-2 to bump both sides up to four points at the top of Group K, while Austrian debutants Wolfsberg drew 1-1 at home to Roma in Group J. Arsenal host Standard Liege in Group F later while Celtic take on CFR Cluj, the Romanians who ousted them in the third qualifying round of the Champions League.Five-time Europa League champions Sevilla are also at home to APOEL.

Source: Punch

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Tax authorities in the country have been warned against scaring off foreign investors from the country in their efforts to shore up government revenues. The Managing Consultant, Pedabo Associates Limited, Mr Albert Folorunsho, said the global tax compliance drive would have implications for Foreign Direct Investment in Nigeria.
Folorunsho stated this while delivering a keynote paper at the investiture of Dr Titilayo Fowokan as the third state chairperson of the Society of Women in Taxation (Lagos Chapter) on Saturday. “Nigeria is not isolated from the global tax drive to boost revenue and prevent base erosion and shifting of profit from Nigeria to other tax jurisdictions,” he said. He said Nigeria and over 100 countries signed the multilateral instrument on prevention of profit shifting, adding that some measures were adopted by the Federal Inland Revenue Service from the global tax approach. Folorunsho noted that the FIRS had introduced other measures aimed at increasing tax revenue including plans to start charging Value Added Tax on all online transactions and strict enforcement of tax payment by placing lien on taxpayers’ accounts. He said, “Tax-related issues that can affect Foreign Direct Investment in Nigeria negatively are dividend tax; multiplicity of taxation by various organs of government; lack of advance tax rulings on certain issues; ambiguity in tax laws; wrong interpretation and application of the tax laws; uncertain tax regime, and circle of unending tax audits/investigations by tax authorities.” According to him, for Nigeria, FDI will be more affected by the approach of local tax regulators than the global tax drive. “This is because the global approach to tax drive is yet to be enacted into our local laws to make them applicable and effective in our environment,” Folorunsho said. He said the implication of the global tax drive by other jurisdictions for Nigeria might be positive if the country could operate a more friendly tax environment based on the existing tax laws. “However, aggressive tax drive by tax authorities can impact FDI negatively. Unhealthy approach to tax drive will scare investors from Nigerian economy. Though there has not been significant decrease in FDI to Nigeria for some years, tax drive cannot be said to be the factor responsible for the decreased inflow. Uncertain tax regime or hidden taxes will discourage FDI,” he added. According to Folorunsho, as the impact of the current global tax reform takes root, mobilisation of capital across jurisdictions will become fairer and more competitive. “Nigeria cannot achieve her full potential by increasing tax revenue alone. Government, in its effort to increase revenue generation through taxation, should always be mindful of its impact on the economic growth drivers, one of which is foreign direct investment,” he added. The President/Chairman of Council, Chartered Institute of Taxation of Nigeria, Gladys Simplice, said the CITN would continue to collaborate with relevant stakeholders towards sensitising all Nigerians on the need to pay their taxes. She said, “There is no hiding place for tax defaulters any more, in view of the increased collaboration among tax authorities and agencies towards ensuring that all corporate entities and individuals are brought into the tax net. “The recent launch of the taxpayer identification number registration system underscores the seriousness government accords to this.”

Source: Punch

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Liverpool survived a huge scare to get their Champions League defence back on track as Mohamed Salah scored twice in a thrilling 4-3 win over Salzburg at Anfield, despite blowing a three-goal lead. Sadio Mane opened the scoring against his former club before Andy Robertson and Salah put the holders in command inside the first 36 minutes before Salzburg bore their teeth. Liverpool’s storied history in this competition has been littered with famous comebacks from 3-0 down, but the shoe was nearly on the other foot after half-time as Salzburg threatened an incredible recovery. The Austrian champions’ teenage striking sensation Erling Braut Haaland was only fit enough for a place on the bench, but they still packed a punch going forward and were rewarded when Hwang Hee-Chan pulled a goal back just before half-time. Takumi Minamino and Haaland, just four minutes after coming on as a substitute, then brought Salzburg level on the hour mark. However, Salah had the final word as the Egyptian smashed home the winner 21 minutes from time. Liverpool were under pressure to make fortress Anfield count after losing 2-0 to Napoli on matchday one. Jurgen Klopp’s men lost all three of their away group games last season, but won all three of their home games to sneak through before going on to win the competition for a sixth time.
– Slick attacking football –
Normal service looked set to be resumed as the holders roared into a 3-0 lead thanks to some slick attacking football. The Reds are well aware of Salzburg’s pedigree of developing fine young players, and it was one of their former alumni that opened the scoring as Mane exchanged passes with Roberto Firmino before slotting into the far corner. Another fine team move made it 2-0 as one full-back, Trent Alexander Arnold, crossed for another in Robertson to convert just his second ever Liverpool goal like a striker. Salah was then on hand to finish from close range after Cican Stankovic could only parry Firmino’s header back into the danger area. Salzburg have now scored 51 goals in their first 12 games this season and were given hope as Liverpool eased off the accelerator towards the end of the first half. Minamino had already fired a warning shot that Adrian turned behind before the visitors’ fightback began in earnest. Hwang left Virgil van Dijk on the floor as the South Korean turned inside and fired into the far corner. Klopp was growing visibly frustrated on the touchline as his side failed to cope with Salzburg’s pressing and incisive passing through midfield and even the German could not find a solution at half-time as Salzburg came out flying. The second Salzburg goal was coming and finally arrived when Minamino volleyed in from Hwang’s cross. Haaland, who scored a hat-trick on his Champions League debut in the 6-2 thrashing of Genk on matchday one, was then introduced and instantly offered an even more direct threat. The Norwegian should have scored when he fired into the side-netting with just Adrian to beat, but moments later the 19-year-old tapped in at the back post after a purposeful break from the impressive Minamino. Anfield was shocked, but not silenced and the home fans helped rouse the Liverpool into a response of champions. Salah was quickest to react to a Firmino knockdown inside the area and smashed past the onrushing Stankovic to restore Liverpool’s lead and secure a vital three points.

Source: Punch

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African champions, Nigeria will go for an outright win against Cote d’Ivoire in their Tokyo 2020 Olympics women’s football tournament, African qualifying second round first leg clash in Abidjan today, according to Acting Head Coach, Chris Danjuma. Danjuma told thenff.com on phone from the Ivoirian capital yesterday that a win is non-negotiable as the Super Falcons want to make the return leg in Nigeria on Monday an easier session for themselves. “We know the Ivoirians are a strong team; we could only beat them on penalties during the WAFU Cup of Nations. However, it is a new day and an altogether new contest on Thursday and we will go for an outright win. “The Super Falcons have the capacity to dominate and score goals that will make the second leg in Lagos a formality.” Today’s encounter will take place at the Stade Parc des Sports de Treichville, as from 3.30 p.m. Ivoirian time (4.30 p.m. Nigeria). The Falcons, who are staying at the Grand Hotel in Abidjan, were expected to have a feel of the match venue during the official training scheduled for 3:30pm Ivoirian time yesterday. World football –governing body, FIFA has appointed Togolese Vincentia Amedome as referee, with her compatriots Kossiwa Kpadenou, Abra Sitsofe Agbedanou and Edoh Kindedji as assistant referee 1, assistant referee 2 and fourth official respectively. Tempa Ndah from Benin Republic will serve as referee assessor, while Fatoumata Guindo from Mali will be match commissioner. Meanwhile, Singaporean Jansen Foo has been appointed as referee for the prestige international friendly match between Nigeria and Brazil taking place in Singapore on October 13, 2019. Foo will be assisted by compatriots Abdul Hannan (assistant referee 1), Ong Chai Lee (assistant referee 2) and G. Letchman (fourth official) at the game billed for the Singapore National Stadium, Kallang starting from 8.00 p.m. Singapore time. It is the first clash between the A teams of both countries since five –time world champions Brazil hit the Super Eagles 3-0 in a friendly game at the National Stadium, Abuja in June 2003.

Source: Punch

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Christian Eriksen has emphatically denied internet reports that Tottenham team-mate, Jan Vertonghen had an affair with his girlfriend, describing them as ‘bulls. Rumours on social media have recently suggested the Belgian defender romanced Eriksen’s girlfriend Sabrina Kvist, which then sparked a huge bust-up in the Spurs dressing room with England captain Harry Kane. However, the day after Spurs’ embarrassing 7-2 Champions League defeat by Bayern Munich, Eriksen took to Twitter to strongly refute claims of an affair that was dividing the dressing room. Replying to a tweet that @CasualMind_ posted regarding the online rumours, Eriksen replied with ‘#bulls***’ and a sleeping face emoji. Vertonghen then replied to Eriksen’s tweet with a series of emojis that seemed to show he agreed with his team-mate. He added a love heart emoji next to Eriksen’s Twitter handle. Eriksen and Kvist have been together since 2012 and their first child, Alfred, was born in 2018. The version of events that was included in the tweet alleged a series of things from the affair with ‘Eriksen’s wife’, even though they are not married, and that Mauricio Pochettino was planning on taking Eriksen and Kane with him to Real Madrid next summer. It read: ‘Jan Vertonghen caught sleeping with Christian Eriksen wife. Harry Kane got involved, big dressing room bust up. ‘Club refusing to offer Vertonghen a new contract. Eriksen was due to join Real Madrid but personal reasons stopped the deal. Half the players not taking (talking) to each other, Eriksen said he’s not in a good place to play football.

Source; Guardian

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Google is to pay French authorities almost €1bn (£900m) to end a long-running investigation into its taxes. The settlement includes a €500m fine and additional taxes of €465m, but it is less than the tax bill authorities had accused Google of evading.
It rounds off a four year investigation that saw authorities raid Google's Paris headquarters in 2016. Investigators said Google owed about €1.6bn in unpaid taxes amid a wider crackdown on tax planning of big firms. French authorities had been seeking to establish whether Google, which has its European headquarters in Dublin, failed to declare some of its activities in the country. The search giant, which is part of Alphabet, pays little tax in most European countries because it reports almost all of its sales in Ireland. It is able to do that thanks to a loophole in international tax law. However, that loophole hinges on staff in Dublin concluding all sales contracts. The agreement allows Google "to settle once for all these past disputes," said Antonin Levy, one of the firm's lawyers. In March, the EU hit Google with a €1.5bn fine for blocking rival online search advertisers and last year the European Commission levelled a record €4.3bn fine against the firm over its Android mobile operating system. In January, France fined Google €50m a breach of the EU's data protection rules.

Source: BBC

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The Head of Gas Ventures, Neconde Energy Limited, Chichi Emenike, in this interview with ’FEMI ASU, says Nigeria needs to encourage more projects to monetise its huge gas reserves and boost domestic supply
What are your thoughts on the Nigerian oil and gas industry?
What we have seen with time is that there has been a renewed focus on local content, and we are beginning to see Nigerian businesses that can do better in the oil and gas industry than the international oil companies that we have known over the years. Here at Neconde, I have been given the mandate to drive the gas business; Neconde has huge gas reserves. Part of the immediate mandate is to develop and completely monetise our associated gas. We’ve also got huge reserves of non-associated gas, which we have to develop.
It is a well-known fact that the country has huge gas reserves. Just last week, Italian oil major, Eni, announced that it had made a significant gas discovery in the Niger Delta. But there is still gas shortage in the domestic market. What is your view on this?
This is something we have always talked about. Most of the gas reserves are still trapped below the ground. We don’t have sufficient gas infrastructure. We have a gas master plan but we haven’t fully optimised it yet. We’ve got an environment that is not clear to investors yet, whether you’re an international or a local investor. We don’t have policies that are completely clear; that is not acceptable. We’ve got a myriad of other issues. These are some of the issues that we are dealing with, and these are some of the things that have held the gas industry down for some years now.
There are a couple of LNG projects that have been stalled. Given the growing competition in the global LNG market, do you think there is still prospect for these projects?
Those are the projects we need to monetise our gas resources. We should have LNG plants like the one in Bonny in other places in the country. The focus really is not just on gas for export; we also have a lot we can do with the gas internally. You have many industries that need to run on gas. We have issues with power. We need to begin to look at the power sector. There are a lot of regulations regarding the power sector that need to be looked at. This is to encourage investors to develop more gas. There are other investment destinations in Africa. For instance, Ghana does not have as much gas reserves as Nigeria but they’ve done a lot of tidying up. Mozambique is talking of an LNG plant today. Cameroun has delivered its first LNG. So what are we saying? It is time we get our act together. We talk a lot. Our gas policy has a leg in the Petroleum Industry Governance Bill as it is. There are other bills too that are also important that are waiting to be passed. Time is ticking. We need to pass the Petroleum Industry Bill.
What role is Neconde playing to ensure adequate supply of gas in the domestic market?
What we are working towards now is to eliminate gas flaring. We’ve already commercialised some of the associated gas and we have buyers. The short-term plan is to maximise our associated gas. We are putting in place more gas infrastructure; we currently have a central processing facility. We’re also looking at the non-associated gas because that is where the main focus is; that is where the big business is.
What is your company’s current gas production and what are your plans for the future?
Neconde is developing Oil Mining Lease 42 currently with its joint venture partners. We have what is called an asset management team. Currently, we’re producing about 40 million standard cubic feet of gas per day. Our plan is to increase our associated gas production to 80 million scf per day, and that requires putting in place more gas infrastructure. We currently have a central processing facility, and that still requires additional infrastructure, probably additional pipelines. We have off-takers who have also indicated interest. They are currently discussing with us. In the long term, we’re looking at the non-associated gas. Neconde is also looking at putting in place Liquefied Petroleum Gas infrastructure. The business plan that we are developing and I’m looking at currently also has consideration for the LPG.
We have a lot of the LPG in Nigeria but unfortunately the per-capital usage is small compared to other countries such as Ghana and Senegal. We shouldn’t have that; you know those figures. For a long time, most of the LPG Nigeria uses comes from the Nigerian NLG in Bonny to Lagos. I know the NLNG is committed to deepening the consumption of the LPG in the country; so, they deployed smaller vessels. There are so many things we are doing with our current operations to ensure that we maximise value for our shareholders and our lenders.

Source: Punch

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Nigeria may face a fiscal crisis following its inability to collect more taxes, a BBC report has said. The report by BBC’s Reality Check Team found that government expenditure “has doubled and debt servicing costs have grown, but revenues have missed their targets by at least 45 percent a year since 2015.” The report noted that despite increase in the number of taxpayers, there had not been a corresponding increase in the country’s tax revenue.
In 2018, for instance, the report noted that about 19 million Nigerians paid into federal or state coffers out of the country’s population currently standing at 201 million. Based on the World Bank records, the report put the country’s economically active population at 65 million, out of which 19 million paid their taxes in 2018 By implication, the report observed that even with rising numbers of taxpayers in recent years, only about 29.23 percent paid their taxes in 2018. The report noted that the federal government “has been going after individuals that it believes are liable for tax and have not been paying. “Two years ago, the country offered a 12-month amnesty for Nigerians to declare and pay taxes on all previously undeclared income and assets to avoid penalty payments and possible prosecution.” In 2018, a World Bank report said this was only partly successful with just 8 percent of the target achieved by the end of the amnesty period. However, the report noted that many Nigerians “will be reluctant to pay taxes because of concerns the money raised may be siphoned off instead of being spent on health, education and other public services.” The report cited statistics from the Organisation for Economic Co-operation and Development (OECD) that highlighted the status of ratios of tax to GDP globally. According to some estimates, Nigeria has one of the world’s lowest ratios of tax to GDP. That is the total amount of tax collected as a proportion of GDP – the value of the country’s goods and services. In 2016, for example, the report revealed that Nigeria’s tax-to-GDP ration was at 6 percent. Other African countries, according to OECD statistics, performed better than Nigeria. The tax-to-GDP ratio in South Africa was 29 percent, Ghana 18 percent, Egypt 15 percent and Kenya 18 percent. However, the report said average for OECD members, which includes all the advanced economies, was 34 percent. The report said the World Bank “uses a slightly different measurement of tax take, which does not include most social security payments. This puts Nigeria’s tax-to-GDP ratio in 2016 lower at just 3.4 percent. “In 2017, the ratio did improve to 4.8 percent, according to figures provided to us by the Nigerian authorities. “We do not have a figure for 2018, but it is worth pointing out that 15 percent is the level necessary to achieve economic growth and poverty reduction. “Many other developing countries have a low tax-to-GDP ratio and recent data indicates that about 60 countries fall below the 15 percent threshold.” An Assistant Director in the International Monetary Fund (IMF), Bernardin Akitoby, suggested useful approach to improve tax collection in the country. Akitoby recommended the need to improve the country’s tax-to-GDP ratio, saying a typical advanced country “has a tax to GDP ratio of around 40 percent.” Akitoby said there “is no one-size-fits-all solution to increase the tax take. But there are a few lessons that can be drawn from countries that have been successful in the past.” He outlined the lessons to include clear political mandate to tackle low levels of tax payment; simpler tax system with a limited number of rates and exemptions; using taxes on goods and services and boosting tax collection by using new technology In its case, the IMF canvassed more comprehensive tax reform in Nigeria, which it believed, could help increase the tax-to-GDP ratio by about eight percentage points.

Source: Daily trust  

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The Oyo State Government on Tuesday said it had concluded plans to collect tax from the informal sector tax with the use of mobile apps and Automated Teller Machine cards.
The government also stated that the annual collection of tax, especially among traders, markets and artisans, would take immediate effect. The Executive Chairman, Oyo State Internal Revenue Service, Mr John Adeleke, stated this during a sensitisation tour and meeting of market leaders from 14 major markets across Ibadan at the Ogunpa Market in the Ibadan North West Local Government Area. Adeleke said the meeting was imperative in view of the need to encourage traders, artisans, shop owners, market men and women to be awake to their civic responsibilities as a way of supporting the government. Represented by the Director of Other Taxes, Mr Idowu Alao, the OYSIRS boss said the government had refused to increase the tax payable by the traders and others operating in the informal sector because of its understanding of the current economic situation in the country.

Source: Punch

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News of the query issued to Mr Tunde Fowler, the FIRS(Federal Inland Revenue Service) boss, has once again put the issue of tax in the country in the spotlight. The importance of taxation to a country’s development cannot be overemphasized, especially as without tax revenues the civil service will be grounded, and we know what that means. It is also from taxes that funding for our defence, education, hospitals, roads and other infrastructure projects is sourced. If this is the case, why is there so much brouhaha about tax issues in Nigeria?
Why are Nigerians not motivated to pay taxes? In line with democratic tenet, the relationship between government and the people is like a contract, with obligations from both sides to fulfil. If there is a violation of the contract terms by any one of the parties, the purpose for which the contract has been entered into will be threatened. Government is to provide security, infrastructure, education, healthcare, housing, roads and other such obligations to the people. The people, on their part, will contribute their resources to keep the government going and this is usually done through the payment of taxes and other such levies that the government deems fit to impose. That is why in developed societies, issues of tax payment are not treated with levity. Why is the Nigerian case different? Ideally, government should make the environment conducive for business to thrive; taxes are not meant to stifle businesses, but to ensure a mutually beneficial growth of all parties. We do not have that type of situation here. According to Head, Tax and Corporate Advisory Services at Pwc Nigeria, Mr Taiwo Oyedele: “The focus should not only be on revenue collection but how the tax system was managed”. He also said: “We need to review our tax laws that are creating problems; we have to reform the tax policies, tax laws so that they will enable businesses to grow, protect the poor and vulnerable people and help Nigeria to develop.” The query to Mr Fowler from the Presidency “noted that there were variances between the budgeted collections and the actual collections made by the agency”. And, in his response, Fowler was quoted as citing “recording increases in CIT(corporate income tax) and VAT(value added tax)”. He went further to state that the non-oil tax collection grew by over N1.31tn. On his own part, Shehu Garba, the Senior Special Assistant to the President on Media and Publicity, said: “It is noteworthy and highly commendable that under this administration, the number of taxable adults has increased from 10 million to 20 million, with concerted efforts still ongoing to bring a lot more into the tax net”. What Messrs Fowler and Shehu did not make public in their individual statements is the number of businesses that have been driven underground or totally eliminated by their over bearing tax policies and drives. If it continues this way, as was done these past few years, more businesses will simply vanish. Businesses are routinely harrassed with extortionist taxes when a conducive environment has not been created for them to thrive. Unemployment rate is increasing, businesses are closing down, foreign investment is nothing to write about, insecurity remains a constant threat, inflation hitting the roof and interest rates unaffordable for businesses. Yet government is breathing down the neck of citizens and the few business operators who are providing jobs for the citizens. How do we go forward in this manner? This is why, despite the efforts of Fowler and his firs team, overall revenue has not improved. It can only increase when businesses are allowed to thrive and people are provided with jobs. You do not hound the few entrepreneurs risking their lives and businesses because you are on tax drives. And that is what the query will do to Fowler and his FIRS team: they will intensify their harassment of the few businesses available with resultant dire consequences. We must be careful with the way we handle these tax drives, especially as it affects our entrepreneurs and genuine employers of labor. They are the ones providing jobs for people. If they are encouraged, more jobs will be created for the people and when people are gainfully employed, they will pay tax. When you harass and hound them, they move their funds and businesses elsewhere and the country suffers in the process. We must be more careful now that there is drop in oil activities in the land. Oil price is down and related businesses are closing shop. Every direction the average businessman faces in Nigeria is clogged with obstacles. So, Nigerians are buying up dollars and other foreign currencies and moving them offshore, afraid to invest as our economic environment is too harsh for business. Some of our West African neighbours are now the beneficiaries of these lapses in our system. It still cannot be imagined why our neighbouring Benin Republic enjoys constant electricity supply when we cannot run ours for six hours in a day.

Source: vanguard

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FIFA has agreed steps that will limit the number of players clubs can send out on loan from next season and will also limit the amount of money paid to agents in commissions, world football’s governing body announced on Wednesday. In a statement, FIFA said it had taken “a series of key steps to protect the integrity of the system and prevent abuses” following a meeting of its Stakeholders Committee. From next season, the number of international loans out and in permitted per club will be limited to eight, with that figure dropping progressively to six by the 2022/23 season. The number of players that can be loaned between the same two clubs will be capped at three. However, the cap will only be applied to players aged over 21, or “non club-trained” players aged 21 and under. The measures are aimed at curtailing “abusive and excessive practices”, with FIFA citing the hoarding of players by clubs and the distortion of competition when teams bring in several players on loan from a bigger club with whom they have a close relationship. “Players’ development is suffering as they are moved from one club to another with no clear career plan. The current loan system has facilitated player hoarding with clubs putting numerous players on their books and then loaning them out to other clubs,” FIFA said in a confidential document seen by AFP. The measures appear to be aimed at clubs such as Chelsea, who have habitually had vast numbers of players out on loan in recent seasons. Monaco have as many as 18 players currently loaned out, including seven at Belgian side Cercle Brugge. The recommendations will be endorsed at the upcoming FIFA Council meeting in Shanghai, scheduled for October 24. However, they will not immediately apply to domestic loans, with the document stating that member associations will have three years in order to implement rules on a loan system “in line with FIFA principles”. Meanwhile, in an effort to curb the amount of money going out of the game and into the pockets of agents, FIFA stakeholders also agreed to limit commissions as “conflicts of interest plague football’s transfer system”. As a result, a selling club will not have to pay more than 10 percent of a transfer fee received to an agent acting on their behalf. Agents representing a player will be entitled to a maximum of three percent of that player’s total remuneration and another three percent for representing the buying club. In 2016, Mino Raiola was paid 27 million euros for his role in Paul Pogba’s transfer from Juventus to Manchester United for a then world-record fee of over 100 million euros. The new measures are designed to limit “financial incentive of agents to engineer a possible transfer” and to create “more transparent and objective forms of remuneration”, the document stated. “Certain measures will certainly not please some agents, but there was a consensus on these measures and there have been discussions going back more than a year,” a FIFA official told journalists at the organisation’s Zurich headquarters. “This is an important step towards making transfers more moral.” The measures will also be endorsed at the FIFA Council in Shanghai.

Source: punch

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Liverpool’s manager Jürgen Klopp after winning The Best FIFA Men’s Coach award at the Best FIFA Football Awards announced that he will be part of the “Common Goal Family”. Common Goal is the growing social movement through which professionals in the football industry are changing the lives of disadvantaged young people all over the world. The manager will pledge 1% of his salary to high-impact organisations that are using football as a tool for social transformation. Klopp, 52, who led Liverpool FC to the UEFA Champions League title last season, emphasized that Liverpool’s Champions League win was achieved on “the back of exceptional team spirit among his staff and players and that it is only by working together that we can accomplish truly meaningful things in football and in life”. “We are thrilled to welcome Jürgen Klopp onto the team,” said Common Goal CEO and Co-Founder Jürgen Griesbeck. “He represents a new generation of leadership in global football that combines success with empathy. At a time when our world is facing social divides, increasing global inequality and political polarisation, his contribution exceeds the financial and will inspire football fans and non-football fans across the planet.” Klopp said: “We are all in the very good side of life, that’s why we are here legends. The past was great, the present is really good and the future hopefully will be good for us as well. But there are people out there that are not exactly in the same situation. I am really proud and happy to announce that from today on I am member of the Common Goal family.” Two other Premier League managers, Pep Guardiola of Manchester City, and Tottenham Hotspur’s Mauricio Pochettino, were also shortlisted for The Best FIFA Men’s Coach award. Megan Rapinoe, one of the first female players to join the Common Goal movement in September 2017, won The Best FIFA Women’s Player award. Her fellow Common Goal teammate and World Champion with the US, Alex Morgan, was shortlisted for the award, along with England star Lucy Bronze. RB Leipzig Head Coach, Julian Nagelsmann, 32, who became the first manager to join Common Goal in October 2017, responded to the news: “This is a great moment in the development of Common Goal. Jürgen Klopp, with his incredible achievements in the Bundesliga and the Premier League, as well as the way fans beyond his own club hold him in such high esteem, will have a tremendous impact on raising awareness of the movement and inspiring other football managers and top level players to follow suit.” Klopp added: “Since Common Goal started two years ago, the movement has grown steadily proving it is a simple, effective and safe mechanism for players and managers to give back through football. As a team, even with a minimum pledge of just 1%, together the football industry is capable of transforming the world. Now is the time for those interested to take a step forward.” Klopp joins the Common Goal movement as 7th head coach, following Julian Nagelsmann (RB Leipzig), Casey Stoney (Manchester United Women), Flemming Pedersen (FC Nordsjælland), María Pry (Levante UD Women), Jens Bauer (1.FC Heidenheim U19) and incoming Danish national team head coach Kasper Hjulmand.

Source: Guardian

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Kelechi Iheanacho was seen as the next big thing in football when his goals led Nigeria to a fourth FIFA U-17 World Cup triumph. His profile was enhanced tremendously when he joined Manchester City after the U-17 tournament in the Middle East. Playing mostly as a substitute, Iheanacho created a record as the best striker in the world per minute owing to his prolific displays for the Cityzens. And so, when he joined Leicester City in a bid to gain more regular playing time, pundits saw in his expected combination with Jamie Vardy a deadly combo. But things have not worked out for Iheanacho. After many games without goals, he started seeing less game time in the club. Even when analysts thought Brendan Rodgers’ arrival was the fillip he needed to return to full flight, the reverse has been the case. Iheanacho did not make the matchday squad in Leicester City’s last three league matches, prompting many to question his future at the 2016 champions. But things may be beginning to change for the lad, who was adjudged one of the most valuable youth players in world football in 2013. On Tuesday, Iheanacho made a rare appearance in Leicester City’s colours when he played for just 20 minutes in the 4-0 demolition of Luton Town in the Carabao Cup. Yes, 20 minutes, but it was a time well utilized. Brendan Rodgers prefers new signing, Ayoze Perez as Vardy’s strike partner, but since the former Newcastle United frontman joined Leicester City, he has not been as prolific as he was with the Geordies. James Maddison, who plays behind the strikers, has been more effective than the Spaniard, but he also been short on goals return. On Tuesday, Rodgers gave Demarai Gray and Marc Albrighton starting berths. Perez was given the opportunity to lead the line on his own. Analysing the game, Jordan Blackwell wrote in the Leicester Mercury: “While the individual performances will have delighted Rodgers, the cohesion and fluidity of the display will probably be the biggest positive he takes. It proved that the ideas he is implementing in training are being taken on board by all of the players, and not just those that feature regularly. “Maddison’s sore ankle means he is a doubt for this weekend’s Premier League match with Newcastle. “For the first time this season, there was no Jamie Vardy in the City line-up. The talisman played 90 minutes in every match up to Luton but was given a rest at Kenilworth Road. In his place, Ayoze Perez-led the line for 70 minutes, while Iheanacho played the final 20. “Perez took half-an-hour to grow into the game but provided a decent focal point for the forward-thinking midfielders behind him. He flicked Albrighton’s corner into Gray’s path to set up the opener and could have had a goal himself, a chip ruled out for offside just before half-time. “But while his interplay was decent, he was perhaps lacking as a goal threat. Iheanacho played totally differently. The Nigerian, making his first appearance of the season, pressed the game really well and, perhaps benefitting from Luton’s tiredness, broke in behind on three occasions. “The first time, he stumbled but helped set up Tielemans’ goal. Secondly, he saw an effort saved. Then he finally grabbed the goal that ended his 366-day drought, lobbing Luton’s James Shea. “On those showings, Iheanacho is more suited to deputising for Vardy should the number nine ever be unavailable.” On the strength of Tuesday’s performance, optimists could rightly say that the waiting period could be over soon for Iheanacho. It is up to him to seize the opportunity.

Source: Guardian

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The Technical Committee of the National Tax Policy Implementation Committee will present a Finance Bill and Policy Note to Nigeria’s Minister of Finance and Budget Planning as the committee ends its work soon. At the second sitting of the committee in Abuja, the Deputy Chairman of the technical committee, Dr. Bode Oyetunde said that the sub-committee would finish its work in the next 10 to 15 days.
“This is the second committee meeting we are having and we hope to bring this meeting to a close in the next 10 to 15 days.“The general committee is headed by the Executive Chairman of FIRS, Tunde Fowler and the Comptroller-General of Custom, Hamid Ali is the Deputy Chairman. “Ambassador Adeolu Dipeolu, who is also the Special Adviser to President Muhammadu Buhari on Economic Matters in Vice President’s Office is the Chairman of the Technical-Sub-Committee. “We are working to put up a finance bill and policy note to the Minister of Finance, that would raise revenue and reduce the cost of doing business in Nigeria, deal with some areas of tax inequity, deal with some areas in international taxation like profit shifting and base erosion”, Oyetunde said. At their inauguration, Fowler charged the technical committee to work harmoniously to achieve a desired result: “I charge the Chairman and members of the Technical Committee with the responsibility of accelerating the drafting and submission of a draft Finance Bill and if deemed necessary, any draft Executive Order(s), to harmonize the various tax and excise law reform efforts. “It is our expectation that the Technical Committee will work assiduously over the next few weeks to produce a singular set of fiscal measures that will be considered and approved by the reconstituted NTPIC. “Once agreed, these fiscal measures are to be submitted to the Economic Management Team and the Federal Executive Council for approval and ultimate transmission to the National Assembly, for passage into law as part of the efforts to support the 2020 Executive Budget Proposal.” Other members of the NTPIC include: Comptroller-General, Nigeria Customs Service (Deputy Chairman); the Permanent Secretary (Finance) from Federal Ministry of Finance; Permanent Secretary (Special Duties); Permanent Secretary and Solicitor-General of the Federation, Federal Ministry of Justice; the Director-General of the Budget Office of the Federation; the Director-General of the Debt Management Office; the Director-General of the Securities and Exchange Commission; the Statistician-General of the National Bureau of Statistics; the Executive Secretary of Nigeria Investment Promotion Council; the Executive Secretary of the JTB; the Deputy Comptroller-General of Customs and the Director (Legal) Federal Ministry of Finance.

Source; VON

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The spate of tax evasion by taxable individuals and corporate entities has continued to draw concern from stakeholders who call for a halt to support governments’ programmes in the economic sector. Making their stands known in the matter, Nigeria Governors’ Forum (NGF) and Nigeria Economic Summit Group (NESG) regretted that only 20 million out of nearly 200 million people pay taxes throughout the federation.
This indicates that about 81percent of taxable adults and businesses in Nigeria evade taxation. According to them, this illegal act is traceable to low tax moral in the country. NESG Director of Research and Fiscal Policy Roundtable, Tayo Oyedele, disclosed this during a presentation at NGF Secretariat in Abuja, yesterday, after a courtesy call on Director-General of NGF, Asishana Okauru. According to Oyedele, lack of stiff penalties for non-payment of taxes in Nigeria was not only abetting tax evasion, but acts as disincentive to those who pay at all. “Many believe that it is unwise to pay taxes to entities that do not translate taxes to services or to officials who diverted same to personal use,” Oyedele stated. To track this trend, he disclosed that there were 354 taxes in Nigeria, but recommended their reduction to only 10 if duplicity of taxes and favouritism on where to audit and where not to audit will end. Oyedele did not also spare unprofessional conducts of some tax collectors, which he attributes to low tax returns.

Source: National light

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Kano Pillars’ Head Coach, Ibrahim Musa says he is dismayed by Coach Imama Amapakabo’s description of Nigeria-based players and coaches as not teachable. He challenged the national U-23 team coach to organise a course on basics of football, with emphasis on tactics and formation. Amapakabo, who currently handles both the U-23 and the CHAN Eagles, in a recent report published by footballlive.ng, said home-based players find it difficult to interpret tactics and formation. He also accused local coaches of lacking tactics and formation, saying they cannot give what they don’t know. Speaking to The Guardian yesterday, Musa said Amapakabo had the right to his opinion, adding, however, that the former Enugu Rangers coach also fell in the category of Nigerian coaches. “Is Amapakabo not a coach in Nigeria? Well, he is only expressing his opinion. Some players were invited to the CHAN Eagles and no player from the Kano Pillars made it to the team. And this is a club that came second in the league last season and even won the FA Cup. “Indicting the local coaches publicly is not a good thing, especially when the coach is also based in Nigeria. This is more so when others are blaming us for the current state of the national teams.” He said Amapakabo should have been more discreet in his criticism if he noticed things wrong with the system. “If there were lapses he has noticed about the home-based players and coaches, he is supposed to advice us since he wants to correct them. Now because he lost 1-4 to Togo, he has suddenly remembered that Nigerian coaches and players lack tactics and formation,” he said. Musa, who is in Ijebu Ode, Ogun State for a pre-season tournament with his team, added that Amapakabo should complete his work against Togo and put up a course for the players and coaches on what he thinks we lack as a way forward. “It is good to hear that he knows what we don’t know. So, he should come and impact in us what tactics and formation are, as soon as he finishes the job of qualifying for the CHAN tournament. “As a way forward for the players based in Nigeria to be part of the Super Eagles, I think whoever that is given responsibility to handle the national team should start looking inwards by going round the country and seeing the players for himself rather than depending on agents,” he stated.

Source: Guardian

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Tottenham’s disappointing start to the season hit a new low as they suffered an embarrassing League Cup third-round defeat on penalties at fourth-tier Colchester on Tuesday. Mauricio Pochettino’s side were held to a 0-0 draw in normal time before losing 4-3 on penalties against opponents currently 10th in League Two. Christian Eriksen’s opening spot-kick was saved and Lucas Moura hit the crossbar before Tom Lapslie scored the winning penalty to spark a pitch invasion from Colchester’s jubilant fans. It was the first time Tottenham manager Pochettino had been knocked out of a domestic cup competition against lower-league opposition. The shock defeat extended Tottenham’s poor run, which included a 2-1 loss at Leicester in the Premier League on Saturday. After finishing as Champions League runners-up last season, Tottenham were expected to kick on this season but instead they have struggled to find any consistency. Pochettino has grumbled about the distractions of the transfer window, with Eriksen and several other players linked with moves that never materialised. As a result, Tottenham have looked a disjointed team, with two-goal leads squandered in draws at Arsenal and Olympiakos. A surprise home defeat against lowly Newcastle was another blow and Tottenham are languishing in seventh place in the Premier League at present. The upset was the biggest setback so far for Pochettino, who made 10 changes to his side but could still call on enough quality players to expect a win against a team 71 places below them in the football pyramid. There were debuts for 17-year-old Troy Parrott and 20-year-old Japhet Tanganga, while Eric Dier made his first appearance of the season alongside Dele Alli in midfield. But Tottenham laboured badly and could not find the breakthrough as Colchester followed up their second round win against Crystal Palace with an even bigger scalp on a memorable night that ranked alongside the club’s famous FA Cup success against Leeds in 1971. With Pochettino yet to win his first trophy as Tottenham boss and the club without silverware since the 2008 League Cup, this was another blow to their flagging morale.

Source: guardian

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The Federal Inland Revenue Service (FIRS) is empowered to assess and collect established tax liabilities from entities. The tax laws also empowered the tax authority to charge and collected administrative penalties such late returns penalty, penalty late payment, etc. Tax Authorities do not have powers to impose taxes, only a court of law can impose taxes, fines or charges upon conviction.
Where there is an established tax liability against an entity or the tax liability assessed against an entity has become final and conclusive, but the entity failed to defray the tax liability, the Tax Authority can appoint any person or institution (e.g. banks) as an agent to collect the unpaid tax on its behalf from the entity. Also, an established tax liability (Companies Income Tax (CIT), Tertiary Education Tax (TET), Capital Gains Tax (CGT), Value Added Tax (VAT) and Withholding Tax (WHT)), of an entity can be recovered from:
the entity – e.g. XYZ LTD.
the any principal officer of the entity – e.g. Managing Director, CEO, etc.
the any person appointed by the entity as attorney, factor, agent or a representative.
a receiver or liquidator.
While entities are to comply with the provisions of the tax laws in terms of filing and payment of taxes, it is important to state that, no Tax Authority has powers or right to place lien on the bank account of an entity where a tax liability is yet to be established or when a tax liability is in dispute.

Source: Punch

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General private nurses in Nasarawa State have complained of harassment and multiple taxation hampering the work of nursing and maternity homes. Chairman of the Association of General Private Nursing Practitioners (AGPNP) in Nasarawa, Angbas Stephen, listed the issues in its run-in with state officials at a meeting of the association’s national executive council in Karu.
He said one of their challenges is: “The harassment by the inspectorate unit preventing the use of ultra sound as a diagnostic instrument in our facilities.” Nasarawa regulation requires signage indicating facilities where surgeries can legally be carried out. “The placement of plaques on the frontage of nursing and maternity homes bearing the inscription ‘No surgery here/Babu fida a nan’ is derogatory to the image of the nursing practice,” said Stephen. He said the nursing homes were suffering multiple taxation from local government officials at the same time the state ministry of health had hiked fees for licence renewal, charging the same as for hospitals. “There are no differences in the renewal feeds from the hospital and lower cadre of the health establishment in the state. Whether a hospital or clinic, it pays flat rate annually apart from other taxations in the state,” said Stephen. The association also complained about barriers to upgrade, saying presently nursing-and-maternity homes were unable to be “upgraded to hospital status, if they have the ability to do so.” Despite the issues, Stephen said the association’s relationship with “our parent ministry is cordial.”

Source: daily trust

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