₦airaland Forum

unbranded13:
Who else is coming for M.sc Finance or Accounting, let's study together....

Hello, I am interested, lets connect

In terms of the commercial value. Please find below the value of oil recovered in Naira

800,000 litres of Oil is equivalent to 5,031 barrels and the international price per barrel is about $78

Total amount in USD is 5,031 x 78 = $392 428

Naira equivalent at 760 = N298,245,280

I am open to correction if my above analysis is wrong please..

May God help the nation

Good afternoon my people

I am currently in need of CISA study group or mates with like minds

The objective is for us to study for the exam together victually , solve questions and write the exam sometimes in q2 2024

Note that i have all necessary materials and guidelines

Please contact me via kaz4sure2015@gmail.com should in case you share the same goal or dream to join

Thank you

Great Gazzuzz

Noticed check engine light on my Acura MDX and the error code after scanning is P0159

Please advise on possible solution to clear this code

Expat in the house, please I noticed recently that my car AC is permanently on cold, it dosent switch to hot even if I set the function to hot, it is always on cold.

I am using lexus rx 300, please advise

and one MARWA or danfo or okada rider will now dent this car in lagos traffic

is london the capital of Nigeria now?

it is 50,000 usd oooo, that is about 25 million naira..........for just about 52km run?


Training mode activated

No risk involved, treasury bill has ZERO percent risk factor. It is one of the safest investment in the world

Dear all,

Treasury bill is far better than fixed deposit, you can fix an amount for 91days, 180days or 365days at an annual rate of 15% to 17%.

The minimum amount required for treasury bill is 100k

Pls what is the cost of renewing vehicle papers excluding insurance. The vehicle is lexus rx300

You have nothing to fear so far you can defend the source of the fund.

Another questions that keep bothering my mind is that why should VAT be collected at the federal levy?

Each state can collect their VAT and use it to develop their states rather than this monthly federal allocations of VAT where some lazy governors share from what they have not even contributor for.

Increasing the VAT rate is a very wrong step and infact it will worsen the situation.

There are so many companies in Nigeria that are not paying VAT, as per the recent statistics of FIRs that more than 70percent of companies registered with CAC are not paying monthly VAT.

Methink that what government should do is to locate those hidden companies and bring them into the tax net rather than increasing the burden of those companies that are complying.

@tadeus, pls inbox me the total cost of lexus Rx 300 tokunbo from cotonue to lagos.

Pls send to kaz4sure@yahoo.com

Good day, pls what is the cost of lexus RX 300 tokunbo including the custom and other related charges

Thank God my lovely Channels TV is not among them

The question we should ask the government is what have they been doing with the fund in the excess crude oil account?

This OP brain is definitely malfunctioning.

Please remove accounting from your list then I will consider if your brain is now back to normal or not.

Well, to solve the problem of IFRS, I will be organizing a free trainin of IFRS most especially for dos writing PE1 FA , d training will come up during easter break in Lagos, more info will be announced later......

Fixed: Hi Jarus, A friend has an issue at hand as we speak. Your urgent advice will be appreciated.

My friend is into frozen foods business of which year 2012 turnover is about Eight Million naira. Though the business is registered as an enterprise (not a company), he uses his personal account for business transactions as he is yet to open an accountfor the business. Actually, the business name registration was done not too long ago.

Three weeks ago, he received a letter from FIRS to pay the sum of N75 Million being the accumulated tax covering a period that the business had not even been thought of. Mind you the letter was addressed to the actual business name which had just been registered. Now the man in charge of the tax office that sent the letter had persistently called my friend to come and 'settle the matter' with the sum of N60,000 like others did and there was no receipt issued whatsoever for the payment.

My Questions:
1. How is tax calculated for businesses that are registered as an enterprise? Please bear in mind that the books of account are largely informal where they exist at all. They had actually requested in the letter that statements of accounts and other records be brought for correct calculation of tax arrears
2. Are sales of fish and other frozen food items taxable? Don't they come nder basic food items or Agric items which are exempted according to your earlier post?

3. Is it wise to report this station manager to his superior for fraudulent conversion of remittances in the name of 'settlement'?
4. Generally, how doyou think the issue should be approached?

My friend had just received another letter stating that his business will be shutdown and the process of winding down would commence if a response is not received in 7 days!

Thanks bro.

I'm 90percent sure that the letter is not from FIRS, it is from dos fruadulent people in FIRS that want to milk the coy, what is the correlation between 75m and 600k, men!! Let's wake up cos dis is a clear case of fraud and forgery of letter... please kindly forward a scanned copy of the letter and phone contact of the staff involved to kaz4sure@yahoo.com for further action, we need to clean up this country

Let me now address the issue as a tax consultant, FIRS dosent ve any write to impose CIT(coy income tax) on enterprise or biz name, they are classfiy as unincorporated entites, CIT is applicable to PLC and LTD, but VAT is applicable to all.....the fish business in this case is no more a basic food item because it has been further processed and value has been added to it, my advice for the coy is to prove the actual turnover for the year and submit the same to fIRS who will charge VAT @5percent on the turnover and the same coy is also encourage to remit PAYE and other state levy to the state internal revenue service..

adubam: Intermediate

Ican sylabus not yet change from it look but it has changed examwise, most ican questions now contain IFRS, u won't really be affected at intermediate level but you will need the knowledge of ifrs more in pe 1 when preparing for FA1 exam, contact me at kaz4sure@yahoo.com for more details on IFRS training or if the moderetor can assist us in creating a special page for only ifrs training...I can facilitate it

Nice one my people, let me join other gurus in the house like jarus and other to atttend to tax questions from nairalanders, please start sending your questions on tax and you will get your urgent feedback asap.....kazeem ACA, ACTI, ifrs expert

Pidivine: Ok

Sorry for the initial mistakes, my corrected number is 08126240553

I have all ICAN study packs except BCRM which is not available in softcopy, I have odas on my laptop but unforrtunately, d file can't be sent via yahoo or gmail due to its size, if u are within ojota in Lagos, come with reliable flaash drive to copy the packs free of charrge, contact me on 081262405553 or twitter @kayzeebaba01

If you need any guiidiance or assistance on pe2 advancee taxation, pe1 group accounnt, kindly hook me up on twitter @kayzeebaba01 or you drop ur comment here

luvola: So sad i didnt write the last p.e 1 nov diet. Am a graduate of accounting and if am to write the next diet these are the books i will use and recommend - for F.A , f.a.m.s volume 1 and 2 shud b use to cover miscelleneous et special ventures a/c,published financial statement area of the syllabus. For group a/c the study pack + financial a/c by akeju volume 2 and/or advanced f.a by innocent okwunosa also may be use.. For i.a.s/ifrs/sas aspect of the syllabus , i have an hard copy of a detailed ias/ifrs which i bought at unilag bookshop at d rate of #1500 (about 220pages). The study pack should be used for the remaining aspect of d sylabus. In summary .u cant use just a text book for f.a exams. I recommend d following - f.a volume 1 and 2 #3000 each by akeju,adv f.a by innocent, f.a.m.s 1 and 2 by r.o.i, adv f.a by aborede.. + d i.c.a.n study pack. Other text - accounting for special ventures by dare adekunle .

bross, all the books you mentioned above are very ook except ABORODE, pls that book na beans>>> dont toch it

Catalunya 4, Nigeria 0.......goals scorred by Tello, Xavi, pique and Bojan.......I dreamt of the match dis morning