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FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. (33700 Views)

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Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by MondayOsunbor(m): 10:45am On Sep 18, 2020
Enudapan:
Nna eh! No qualms
This is so unsophisticated


personal i will close all my accounts and start keeping my money in the safe in my house

and go and buy better gun ! any robber have to go through me !

FUCEK UNA INCOME TAX

1 Like 1 Share

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by oloriooko(m): 10:46am On Sep 18, 2020
So one eediot just sat down, read (without understanding) FIRS publication and tweeted the shi.t his shitty mind interpreted and put the whole country in panic mode because him dey inside Presidency SHM
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by GreyLaw(m): 10:46am On Sep 18, 2020
Nonsensical stuff. So if I have money in foreign bank accounts I should come and tell you so you can tax me, right? No sir! I don't give money to criminals.

The tax I am paying here in Nigeria is enough.

2 Likes

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by softset: 10:47am On Sep 18, 2020
Better opportunities in Nigeria when you have the CAPITAL. It's also fun.

If you have money, Nigeria is the place to be especially if you are not lured back by evil or unfriendly friends.

You must have a plan, a solid one.




Hammer2019:


Why exactly did you come back undecided

2 Likes

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by RuddyFusion(m): 10:48am On Sep 18, 2020
softset:
I am thinking these government officials are usually drunk and possibly high on some shit in the evenings, why would the social media handle of the government say A in the morning while another agency says B in the evening.


Dont they have a chain of command that reviews all that goes out to the public?

My advise for those that have the opportunity to leave this country...please move fast. I did that over 20 years ago and have no single regret. Get another passport as option B. If only for the sake of your children.

Although I am back, but in a MUCH better situation.

Show us the way nwanne
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by naptu2: 10:48am On Sep 18, 2020
Zico5:
(This is to enable governments to collect tax from their citizens that are based abroad). I don't really understand what's going on in this country. They are running out of idea thereby putting immense pressure on people based abroad. These people are paying tax in their respective country and is it a sin to save money in ur own country. This is a bad precedence on the part of the government calling themselves progressive. For how long will the masses continue to bear the burden of this government. No direction, no way forward. Everything is just upsidedown.


Jaqenhghar:

Honestly they are giving people reasons to renounce their citizenship. My uncle reiunced his own tey tey. He obtains a visa whenever he wants to come. He said he has no business that will keep him for more than a month in naija

It's actually not the Nigerian Government's idea.

In 2014 the 20 richest countries in the world asked the OECD to develop a standard with which countries can automatically exchange financial information about their citizens for tax purposes. Remember that US citizens and residents are obliged to pay tax to the US Government no matter where they live.

This system that is being implemented will allow the US Government to get financial information about US citizens in Nigeria and also allow FIRS to get financial information about Nigerian citizens in the US.

It is a mutual exchange of information between OECD member countries.
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by oz4real83(m): 10:49am On Sep 18, 2020
softset:
I am thinking these government officials are usually drunk and possibly high on some shit in the evenings, why would the social media handle of the government say A in the morning while another agency says B in the evening.


Dont they have a chain of command that reviews all that goes out to the public?

My advise for those that have the opportunity to leave this country...please move fast. I did that over 20 years ago and have no single regret. Get another passport as option B. If only for the sake of your children.

Although I am back, but in a MUCH better situation.
even the govt's social media handles are operated by incompetent people. When the head is bad, the whole body will also be bad. Don't expect anything less.
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Nobody: 10:49am On Sep 18, 2020
Confused government. Even your confusion is now confused.
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by dadebayo1(m): 10:51am On Sep 18, 2020
So how will someone based abroad obtain the forms in the bank Confusion jam confusion
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Ahmeduana(m): 10:52am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry
NTOORR!
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by samtee37(m): 10:53am On Sep 18, 2020
godwin1189:

My friend read the news from the beginning to the end. Don't read only headline!
Try and read in between my words well Oga.....
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by gonkin(m): 10:53am On Sep 18, 2020
They deleted it and changed statement. Fear catch them.
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Hammer2019: 10:53am On Sep 18, 2020
softset:
Better opportunities in Nigeria when you have the CAPITAL. It's also fun.

If you have money, Nigeria is the place to be especially if you are not lured back by evil or unfriendly friends.

You must have a plan, a solid one.




Knowing all these, you should be a little conservative when advising people to "run".
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Xanderlex: 10:53am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry
Similar situation though i never voted. Them just rub shit for people face
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by gudugudumeje: 10:54am On Sep 18, 2020
@Softset: That is Fulani/Hausa/Kanuri madness for you. And that is breaking Nigeria to parts.".O ye Israel....
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by CodeTemplar: 10:55am On Sep 18, 2020
naptu2:
This does not apply to all bank account holders in Nigeria. (This is to enable governments to collect tax from their citizens that are based abroad). The banks are expected to know the customers that this directive applies to (due to the Know Your Customer [KYC] programme) and to inform them of the directive.






The underlined is so daft an idea. How can you tax people for being citizens or earning into foreign accounts? If I make money in UK and in the process of making the money, used UK's public infrastructures like power, transport, and loans, common sense dictates that I pay my tax there and not to some imaginary motherland that has been hijacked and is unsupportive of business.

3 Likes

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by pafo(m): 10:59am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, [/b]I was under strong illusion that in 2 years he will have transformed Nigeria....... >[b](

But he has.
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by iwaeda: 10:59am On Sep 18, 2020
naptu2:
See previous thread here.

FG Asks All Account Holders In Financial Institutions To Re-Register Despite BVN
https://www.nairaland.com/6126530/fg-asks-all-account-holders

The Federal Inland Revenue Service has clarified the directive on self certification by bank account holders.

The Federal Government Twitter account had erroneously tweeted that all bank account holders in Nigeria were to obtain the self certification forms from their bank. The tweet has now been deleted.

In 2014 the Organisation for Economic Cooperation and Development (OECD) had developed a common reporting standard (CRS) with which members could exchange information about people that have bank accounts and other financial dealings in multiple countries. Read more about the CRS here.
https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/

In compliance with that protocol, people who have bank accounts in other countries and foreigners who have bank accounts in Nigeria are required to obtain, fill and submit the self certification forms. This does not apply to all bank account holders in Nigeria. (This is to enable governments to collect tax from their citizens that are based abroad). The banks are expected to know the customers that this directive applies to (due to the Know Your Customer [KYC] programme) and to inform them of the directive.

Here is the FIRS statement.

FIRS Nigeria @firsNigeria



https://mobile.twitter.com/firsNigeria/status/1306754572166279171

They copied something from 2014 and they can not edit properly!
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by GreaterFuture1(m): 11:01am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry
Unfortunately You have still not changed. That ability to be calm, Patient and logical is still very low in you. You only Admit this one of Buhari because he is a Collosal Failure.

1 Like

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by ogbonnachrys: 11:01am On Sep 18, 2020
Buhari FG and error na 5 & 6.
We are watching sha
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Jaqenhghar: 11:05am On Sep 18, 2020
naptu2:





It's actually not the Nigerian Government's idea.

In 2014 the 20 richest countries in the world asked the OECD to develop a standard with which countries can automatically exchange financial information about their citizens for tax purposes. Remember that US citizens and residents are obliged to pay tax to the US Government no matter where they live.

This system that is being implemented will allow the US Government to get financial information about US citizens in Nigeria and also allow FIRS to get financial information about Nigerian citizens in the US.

It is a mutual exchange of information between OECD member countries.
Fair enough. Thanks for the heads up but I cant imagine why I would want to pay taxes to such an incompetent government at this time. What is the motivation? For me it will make a lot of sense to simply renounce my citizenship than pay a dime to further their cause

4 Likes 1 Share

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Regex: 11:05am On Sep 18, 2020
Jwonder:


Don’t say such, that kind of mentality is bad, the masses are the ones to suffer the consequences of government’s bad policies, when they try to enforce such policies SPEAK OUT, Else your silence is encouraging then to continue with such bad policies.

No be the same masses put them for that sit abi na St. Marks?
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by ITbomb(m): 11:06am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by Jaqenhghar: 11:06am On Sep 18, 2020
pafo:


But he has.
grin grin grin indeed he has
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by naptu2: 11:06am On Sep 18, 2020
CodeTemplar:






The underlined is so daft an idea. How can you tax people for being citizens or earning into foreign accounts? If I make money in UK and in the process of making the money, used UK's public infrastructures, common sense dictates that I pay my tax there and to some imaginary motherland that has been hijacked and is unsupportive of business.




That idea is from the US Government. They tax US citizens and residents, no matter where they are. The British prime minister, Boris Johnson, had to renounce his US citizenship because the tax burden was too great.

The US Government has gone after Swiss Banks and other tax havens, because they want to know the identities of Americans that have funds in such places so that they can tax them.

Nigerian banks have already been complying with this directive with regard to US citizens. I have received several messages from my bank to inform/remind me that I need to register if I'm a US citizen and that they are obliged to inform the US Government about my account.

It was the 20 richest countries in the world that approached the OECD to develop this reporting standard.

1 Like

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by naptu2: 11:08am On Sep 18, 2020
Jaqenhghar:

Fair enough. Thanks for the heads up but I cant imagine why I would want to pay taxes to such an incompetent government at this time. What is the motivation? For me it will make a lot of sense to simply renounce my citizenship than pay a dime to further their cause

That's what Boris Johnson did with his US citizenship. He renounced his US citizenship because the tax burden was too great.

2 Likes

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by obembet(f): 11:09am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry

Nt only u
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by enemyofprogress: 11:13am On Sep 18, 2020
Make we sell this country make everybody go rest jare. Good morning dominique!
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by rontolo(m): 11:13am On Sep 18, 2020
”(This is to enable governments to collect tax from their citizens that are based abroad).”

I LOL at the bolded. Bunch of id1o.ts. Let them come and tax me nau! Will sooner close my Nigeria accounts than pay a dime in tax to these corrupt, incompetent lot. If they want my tax, they should start with the following:

1. Cut cost of governance, reduce the number or planes in Buhari’s fleet
2. Reduce wastage in and around Asso Rock on food, phantom maintenance
3. Reduce annoying waste in the legislature
4. Combat corruption genuinely and transparently

Until then, they can get lost!
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by MeinKampf: 11:13am On Sep 18, 2020
naptu2:





It's actually not the Nigerian Government's idea.

In 2014 the 20 richest countries in the world asked the OECD to develop a standard with which countries can automatically exchange financial information about their citizens for tax purposes. Remember that US citizens and residents are obliged to pay tax to the US Government no matter where they live.

This system that is being implemented will allow the US Government to get financial information about US citizens in Nigeria and also allow FIRS to get financial information about Nigerian citizens in the US.

It is a mutual exchange of information between OECD member countries.
Are you guys not tired of always trying to defend this useless leaders that care no bit for the citizens of this country? You guys are always quick to justify every selfish policies with intent to generate more money to maintain the outrageous lifestyle our leaders are living while you live out all the good policies the countries you derive your justifications from are implementing in their various countries. Remind me what UNESCO standard on Education and Health are and when is this government domesticating same here? For this government, it's always copy every policy from international organizations that will help them milk and tax their citizens without copying those benefits that the citizens of other countries are enjoying

3 Likes

Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by walozanga(m): 11:14am On Sep 18, 2020
soberdrunk:
See confusion everywhere, to think I made enemies supporting this government only for them to reward me with incompetence and shameful acts every other day breaks my heart everyday....... angry I nor just know wetin make me fall in love and believe Buhari die that year, I was defending him as if they were paying me for PR, I was under strong illusion that in 2 years he will have transformed Nigeria....... angry

LOL.. U need to apologise to ur children even the unborn
Re: FIRS Clarifies Directive On Self Certification Forms For Bank Account Holders. by CodeTemplar: 11:17am On Sep 18, 2020
naptu2:


That idea is from the US Government. They tax US citizens and residents, no matter where they are. The British prime minister, Boris Johnson, had to renounce his US citizenship because the tax burden was too great.

The US Government has gone after Swiss Banks and other tax havens, because they want to know the identities of Americans that have funds in such places so that they can tax them.

Nigerian banks have already been complying with this directive with regard to US citizens. I have received several messages from my bank to inform/remind me that I need to register if I'm a US citizen and that they are obliged to inform the US Government about my account.

It was the 20 richest countries in the world that approached the OECD to develop this reporting standard.
If that's the case then common sense should have told them that there should be some kind of threshold to make it sane. They can ask for accounts holding money beyond certain amounts or people with combined funds beyond certain amount.

By the way, I expect such move to be targeting the monies made within countries of origin alone?

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