Ab Abdillah👩‍💻 - ACA

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Ab Abdillah👩‍💻 - ACA

Ab Abdillah👩‍💻 - ACA

@Hishaqq08

💼Chartered Accountant || Striving Tālib👳 || Tax || Audit || AAT || Prospect FCA👩‍💻 #IslamOverCulture#Tax Consultant

Lagos, Nigeria Katılım Ağustos 2018
1.5K Takip Edilen990 Takipçiler
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Ab Abdillah👩‍💻 - ACA
CLARIFICATION ON SEIZURE OF PROPERTY OR AUTOMATIC BANK ACOUNT DEDUCTION WITHOUT A COURT ORDER Having read the “headline”, I knew something was wrong because it is quite unusual for Taiwo to respond or issue a clarification memo in such a manner, despite the sustained pressure he had faced while delivering his national assignment. After I read the whole post, I knew my instinct was right and the issue was more of tit-for-tat. At the juncture, it’s very important for @GazetteNGR and other media platforms to tread carefully. This is not a good time to use media to clickbait or sensationalism, rather all media should be educating the public about the tax reform rather than politicizing it. Criticism where necessary should be done constructively and not the usual gbas gbos between political interest. Clarifications should be sought where necessary and avoid pushing negative narratives. A reporter had reached out to me before for clarification on the tax reform and I shared my insights, just as several other professional colleagues did. This is the best way to go. Educating and criticizing where necessary. That being said, Taiwo was only explaining the concept of “power of substitution and distrain” of the tax authority and at the same time clarifying the misconception surrounding the automatic deduction of a defaulting taxpayer’s funds without a court order. This process is not a new one just a little modification. See section 60-61 of the NTAA and section 31-33 of the FIRSEA to understand the concept 👇 In fact, the existing law does not require a court order before invoking the power of substitution. Let me also clarify that in practice, before a tax authority can seize your assets or instruct an agent (such as a bank) to deduct funds for tax recovery, the tax liability must be “FINAL AND CONCLUSIVE.” Several procedural steps must be completed: 1. Nigeria operates a self-assessment system. Taxpayers are required to file returns, and where the tax authority believes the assessment is understated or incorrect, a Notice of Assessment/Demand Notice is issued. This stage involves series of responses, reconciliation meetings to agree on the tax due. 2. After this, you’ll receive a “Best of Judgement (BOJ) letter which state your final tax liability. You’re required to object (contest) by writing to the tax authority within 30days. Failure to respond within the timeline makes the amount final and you’re required to pay. 3. When you respond, the tax authority may issue a “Notice of refusal to amend (NORA)”. At this point, you either agree to the tax liability assessed and pay, or you go to the Tax Appeal Tribunal (TAT) and from there possibly to Supreme Court depending on your tenacity to contest the liability. 4. After all these steps (1-4) have been concluded, that’s when the tax becomes “final and conclusive” and power of distrain and substitution come to play. At this point, the tax authority has given you enough ground to prove your non default. They can then seize your property and give you additional 14days for payment. If you default, they can authorize an agent says a bank or any party holding your funds to deduct the outstanding tax liability. This is what is referred to as the power of substitution. Simply put, If you owe me and you refuse to pay, but I know someone who holds your money and is subject to my authority, I can recover my money through that person. I hope this clarifies the issue of automatic deduction of your money from your bank accounts without Court order or seizure of property. Thank you. @taiwoyedele @woye1 @GazetteNGR
Ab Abdillah👩‍💻 - ACA tweet mediaAb Abdillah👩‍💻 - ACA tweet media
Taiwo Oyedele@taiwoyedele

𝐈𝐑𝐑𝐄𝐒𝐏𝐎𝐍𝐒𝐈𝐁𝐋𝐄 𝐉𝐎𝐔𝐑𝐍𝐀𝐋𝐈𝐒𝐌 𝐁𝐘 𝐏𝐄𝐎𝐏𝐋𝐄𝐒 𝐆𝐀𝐙𝐄𝐓𝐓𝐄   I usually ignore name calling because it is not worthy of attention that could otherwise be deployed productively. However, I am responding to this as a matter of public interest and hopefully to help other media organisations with similar tendencies.   Peoples Gazette published a malicious article claiming that I lied about certain provisions of the Nigeria Tax Administration Act. The accusation is false, reckless, and not supported by anything I said during the referenced TV interview.   It started with a WhatsApp message which I received from Peoples Gazette. Rather than wait for my response, they rushed to publish their accusation just after their first message below.   𝐏𝐞𝐨𝐩𝐥𝐞𝐬 𝐆𝐚𝐳𝐞𝐭𝐭𝐞: Good afternoon, Mr Ayodele. We followed your interview on Arise TV yesterday but found that you goofed and misrepresented the facts in the tax law. Contrary to your claims, Section 61 of the new law empowers the FIRS to seize Nigerians' money, properties without court order, for not paying taxes.   𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥𝐞: I will ignore your rude language since you obviously didn't understand my simple explanation. Send a screen recording of where I said what you claim. And my name is Oyedele, not Ayodele.   𝐏𝐞𝐨𝐩𝐥𝐞𝐬 𝐆𝐚𝐳𝐞𝐭𝐭𝐞: I know that your name is “Oyedele,” that was probably a typographical error. However, I wasn’t being rude to you, Mr Ayodele. During your December 24th interview on Arise TV, you claimed that the tax man (FIRS) cannot just seize people’s assets or money. This claim is contrary to the provisions in Sections 61 and 43 of the tax law. Here’s a clip from your interview: x.com/onejoblessboy/…   𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥𝐞: You can check the meaning of goof if that helps. If you're truly a professional journalist you won't jump into conclusion without due diligence. All you needed to do was watch about 2 minutes in the interview before the clip you shared, from the point the question was asked.   𝐖𝐡𝐚𝐭 𝐭𝐡𝐞𝐲 𝐜𝐨𝐧𝐯𝐞𝐧𝐢𝐞𝐧𝐭𝐥𝐲 𝐥𝐞𝐟𝐭 𝐨𝐮𝐭   My explanation clearly stated that enforcement actions do not arise in a vacuum. There is a process under the existing law which hasn’t changed – a taxpayer is entitled to self assessment, while the tax authority may issue an additional assessment to which the taxpayer has the right of objection, until the tax becomes final and conclusive under an appeal framework that involves the courts, up to the Supreme Court where applicable.   Peoples Gazette’s allegation relies on a short excerpt taken mid-response, stripped of the question and the explanation that immediately preceded it. Here is the full interview: youtu.be/GqhHq5XKr6A?si…   Responsible journalism requires due diligence, full context, and professionalism especially on a matter that is capable of misleading the public. Even if I said what they claimed, someone acting in good faith could have said “wrong” instead of “lied” but it was obviously intentional to gain the attention of their unsuspecting followers and get the clicks.   Falsehood may travel fast but only the truth can go far.

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Ab Abdillah👩‍💻 - ACA
Dear Accountants, Tax Consultants, Business Owners, IT, Sales, and Internal Control Teams, Are you aware that where your company makes taxable supplies subject to VAT, you are now required to comply with VAT attribution when filing your VAT returns? This means your VAT returns must disclose the location of customers at the point of supply (e.g., Lagos, Ikeja LGA), regardless of where the return is filed. This means that: 1. For the Sales & IT teams Engage with your management to ensure customer location data is captured within your ERP systems for accurate reporting. Possibly system upgrade and invoicing adjustments. 2. For Accountants & Consultants Sensitize and guide your management on these new requirements to ensure compliance. 3. For the Internal Control Team It’s a compliance and risk issue. Non-compliance attracts an administrative penalty of ₦1,000,000. With the rollout of Rev360 starting May, 2026, this requirement becomes more critical. Take proactive steps now and avoid unnecessary exposure.
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Ab Abdillah👩‍💻 - ACA
I made some series of posts on LinkedIn on key tax exposures and considerations for businesses under the tax reforms, my Ogas at the top had to reach out😊🤝. Fortunately, I still have some sitting in my drafts
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Ab Abdillah👩‍💻 - ACA
Based on the current political situation in Nigeria, only 3 politicians embodied the sagacity and tenacity needed in the political atmosphere: - BAT - Waziri and - Wike
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Ab Abdillah👩‍💻 - ACA
Resolving the internal crisis at Labour Party would have been the best but man lacks problem solving skills
Woye@woye1

@PeterObi will leave ADC before Presidential primaries. 2: His key leaders have been threatened him that they will not support his acceptance of Vice Presidential candidate to @atiku 3: As Tanko said “we will respond democratically”

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Ab Abdillah👩‍💻 - ACA
People underrate 9-5 too much, like the disrespect is too much and I think it’s an exposure issue. Take am play first…..
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Ab Abdillah👩‍💻 - ACA retweetledi
Ab Abdillah👩‍💻 - ACA
Anyone with the presumptive tax regulations should please share. Thank you
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Ab Abdillah👩‍💻 - ACA
Dividend decision is a core concept in SFM and corporate finance. Whether the mgt should distribute profits or retain them 100%. It’s a strategic decision. Seeing some takes online lately feels like we’re placing gold on donkeys.
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Adeniyi Ayobami
Adeniyi Ayobami@Adexnelly_·
@Hishaqq08 I love this. They shld also go further and jail some tax consultants. Walai, the more the NRA takes compliance seriously, the more it opens up jobs for young a/ctants. Some of these old fools parading themselves as consultants are just milking what should go into the govt purse.
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Ab Abdillah👩‍💻 - ACA
Reason there’s tax consultant category on Rev360. The objective is to categorize tax consultants based on the compliance profile of their clients, so if a client is non-compliant, it affects the consultant’s rating too. It’s a check on taxpayers and consultants
Adeniyi Ayobami@Adexnelly_

NRS needs to go beyond penalizing companies that evade tax, they should also go after their consultants. Some of these consultants know nothing and focus on advising clients on tax evasion rather than being strategic. Imagine what this old fool is advising someone here.

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Ab Abdillah👩‍💻 - ACA retweetledi
Ab Abdillah👩‍💻 - ACA
New intakes and forming unnecessary busy, we know you’re not, raise your head and enjoy the break while it lasts
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