Chai, my people! Wetin dem dey talk for tax matter so? Taiwo Oyedele, wey be chairman for Presidential Committee on Fiscal Policy and Tax Reforms, don drop some heavy gist about the ‘power of substitution’ wey no be new for our tax laws o!
Omo, dis matter carry plenty gist as e even happen for webinar wey dey discuss Tax Reform Acts for HR and all dem tax managers. Dem gather plenty people where sabi taxes, and Taiwo make am clear say, dis substitution power no be wetin dem just create from scratch, na sharp idea wey dey show say government dey ready to catch tax evaders.
Make we break am down: dis power fit help tax authorities when person no file im returns or when dem see say wetin you talk no match wetin dey happen for your bank account or wetin you dey do. Imagine say you just buy new car, build house, or travel abroad, but your tax file no show any of dem. Na so dem go come ask you question, and if you no fit give better answer, dem fit fit say you dey owe like 5 million! Abeg, no be play matter, e be real!
Once dem don say you owe, you go get time to object no be small. If you no happy with wetin dem talk, you fit take am go tax tribunal or even High Court. No go say your matter don finish, you fit carry am go Supreme Court sef! Dem go dey gist you say na for your own good! And when court don finally talk say you dey owe 2.5 million, dem go tell you make you pay am sharp, but if you no pay, dem go fit collect am from your bank account directly. E get as e be o!
But Oya! Makes we clear some brain, Taiwo no gree make anybody fear say dem go just enter your bank na like that. He talk say dem go always let you know wetin dey happen before any move happen, no be just enter like thief wey no wear slippers. So, all dis wahala wey we dey hear no be say dem just dey shop from your pocket without your head understanding am!
Wetin dey choke be say many Nigerians still dey struggle to file their tax returns, sabi why? Many people dey think say if dem dey work for company wey dey deduct tax, dem no need to do anything again. Na big lie o! Even if your employer dey do im part, you still get your own am to file. Make we no carry ‘no fit’ dey run from our responsibilities. You sabi say deadline dey come soon, so no go sleep on top matter!
Omo, Taiwo way sabi talk talk dey urge everybody—companies and individuals—to do the needful. E dey say if all of us fit comply, e go better for us. Dem go even reduce Income Tax on top say some people dey suffer. Plus, dem go remove VAT on basic consumables. Omo, na win-win matter o!
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