Nike James

I am a Partner in the Tax Regulatory and People Services practice of KPMG in Nigeria. Tweets are my personal opinion.

[Nike James @Olanike_James]

Thank you all for joining the social media tax chat. It was indeed an engaging session. The conversation continues, therefore, please reach out to me if you have further questions on the topic discussed #KPMGTaxChat #RMAFC #FIRS #Nigeria #Tax #KPMG

[Nike James @Olanike_James]

Also use the #KPMGTAXCHAT to ensure your questions are easily identified and answered.

[Nike James @Olanike_James]

@mzz_peju Furthermore, the enabling tax legislations do not have provisions for the resolutions of tax disputes between aggrieved taxpayers and the RMAFC. The Taxpayer may however seek the intervention of the Court of Law to resolve the tax dispute. #KPMGTaxChat #Tax #RMAFC #FIRS #KPMG

[Nike James @Olanike_James]

@mzz_peju Whilst S59 of the FIRSEA establishes a TAT for the resolution of audits between the FIRS and an aggrieved Taxpayer, the RMAFC Act has no similar provision.

[Nike James @Olanike_James]

@obasohandimitr1 Taxpayers therefore stand the potential risk of multiple taxation. #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@obasohandimitr1 Payments made to the FIRS are considered during RMAFC audits and vice versa. However, in instances where both audits run concurrently, each agency may refuse to recognize the liability computed and paid to the other tax agency in a bid to increase its own tax collection

[Nike James @Olanike_James]

@ToyosiTaiwo1 You are right Taiwo and the taxpayers are compelled to pay the tax liabilities established by the consultants especially where the EFCC/ICPC are involved in enforcing collections.#KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

I will be answering your questions and providing my views on the topic “Multiple taxation in Nigeria – the RMAFC conundrum” from now to 12 noon. You can join the discussion live on Zoom using the link https://t.co/s2bJm13uNT.

[Nike James @Olanike_James]

@realtosine The taxpayer will need to follow due process by first objecting to the RMAFC. The taxpayer may also rely on the strength of trade associations to push back on the RMAFC or challenge the RMAFC in the Court of Law. #KPMGTaxChat #KPMG #RMAFC #FIRS #Nigeria #Tax

[Nike James @Olanike_James]

Good morning everyone and welcome to the December Edition of the KPMG Social Media Tax Chat. Over the last (6) six years, Revenue Mobilization Allocation and Fiscal Commission (“RMAFC”) has conducted tax audits on the records of commercial banks.

[Nike James @Olanike_James]

@TheAdenekan Yes Precious, the RMAFC engage external tax consultants to conduct the audits

[Nike James @Olanike_James]

@realtosine @Akindeleadeola1 Taxpayers therefore stand the potential risk of multiple taxation. #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@realtosine @Akindeleadeola1 However, in instances where both audits run concurrently, each agency may refuse to recognize the liability computed and paid to the other tax agency in a bid to increase its own tax collection (we have seen this occurring in practice).

[Nike James @Olanike_James]

@realtosine Furthermore, the enabling tax legislations do not have provisions for the resolutions of tax disputes between aggrieved taxpayers and the RMAFC.
#KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@realtosine Whilst S59 of the FIRSEA establishes a TAT for the resolution of audits between the FIRS and an aggrieved Taxpayer, the RMAFC Act has no similar provision.

[Nike James @Olanike_James]

@FBabem The fundamental issue is whether RMAFC has the powers to audit taxpayers. If the RMAFC legally has no power to audit taxpayers, then the use of external consultants to carry out the audit is illegal. #KPMGTaxChat #RMAFC #Tax #FIRS #Nigeria #KPMG

[Nike James @Olanike_James]

@FBabem Both Federal and State revenue authorities have used external consultants to conduct tax audits. However, the revenue authorities raise the assessments and collect the taxes due from taxpayers.

[Nike James @Olanike_James]

@TushMommy Ufuoma you are absolutely right, the increased cost of compliance imposed on taxpayers by the RMAFC negatively impacts the overall ease of doing business in Nigeria. #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@GraceDurojaiye2 Hello Grace, where these companies are unsure of their ability to successfully engage with the Commission, they should seek the help of professionals who can assist them in this regard #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@obasohandimitr1 This will eliminate the current uncertainties surrounding the functions of both FIRS and RMAFC and reduce the cost of tax administration created by the duplication of tax audits. #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG

[Nike James @Olanike_James]

@obasohandimitr1 The FIRS is already legally empowered to carry out tax audits on taxpayers. If the government believes that the current actions of the FIRS are insufficient, efforts should be made to improve its effectiveness rather than enable another agency to perform the same functions.

[Nike James @Olanike_James]

@RetroStan The RMAFC has engaged the EFCC and the Independent Corrupt Practices Commission to enforce payment of disputed tax liabilities. However, ideally taxpayers should be able to seek judicial intervention on liabilities in dispute. #KPMGTaxChat #Tax #RMAFC #Nigeria #FIRS #KPMG