Cremelawyer's Blog: SENTENCE: WHERE DISCRETION OF THE COURT IS APPLICA...

Cremelawyer's Blog: SENTENCE: WHERE DISCRETION OF THE COURT IS APPLICA...: A business woman, Doyin Adebowale Adekoya has been sentenced by Justice Hakeem Oshodi of the Lagos State High Court to Six Months Communit...

SENTENCE: WHERE DISCRETION OF THE COURT IS APPLICABLE

A business woman, Doyin Adebowale Adekoya has been sentenced by Justice Hakeem Oshodi of the Lagos State High Court to Six Months Community Service bothering on a   N20,547,000 Fraud on a Nine count charge bordering on stealing, conspiracy  and Obtaining Money under false pretense...............Culled from Instablog

Cremelawyer's Blog: DEATH SENTENCE: LEKAN SHONDE

Cremelawyer's Blog: DEATH SENTENCE: LEKAN SHONDE: Lekan Shonde has been sentenced to death by Hon Justice Oyefeso of the Lagos High Court after finding him guilty of the death of his wife ...

DEATH SENTENCE: LEKAN SHONDE

Lekan Shonde has been sentenced to death by Hon Justice Oyefeso of the Lagos High Court after finding him guilty of the death of his wife ,Ronke on the 5th of May 2016 at their residence in Egbeda Lagos.

The couple were blessed with two children. 

I commend the effort of the Honorable Justice for this judgment but its important to educate ourselves on Sentencing and remedies available to the accused person, Mr Lekan Shonde

ACTRESS MONALISA COKER: TAX EVASION

Actress Monalisa Coker has been issued a Bench Warrant by Justice Adedayo Akintoye of the Lagos High court over Tax Evasion.This is over no-remittance of Annual Tax Returns and Personal Income Tax for  Six years.

As always for the purpose of this discussion we shall educate the readers on few payable Taxes and how its paid.

A. PERSONAL INCOME TAX: is distinct from Tax paid by companies , it is a tax paid by owners from their income  i.e Salary or dividend from firm (employment or running one's business), there are two major types of Personal Income Tax (PIT)

I. PAY-AS-YOU-EARN: This is a method of collecting Personal Income  Tax from employees salaries and wages through deduction at source by employer as provided by Section 81 of the PERSONAL INCOME TAX CAP P8 LFN 2011

II. TAXES FROM SELF EMPLOYED PERSON (DIRECT ASSESSMENT): This is an assessment raised directly on self self employed persons (Professionals, Landlords, Traders etc) This self employed person will without notice file a return of Income in the preceding year.

B.VALUE ADDED TAX is a consumption tax paid when goods are purchased or services are enjoyed, VAT is a tax levied on consumption and is collected by the FIRS on behalf of the  Federal Government of Nigeria and is shared by Federal, State and Local Government based on statutory formula.

This is compulsory for all business entities even though some businesses are exempted i.e Medical Services, Plays and Performances conducted by educational Institutions as part of learning and all export goods.

Lastly, entertainment Services like that of the beautiful actress is taxable and failure to file returns attracts 150% of the uncollected tax plus 5% interest above CBN re-discount rate.

Contribute to the Nation Building, PAY YOUR TAX.

Thank you 

Oyenike