Home Business Nigeria: Experts Task Experiential Marketing Companies On Tax, Pension Compliance

Nigeria: Experts Task Experiential Marketing Companies On Tax, Pension Compliance

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Partner, Tax and Regulatory Services at the Deloitte, Oluseye Arowolo, has identified multiple taxation as a structural problem in Nigeria.

He has also advised members of the public to always engage professionals while taking the advantage of the country’s tax system.

Speaking on the topic “Nigeria’s Changing Tax Landscape” during the hybrid event tagged: “EXMAN Training 2021,” Arowolo urged members of the Experiential Marketers’ Association of Nigeria (EXMAN) to always do impact assessment, train staff members on new tax requirements and understand that by law, withholding tax can be brought forward amongst others.

Also speaking at the event which was put together by the leadership of EXMAN for members to ensure compliance and work within the details of the law and appreciate the importance of taxation and pension scheme, the Team Lead, Business Development at ARM Pension Manager, Lanre Oyenekan, stated that the importance of pension scheme cannot be over-emphasised as it mitigates future hardship and makes employees’ future secured which in turn boost productivity.

Oyenekan, who spoke on “Relevance of Pension in The Changing World,” added that pension was expected to be taken from basic, housing and transport allowances while the eight per cent is deducted as employee’s contribution and the employer on their part contributes additional ten per cent and they should not be in default.

He urged EXMAN members to comply and speak to their pension managerS when they have issues and those who don’t have should as a matter of urgency engage one.