Olubanke Akanni Email & Phone Number

Nigeria

Implementation of Country by Country Reporting Regulations in NigeriaEliminating double taxation through dispute resolution via the mutual agreement procedure.Implementation of BEPS measures that are priority action for Nigeria:Action 1 on addressing tax challenges of the digital economy Action 4 on internet deductibility rule to limit interest deductions Action 6 on limiting the avoidance of PEsAction 8-10 on aligning activities to value creationAction 13 on putting… Show more Implementation of Country by Country Reporting Regulations in NigeriaEliminating double taxation through dispute resolution via the mutual agreement procedure.Implementation of BEPS measures that are priority action for Nigeria:Action 1 on addressing tax challenges of the digital economy Action 4 on internet deductibility rule to limit interest deductions Action 6 on limiting the avoidance of PEsAction 8-10 on aligning activities to value creationAction 13 on putting in place the 3 tiered Documentation Action 14 on effective dispute resolutions Show less

17B, Awolowo Road, Ikoyi - Lagos

• Review of risk assessment reports to determine high transfer pricing (TP) risks that are priority for TP audits. • Review of final and interim risk assessment reports from fact finding, and interviews conducted by team members • Oversees fact finding meetings with taxpayers in the TP audit process• Review of TP Documentation reports submitted by taxpayers as proof that business transactions were conducted at arm’s length.• Provides leadership and supervision to ensure the… Show more • Review of risk assessment reports to determine high transfer pricing (TP) risks that are priority for TP audits. • Review of final and interim risk assessment reports from fact finding, and interviews conducted by team members • Oversees fact finding meetings with taxpayers in the TP audit process• Review of TP Documentation reports submitted by taxpayers as proof that business transactions were conducted at arm’s length.• Provides leadership and supervision to ensure the series of activities in TP audit process are well carried out. Show less

17B Awolowo Road, Ikoyi, Lagos, Nigeria

Provided leadership, supervision and motivation in the team to drive the implementation of BEPS counter measures by a review of all the 15 Actions and a report highlighting and prioritizing the country actions for Nigeria.Developed Nigeria’s input into the 15 Action Plans on BEPS and the review of the OECD TP Guideline by drafting review to comments on request from Organisation for Economic Cooperation and Development (OECD) Responsible for drafting guidelines on BEPS… Show more Provided leadership, supervision and motivation in the team to drive the implementation of BEPS counter measures by a review of all the 15 Actions and a report highlighting and prioritizing the country actions for Nigeria.Developed Nigeria’s input into the 15 Action Plans on BEPS and the review of the OECD TP Guideline by drafting review to comments on request from Organisation for Economic Cooperation and Development (OECD) Responsible for drafting guidelines on BEPS counter measures in order to provide enlightenment and guidance to stakeholders.Responsible for drafting updates to TP Legislation. Show less

17B Awolowo Road, Ikoyi, Lagos, Nigeria

Pioneered the creation of the Division with other team members and gave the direction, support and leadership needed to establish processes and procedures.Engagement with stakeholders (tax consulting firms and taxpayers) at sensitization events to notify them of the take-off of the TPD and their compliance obligation requirements with the Nigeria Transfer Pricing Regulation.Engagement with the internal stakeholders (colleagues in FIRS field offices) at TP enlightenment events to… Show more Pioneered the creation of the Division with other team members and gave the direction, support and leadership needed to establish processes and procedures.Engagement with stakeholders (tax consulting firms and taxpayers) at sensitization events to notify them of the take-off of the TPD and their compliance obligation requirements with the Nigeria Transfer Pricing Regulation.Engagement with the internal stakeholders (colleagues in FIRS field offices) at TP enlightenment events to gain their support for the successful implementation of TP in NigeriaFacilitated presentations at the Division’s technical sessions for collective capacity development of all staffOversaw the development of draft TP forms and guidelines, TP FAQs, guidelines for TP filing processes and procedures which were subsequently approved and are currently in useSupervised the extraction of data from FIRS field offices to create a database on companies liable to TP as well as monitor updates of the databaseReview and evaluation of TP policies from taxpayers and endorsing correspondences with taxpayers to provide enlightenment and guidance on TP in order to promote voluntary complianceReview of risk assessment reports to determine high TP risks that are priority for TP audits. Review of final and interim risk assessment reports from fact finding, and interviews conducted by team members Oversaw fact finding meetings with taxpayers in the TP audit process Show less

17B Awolowo Road, Ikoyi, Lagos,Nigeria

Participation at the Workshops on Transfer Pricing facilitated by ATAF and other organisations as FIRS representative in preparation for the creation of the Transfer Pricing DivisionResponsible for facilitating TP technical presentations to the TP team in the Oil & Gas Office (Train the Trainers) to build capacity level of the TP teamProvided inputs into the development of the Nigeria Transfer Pricing RegulationReview of risk profiling reports to ensure risks have been… Show more Participation at the Workshops on Transfer Pricing facilitated by ATAF and other organisations as FIRS representative in preparation for the creation of the Transfer Pricing DivisionResponsible for facilitating TP technical presentations to the TP team in the Oil & Gas Office (Train the Trainers) to build capacity level of the TP teamProvided inputs into the development of the Nigeria Transfer Pricing RegulationReview of risk profiling reports to ensure risks have been analysed and interpreted in line with standardized selection criteria to ensure appropriate selection of taxpayers for auditParticipation at the special audit of a Joint venture International Oil Company (IOC) which generated about $21,000,000 and N38,000,000 in additional tax liability.Provided leadership and supervision as head of audit team to ensure the series of activities in tax audit process are well carried out. Show less

17B Awolowo Road, Ikoyi, Lagos, Nigeria

Providing leadership, motivation and support to ensure pursuit, collection and confirmation of tax payments on all tax types for large taxpayers (with turnover above N1Billion) which constitutes about 60% of total tax collections of FIRSSupervision of updates of tax collections and reconciliations with taxpayer records for issuance of tax receiptsResponsible for approval of installment payment of taxes that are in line with requirements of the tax lawResponsible for the… Show more Providing leadership, motivation and support to ensure pursuit, collection and confirmation of tax payments on all tax types for large taxpayers (with turnover above N1Billion) which constitutes about 60% of total tax collections of FIRSSupervision of updates of tax collections and reconciliations with taxpayer records for issuance of tax receiptsResponsible for approval of installment payment of taxes that are in line with requirements of the tax lawResponsible for the review of grants of withholding tax (WHT) credits to taxpayers Participation at the meetings and retreats of the monitoring committee for accelerated revenue generation and enhancement of petroleum profits tax and royalty. This is for information sharing and exchange between agencies in the Oil and Gas Sector to reduce loopholes in tax collections Show less

17B Awolowo Road, Ikoyi, Lagos,Nigeria

Analysis of all tax enquiries and recommending appropriate advisoryDrafting technical circulars/guidelines for detailed explanations on provisions of the primary legislation

17B Awolowo Road, Ikoyi,Lagos, Nigeria

Examination of petroleum profits tax returns of companies in exploration and production of oil & gas to ensure compliance with the provisions of Petroleum Profits Tax ActExamination of tax returns of oil servicing companies to ensure compliance with provisions of applicable tax lawsResponsible as secretary to the implementation committee of the National Extractive Industry Transparency International (NEITI)/FIRS Remediation on outstanding issues in the 1999-2005 audits to… Show more Examination of petroleum profits tax returns of companies in exploration and production of oil & gas to ensure compliance with the provisions of Petroleum Profits Tax ActExamination of tax returns of oil servicing companies to ensure compliance with provisions of applicable tax lawsResponsible as secretary to the implementation committee of the National Extractive Industry Transparency International (NEITI)/FIRS Remediation on outstanding issues in the 1999-2005 audits to collate reports and findings.Responsible as secretary of the technical committee of the Oil and Gas Office to circulate recommendations and positions taken on technical matters Show less

17B Awolowo Road,Ikoyi, Lagos, Nigeria

Maintained updates on taxpayer debts by ensuring imposition of penalties and interestEnsured a follow up programme for recovery of tax debts through issuance of demand notes and warning letters to taxpayersIdentified appropriate cases for litigation and for distrainMaintained status report on all cases adjudicated at the Tax Appeal Tribunal and notifying judgement debt recovery unit of judgement debtsReviewed cases of uncollectible tax arrears and made… Show more Maintained updates on taxpayer debts by ensuring imposition of penalties and interestEnsured a follow up programme for recovery of tax debts through issuance of demand notes and warning letters to taxpayersIdentified appropriate cases for litigation and for distrainMaintained status report on all cases adjudicated at the Tax Appeal Tribunal and notifying judgement debt recovery unit of judgement debtsReviewed cases of uncollectible tax arrears and made appropriate recommendationsPerformed desk examination of VAT & WHT returns to verify complianceEngaged in tax drive for taxpayer enlightenment and monitoring thereby bringing non-filers and stop filers into the tax net Show less

17B Awolowo Road, Ikoyi, Lagos, Nigeria

Examination of taxpayers’ audited accounts and tax computations to generate additional tax liabilitiesFollow up on examination of returns with reminders and additional assessments where applicableKept the record of tax paymentsImposed penalties and interests on defaults and late payments

Executive Masters In Business Administration, General Management

Bachelor Of Science (B.Sc.), Business Administration