Chukwuemeka Eze And Emeka Onyendi, Speak On “Over View Of Taxation Law,” A Seminar Organized By OBRA LEGAL LP

A reputable law firm in Enugu State, Obra Legal LP hosted a
seminar on taxation.

The Managing Partner, Ikechukwu Onuoma Esq introduced the guests
while giving a rundown of the programme.

The Chairman, TAT South-East Zone, Chukwuemeka Eze, who Led
the discussion gave a historical background of the Personal
Income Tax Act from the Land Revenue Proclamation Ordinance of 1904
to the Income Tax Management Act (ITMA) which metamorphosed into
the extant Personal Income Tax Act which has undergone several
amendments in 2011 under the Personal Income Tax (Amendment) Act
and the Finance acts of 2019 & 2020.

Eze, also commented on the recent decision of Rivers’ state
Federal High Court in AG Rivers v FIRS empowering Rivers state to
collect VAT.

Mr. Chukwuemea Onyendi, an associate of KMPG who works in the
audit department was also on the Panel of discussants.

He gave a rundown on how taxable income in the Companies Income
Tax Act (CITA) and PITA are calculated.

He emphasized deductibles and capital allowances.

The question and answer session was very insightful as Chief
Mrs. A.J Offiah, SAN pointed out some shortfalls of the Internal
Board of Revenue in the assessment of taxable income.

For instance, some internal Revenue Service assesses persons who
do not earn up to taxable income.

The Guests, Interns, and Associates of Obra Legal LP who were
present also enjoyed the interactive session.

A reputable law firm in Enugu State, Obra Legal LP hosted a
seminar on taxation.

The Managing Partner, Ikechukwu Onuoma Esq introduced the guests
while giving a rundown of the programme.

The Chairman, TAT South-East Zone, Chukwuemeka Eze, who Led
the discussion gave a historical background of the Personal
Income Tax Act from the Land Revenue Proclamation Ordinance of 1904
to the Income Tax Management Act (ITMA) which metamorphosed into
the extant Personal Income Tax Act which has undergone several
amendments in 2011 under the Personal Income Tax (Amendment) Act
and the Finance acts of 2019 & 2020.

Eze, also commented on the recent decision of Rivers’ state
Federal High Court in AG Rivers v FIRS empowering Rivers state to
collect VAT.

Mr. Chukwuemea Onyendi, an associate of KMPG who works in the
audit department was also on the Panel of discussants.

He gave a rundown on how taxable income in the Companies Income
Tax Act (CITA) and PITA are calculated.

He emphasized deductibles and capital allowances.

The question and answer session was very insightful as Chief
Mrs. A.J Offiah, SAN pointed out some shortfalls of the Internal
Board of Revenue in the assessment of taxable income.

For instance, some internal Revenue Service assesses persons who
do not earn up to taxable income.

The Guests, Interns, and Associates of Obra Legal LP who were
present also enjoyed the interactive session.