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Leadway Assurance, PwC Hold Seminar on Tax in Insurance Sector

By Modupe Gbadeyanka

A one-day seminar focusing on the current tax reform policy of the federal government as it relates to the insurance industry will hold on Tuesday, September 25, 2018.

The event is put together by Leadway Assurance in partnership with leading consulting firm in Nigeria, PricewaterhouseCoopers (PwC).

The programme, which takes place at the Oriental Hotel, Lagos, is aimed at enlightening the public, especially the business community, on tax matters.

The seminar is also to promote the exchange of ideas between tax regulators and companies on existing, practical tax matters to ensure compliance and avoid sanctions.

Guests expected at the forum themed ‘Taxation Matters in Insurance Value Chain,’ will have speakers/panellists such as Mr Babatunde Fowler, Chairman of the Federal Inland Revenue Service (FIRS); Mr Ayodele Subair, Chairman of Lagos State Inland Revenue Service (LIRS); Mr Kenneth Erikume, Partner PWC and Mr Taiwo Oyedele, Partner PWC together with a number of Leadway Assurance executives.

A statement from the Commercial Director, Leadway Assurance, Mr Gboyega Lesi, noted that with the growing increased drive by the government to improve the Nigerian economy, the Federal Inland Revenue Service and various state revenue agencies have taken steps to increase tax collection across board by enforcing the existing tax laws in the bid to improve the country’s tax to GDP ratio which at 6% remains one of the poorest in Africa.

He said that as the economic narrative in the country continues to change significantly due to the new tax regime, it is important that service providers in the insurance industry understand their rights and responsibilities along the value chain especially as regards to indirect taxes like Withholding Tax and Value Added Tax.

He added further that, “The central point of Leadway’s philosophy is commitment to the provision of integrated insurance and financial services to the Nigerian public and this seminar on Taxation Matters in the Insurance Value Chain is a mark of its commitment to leveraging on its unique capabilities, skills and network to present Insurance as a risk management tool to its clients.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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