The night before Tayo Ogungbero arrived, we had fixed everything that could be fixed, but we still felt like a groom waiting for his bride to walk down the aisle. Yes, that moment. It was more than just butterflies, it was a type of rush we still cannot define.
Notwithstanding, we were confident about delivering a beautiful experience to our well-deserving users.
The early arrival of our brilliant speaker, Tayo Ogungbero, Partner, KPMG Nigeria, gave us the needed boost. With a well-tailored suit and a dashing red tie, he walked into our home; ready to deliver top-notch knowledge.
Shortly after Tayo Ogungbero arrived, we got started with the finger chops for the day. They tasted like heaven rolled into a meal. Everyone had more than enough to binge on.
With stomachs filled, we moved on to getting our brains filled. Tayo did not disappoint with that. He had more than enough to pour into us — a masterclass it was! He spoke extensively on personal tax, levelling the associated complexities to their most basic forms, and also handled all questions with unmatched brilliance.
Excerpts from his talk:
He described taxes as the price we pay to live in a civilized society. To address the disconnect between taxes paid and the infrastructural benefits, he stated that there is no country in the world where people don’t loot government fundings, but if we stop funding the government, it will collapse. This is not to say we shouldn’t revamp the system for improved accountability.
On excessive tax, he pointed out the first step to getting your taxes right — keep your records properly. “The very best method to not pay excessive tax is tax planning. Money moves very quickly but proper record-keeping makes money easier”. He also advised business owners to be cautious of the way they present their businesses to tax authorities, “The way you present your business is the way the taxman will see you! Don’t overload your business and the process.”
Some questions he took were on benefits of the Tax Identification Number (TIN), input and output VAT, and managing disruptions. On the TIN, he said, “When trying to process documents such as a Visa, the TIN can be used to verify you as a responsible citizen.”, and simply explained difference between input and output VAT: “Input VAT is a type of value-added tax you incur while purchasing materials you plan to process, while the output VAT is that which you charge your customers. It is important that you understand this clearly so you know how to describe what you do to tax authorities and how to charge.”
Finally, on disruptions, he said, “That is why I am here (Cowrywise Hq). It is important that we sit with them to understand how we can collaborate better. We are not closed to rising businesses, but they need to have a high level of integrity and show a strong ability to scale over time.”
To further beautify the experience, after Tayo’s talk we had Hakeeb Bashorun, one of our product designers, make a short presentation. His presentation was brief but powerful. He shared the underlying emotional story of our personal finance tools and showed them how they could be used.
Did you know that with the Cowrywise Education Planner, one of our tools, you can predict the future prices of over 40 universities for up to 35 years? Also, it also advises you on how much to save yearly towards the target resumption date.
Rounding things up, we took a lot of pictures and munched on some more goodies — well-roasted chicken plated with local fries and a tasty sauce.
That was how we launched our new home (not an office) — a talk on tax, fine chops and beautiful pictures. How did your weekend go?
For more images, click here.