MY TAX STORY – ADEYEMI ADEGUN

  1. What is your Tax Story?

My Tax story began in January 2011 when I started my career. It was few months after I became a Chartered Accountant (which was in June 2010).

I have been in Tax practice all through my 8 years seven months working experience. I was employed by Horwath Dafinone Chartered Accountants as a Tax Senior in January 2011, where I spent 4 years 7 months. I was involved in Tax compliance and advisory services to our clients. I later proceeded to Ernst and Young in August 2015 (my current employment). I work in the International Tax and Transaction Tax Sub-Service line where I became a Manager in October 2018. I specialize in providing tax advisory services, tax restructuring, tax health check, tax due diligence, some form of transfer pricing audit support services among other tax services.  

2. Was taxation a conscious career choice for you or did it ‘call’ you?

Really, I wouldn’t say taxation was my conscious career. I had wanted to be a Chartered Accountant. As such, I was open to any form of accounting, in which taxation is part off.

3. What challenges did you face on your career path?

Firstly, I will say transferring my theoretical knowledge to practical form. I had read and learnt a lot during my university and professional exam days, but I needed to put that knowledge to practice. I needed to put my taxation text books aside to understand some calculations again and apply same to the engagements I was working on.

Another form of challenge is an ongoing task. This relates to the art of resolving different client’s taxation problems. Our clients (taxpayers) would always encounter one tax issue or the other in their businesses which is often brought to us consultants to resolve. They expect a lot from us. As such, we must be on top of our game to ensure we provide quality solutions, otherwise, the client might be exposed to additional tax liabilities from the tax authority which would not be pleasant, and also could impair our image in the market.

4. Are they over now or are there still challenges?

For the first one, yes. For the ongoing, we overcome the challenges as they come.

5. In the era of seeming specialization, what advice do you have for people looking towards starting a career in taxation.

I would say such people should have an open mind towards the profession. They should update their knowledge on current trends in the tax world. A career in Taxation is very challenging, and when you don’t develop yourself, you might be making some very small but dangerous mistakes which could result to huge liabilities.

6. What has been your wildest/ craziest experience as a tax practitioner?

Although I have got a lot of crazy experiences, I think this experience is still fresh. I was involved in an engagement where the client wanted us to stay in their office all through the engagement period despite them not providing adequate information for us to conduct the engagement. I had to leave my other team members in that client’s office, while I attended to other clients issues. I think they felt that I left them with less experienced staff and did not take it lightly. Suddenly, the client became harsh, began to rubbish all my work and requested that they start speaking to my superior. I felt bad, but I had to stay calm.

7. If there was anything in the tax space you wish you did, or didn’t do, what would it be?

I’m very interested in publishing Articles on different platforms. I’m working on this, as my contribution to the tax space in Nigeria, and beyond.

Adeyemi is a Manager in the International Tax and Transaction Tax Sub Service Line in Ernst & Young (EY). He has over eight (8) years’ experience in tax practice and has worked across various sectors of the economy. Prior to joining EY in 2015, Adeyemi gained experience at Horwath Dafinone Chartered Accountants, where he became a senior tax associate.

He has experience in Buy side/ Sell side (Vendor) Due Diligence, Tax advisory and restructuring services for both local and international entities, Tax process and function optimization, and Tax compliance services to companies in various sectors of the economy.

He is an associate member of the Institute of Chartered Accountants of Nigeria (ICAN), and the Chartered Institute of Taxation of Nigeria (CITN). He also holds a Masters in Finance from the University of Lagos.

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