Taxation simply refers to a levy imposed by a taxing authority, usually a government on a group, organization or individual known as the taxpayer. This levy is charged compulsory from the taxpayer as a means of income generation for the government.
FIRS
An Overview of Companies Income Tax (CIT) in Nigeria
The concept of Companies Income Tax (CIT) in Nigeria is the company creating a business entity, which is recognized as a legal entity for tax purposes. The business entity could be a sole proprietorship, partnership, or corporation.
Difference Between Tax Evasion and Tax Avoidance
In any government of a country, continent or nation, the citizens are expected to be responsible for its smooth running. While the electorates often look up to the government for the provision of every essential amenities through the magic wand of the political power it holds, the people also have a role to play while the magic show is in progress.
Tax Implications of Transactions With Foreign Entities
It is no longer news that the world is now a global economic village and no country can survive without engaging in transactions with other countries. Hence, it behooves all stakeholders to pay closer attention to tax issues relating to transactions with foreign entities and ensure that grey areas around the law are uncovered and resolved.
Tax Administration & Collection in Nigeria – All You Need to Know
Tax Administration in Nigeria
The three major tiers of government: Federal Government, State Government and Local Government have been saddled with the responsibility of collecting tax in Nigeria.
Lagos State Internal Revenue Service (LIRS) Head Office Address
The Lagos State Internal Revenue Service (LIRS) Head Office Address is at Good Shepherd Building, Opposite Lagos State Secretariat Main Gate, Alausa, Ikeja, Lagos.
The Core Functions of the FIRS Nigeria
The Federal Inland Revenue Service (FIRS) is the only Federal Government institution saddled with the primary responsibility of the collection and payment of Federal government taxes across Nigeria.
How to Register a Business Online in Nigeria
I registered my business through the Corporate Affairs Commission (CAC) online registration. It is not difficult, no it’s not and this post will do justice to that. I am here to give you all you need regarding registering with CAC online. This is not just an article that was drawn, it is a recount of my experience registering with the corporate affairs commission.
An Overview of Value Added Tax (VAT) in Nigeria
The history of Value Added Tax (VAT) in Nigeria can be traced to as far back as 1993 when it was introduced by the Nigeria Military Government.