HOW TO CALCULATE PAYE TAX IN NIGERIA

Personal Income Tax (PIT) is a tax imposed on individuals including employees, partners in a partnership, unincorporated trusts, joint ventures, families and communities. It is imposed based on source and residency rules. The two key legislation are the Personal Income Tax Amendment Act 2011 (PITAM) and Finance Act 2020. Personal Income Tax in Nigeria [...]

By |May 29th, 2022|Taxation|Comments Off on HOW TO CALCULATE PAYE TAX IN NIGERIA

SMALL BUSINESS TAXATION IN NIGERIA

Small businesses in Nigeria are liable for various tax obligations to various governments in Nigeria. It is important to know the taxes small businesses will be subjected to before commencing the operation of a small business in Nigeria. Upon the registration of a business, such business is required to start remitting a certain amount [...]

By |December 26th, 2020|Taxation|Comments Off on SMALL BUSINESS TAXATION IN NIGERIA

HOW TO OBTAIN TAX CLEARANCE CERTIFICATE IN NIGERIA

FIRS TAX CLEARANCE CERTIFICATE A Tax Clearance Certificate in Nigeria is basically a document stating that an entity does not owe tax for a period of time specified in the certificate. The tax clearance is a certificate of clearance, indicating one has been cleared for a period of time because it has paid its [...]

By |September 4th, 2020|Corporate Matters, Taxation|Comments Off on HOW TO OBTAIN TAX CLEARANCE CERTIFICATE IN NIGERIA

VALUE ADDED TAX IN NIGERIA

VAT IN NIGERIA The Value Added Tax in Nigeria is the tax payable on goods and services consumed by any person, whether government agencies, business organization, or individuals. It can also be said to be a tax on spending or consumption levied at every stage of transaction but eventually borne by the final consumer [...]

By |September 4th, 2020|Taxation|Comments Off on VALUE ADDED TAX IN NIGERIA