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 is [...]
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 of [...]
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 taxes [...]
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 of [...]
