Introduction Federal Inland Revenue Service (FIRS) has released a new procedure, of less than 1 minute, for obtaining a tax clearance certificate (TCC). However, the new rule is subject to payment of outstanding taxes and will take effect from 1…
A taxable person is required to register for taxes in Nigeria. Individuals, employees, partnerships, and communities pay personal income tax in Nigeria. Personal income tax is payable to the relevant tax authority. Tax residents in Lagos State usually pay tax…
The tax registration process in Nigeria should be seamless one. It’s the beginning of communication with the TaxMan. We’ve put together answers to questions on tax registration with the Federal Inland Revenue Service (FIRS). Enjoy! FAQ 1. I have a…
After the Corporate Affairs Commission (CAC) issues a certificate of incorporation or registration certificate to a business, what next? This is a common question for new business owners in Nigeria. Depending on the type of industry, a new corporation may…
Upon commencement of a business in Nigeria, a taxable person shall register for taxes. Every taxable person will register with the Federal Inland Revenue Service (FIRS) as well as the relevant State Internal Revenue Service (IRS). Registration with FIRS does…
Personal Income Tax is the charge on the income of individuals, trustees, and executors. In Nigeria, the two key legislation are the Personal Income Tax Amendment Act 2011 (PITAM) and Finance Act 2020. The effective date of the Finance Act…
