HOW TO EASILY PAY YOUR TAXES IN NIGERIA

Taxes are an important avenue of revenue generation for the government, as individuals and business owners paying taxes help give back to the government and contribute to development. All business registered in Nigeria are expected to pay the Companies Income Tax (CIT). Partnerships and ventures are expected to pay the Personal Income Tax (PIT) which is administered either as – PAYE (Pay-As-You-Earn) taxes from employment (employees) or Taxes from a self-employed person. Say what you will about Nigerian government organisations, but you have to admit that there is an attempt to automate a lot of government processes, reducing the time and rigor involved in doing things as simple as registering your business with the CAC or filing taxes. Following that trend, the Federal Inland Revenue Service FIRS has introduced ...

How to file your taxes in 5 easy steps

Taxes are an important part of revenue generation for the government, as individuals and business owners paying taxes help give back to the government and contribute to development. All business registered in Nigeria are expected to pay the Companies Income Tax (CIT). Partnerships and ventures are expected to pay the Personal Income Tax (PIT) which is  administered either as - PAYE (Pay-As-You-Earn) taxes from employment (employees) or Taxes from self-employed person So, as long as your business is registered in Nigeria, you are expected to pay taxes. The process has been made much easier these days, as the Federal Inland Revenue Service (FIRS) lets you complete most of the process online.  Step 1: Obtain/Verify you Tax Identity Number (TIN) Your Tax Identity Number (TIN) is a unique number issued ...