December 22, 2015

Income taxes 5% VAT

Income taxes are imposed in each and every country of the world as these taxes make sure that the government has sufficient funds to carry out all the public interest related projects for the people of the country. In Nigeria the income taxes are imposed to different entities according to predefined rates which also make …

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Income tax questions

Income tax questions Since its launch the Nigerian Inland Revenue System has made sure that the income tax questions are not only made easy but the related processes are also made trouble-free. However is it also to be noted that in July 2014 a very important decision has been taken in this regard which has …

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Free income tax filing

Free income tax filing Nigeria has enforced double tax treaties with several countries of the world including Belgium, Canada, China and Pakistan. All the foreign companies that are working within the country also enjoy deduction in the income tax on the foreign profits that they have made. It is also to be noted that Nigeria …

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Companies Income Tax

Companies Income Tax Companies Income Tax Act in Nigeria is collected from both Nigerian as well as foreign companies. The rates are however different for both entities. Nigerian companies needs to pay tax based on their worldwide income whereas the foreign companies need to pay tax on their profits that are being made as a …

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Audit reports

Audit reports In Nigeria the audit reports are standardized and they are governed by the rules and regulations that have been defined by the FRC or the Financial Reporting Council of Nigeria. This institution was established in the year 2011 and since then it has made sure that all the financial documentation of companies working …

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