Tax Archives - Accountancy, Assurance, Audit and Tax Services

Tax Clearance and Intellectual Property Sharing: Preserving Nigerian Companies’ Innovations in Collaborations.

Introduction: In a rapidly evolving business landscape, collaborations and partnerships have become vital for Nigerian companies seeking to harness innovation and drive growth. In the realm of collaborative ventures, the sharing of intellectual property (IP) emerges as a strategic asset. However, the complexities of IP sharing are intertwined with tax implications. This article delves into …

Tax Clearance and Intellectual Property Sharing: Preserving Nigerian Companies’ Innovations in Collaborations. Read More »

SMEs and Tax Incentives: Lagos Inland Revenue Service’s Supportive Approach.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: Small and Medium-sized Enterprises (SMEs) form the backbone of economies worldwide, driving innovation, creating jobs, and contributing to economic growth. In Lagos, Nigeria, the importance of SMEs is recognized, and the Lagos Inland Revenue Service (LIRS) has adopted a supportive approach by offering a range of tax incentives to empower and encourage these businesses. …

SMEs and Tax Incentives: Lagos Inland Revenue Service’s Supportive Approach. Read More »

LIRS and Startups: Exploring Tax Incentives for Innovative Businesses.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: Startups are the lifeblood of innovation and economic growth, driving forward new ideas and solutions that shape industries and societies. Recognizing the vital role startups play in Lagos, Nigeria’s economic landscape, the Lagos Inland Revenue Service (LIRS) has introduced a range of tax incentives to support and encourage these innovative businesses. This article delves …

LIRS and Startups: Exploring Tax Incentives for Innovative Businesses. Read More »

E-commerce Taxation in Lagos: Inland Revenue’s Perspective on Digital Businesses.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: The rise of e-commerce has reshaped the business landscape, providing opportunities for entrepreneurs to reach a global market from the comfort of their homes. However, as the world of commerce evolves, so do the complexities of taxation. In Lagos Nigeria, the Lagos Inland Revenue Service (LIRS) has been closely observing the growth of digital …

E-commerce Taxation in Lagos: Inland Revenue’s Perspective on Digital Businesses. Read More »

CIT Planning Strategies: Effective Tax Planning Techniques for Nigerian Companies.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: Tax planning is a critical aspect of financial management for businesses in Nigeria. Companies strive to optimize their tax positions while ensuring compliance with the Companies Income Tax (CIT) Act. Effective tax planning involves employing strategic techniques to legally minimize tax liabilities and maximize after-tax profits. In this article, we will delve into effective …

CIT Planning Strategies: Effective Tax Planning Techniques for Nigerian Companies. Read More »

CIT and Employee Compensation: Tax Considerations for Salaries, Benefits, and Bonuses.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: Employee compensation is a fundamental aspect of business operations, reflecting a company’s commitment to its workforce’s well-being and performance. However, the Companies Income Tax (CIT) Act in Nigeria outlines specific tax considerations that businesses must address when structuring employee compensation packages. Ensuring compliance with these tax regulations is crucial to avoid penalties and maintain …

CIT and Employee Compensation: Tax Considerations for Salaries, Benefits, and Bonuses. Read More »

Growing Green: Environmental Tax Incentives Offered by OGIRS.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: As the world embrace sustainability and environmental responsibility, government and businesses alike are exploring ways to promote environmentally friendly practices. In Ogun State, Nigeria, the Ogun State Internal Revenue Service (OGIRS) has taken a proactive stance by offering environmental tax incentives to businesses that prioritize eco-friendly initiatives. These incentives not only contribute to environmental …

Growing Green: Environmental Tax Incentives Offered by OGIRS. Read More »

Tax Strategies for Real Estate Investments: OGIRS Guidelines for Property Owners.

Leave a Comment / Nigerian Tax, Tax / By Glory

Introduction: Real estate investments have long been a favored avenue for wealth creation and portfolio diversification. As property owners in Ogun State, Nigeria, you must be aware of the tax implications associated with real estate transactions and holdings. The Ogun State Internal Revenue Service (OGIRS) provides valuable guidelines for property owners to navigate these tax …

Tax Strategies for Real Estate Investments: OGIRS Guidelines for Property Owners. Read More »

Rwanda Becomes The First Country To Remove Tax on Sanitary Pads

Leave a Comment / CAC- Corporate Affairs, Nigerian Tax, Tax / By Aminu Tobi

Rwanda has become the first country to scrap the tax on sanitary pads. The move, according to Rwandan authorities, intends to create a favorable environment for poor female students who are often forced to skip school during their periods. A pack of ten sanitary pads currently goes for around 1,000 Rwandan Francs ($1.07). The products …

Rwanda Becomes The First Country To Remove Tax on Sanitary Pads Read More »