Business Owner and Tax Matters in Nigeria

Business Owner and Tax in Nigeria.

When you want to do business in Nigeria, the first thing to do is Business or Company Registration; the next question will be your Tax Matters.
Filling of your Value Added Tax (VAT), Withholding Tax (WHT) and Company Income Tax (CIT).

1. Register as a corporate entity with the Corporate Affairs Commission, (CAC);

2. For new business owners, your Taxpayers Identification Number (TIN) is generated automatically. TIN is free
If you have a registered businesses that have not obtained TIN or have forgotten your business TIN.

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3. Register to file and remit Value Added Tax, (VAT) and Withholding Tax (WHT) at the nearest FIRS office.
Note that you must file and pay VAT and WHT tax returns not later than 21st of every month.

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4. File your Companies Income Tax, CIT, returns not later than six months after the end of the Accounting Year or 18 months after the commencement of business or whichever comes first.

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Business Owner and Tax Matters in Nigeria

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