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Strategies To Optimize Tax Compliance For Business Owners - Business - Nairaland

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Strategies To Optimize Tax Compliance For Business Owners by Consultville(m): 5:07pm On Nov 18, 2015
The Nigerian self-assessment system requires that:- The taxpayer accurately calculate his tax liability, pay the tax due at designated bank to collect e-ticket and file self-assessment return on or before the statutory(due) date for filing such tax return; Tax returns are accepted, by the tax authority, as filed, subject to on-the-spot simple checks to ensure that tax return forms are correctly completed.

STRATEGIES TO OPTIMIZE TAX COMPLIANCE:
• Registration with the appropriate tax authority in the system immediately after CAC registration both with Federal Inland Revenue Service and the state Inland Revenue Service.
• Seek due date and requisite taxation information from the authorities
• Incorporate good bookkeeping records most beginners start with Excel for their bookkeeping.
• Seek/Consult Tax Consultants for beginners you can choose them just to guide you.
• Attend Tax Management Trainings/conferences/seminars

Remember a Tax Clearance Certificate is needed in lots of transactions, bidding for contracts, etc

7 Likes 1 Share

Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 5:35pm On Nov 18, 2015
Be Tax Compliant, save money, avoid penalties, Hire a Professional, PM or Call Me, see my signature.
Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 1:37pm On Nov 20, 2015
End time tax

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 1:37pm On Nov 20, 2015
After you ban 'I pass my neighbor' for small biz owners, you want to collect tax?

What a joke.

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by marksooyinmiebi(m): 1:38pm On Nov 20, 2015
end time tax
Re: Strategies To Optimize Tax Compliance For Business Owners by BCISLTD: 1:38pm On Nov 20, 2015
sad as a certified tax/Audit professional. ..I can you for free that businesses have been tax managing (tax evasion) authorities...since the beginning of time.

Rubbish. .stops nothing. ..



Check this out

https://www.nairaland.com/2740386/shelves..beautiful
Re: Strategies To Optimize Tax Compliance For Business Owners by yyeanqah(m): 1:39pm On Nov 20, 2015
Hw e take affect price of garri
Re: Strategies To Optimize Tax Compliance For Business Owners by benedictnsi(m): 1:39pm On Nov 20, 2015
It won't still change anything...... The tax system in Nigeria is too poor...... That's why investors around the world sees Nigeria as a good place to start business due to the fact that Nigeria is a "Tax-Heaven" they embark on such investment because of high profit accompanied by Little Tax.

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by canalily(m): 1:40pm On Nov 20, 2015
Chia! And business is not moving againangryhw cn we pay ths Tax naaundecided

Re: Strategies To Optimize Tax Compliance For Business Owners by mondee02(m): 1:40pm On Nov 20, 2015
5000?
Re: Strategies To Optimize Tax Compliance For Business Owners by sagio09: 1:41pm On Nov 20, 2015
Yes its a good decision bcox d government will will will ....bt no ,it suppose nt to be cox d economy is unsta...*I dont even no wat 2 say cox I'm a die hard fan of APC/PMB nd I no wan rubbish his govrnmnt*....so lemme jst keep shut undecided
Re: Strategies To Optimize Tax Compliance For Business Owners by engrMikemd(m): 1:42pm On Nov 20, 2015
OK
Re: Strategies To Optimize Tax Compliance For Business Owners by Whizzdom(m): 1:42pm On Nov 20, 2015
k
Re: Strategies To Optimize Tax Compliance For Business Owners by Isryl02(m): 1:43pm On Nov 20, 2015
Pay ko

Paypal ni undecided
Re: Strategies To Optimize Tax Compliance For Business Owners by gidzbobby: 1:44pm On Nov 20, 2015
another joke..... maybe Lai Mohammed will tell us its a lie.
Re: Strategies To Optimize Tax Compliance For Business Owners by Lordtrillion(m): 1:46pm On Nov 20, 2015
Ok
Re: Strategies To Optimize Tax Compliance For Business Owners by princebaby(m): 1:51pm On Nov 20, 2015
Nothing good has come to 9ja since this onye husa came to power biafra we must go!! Qoute me and tunder and ebola will strike you

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by nigeriancuban: 1:55pm On Nov 20, 2015
FREEDOM4BIAFRA:
After you ban 'I pass my neighbor' for small biz owners, you want to collect tax?

What a joke.
a real one bro,I sometimes if pmb van even do any better
Re: Strategies To Optimize Tax Compliance For Business Owners by ORACLE1975(m): 1:58pm On Nov 20, 2015
K
Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 2:01pm On Nov 20, 2015
Until nigerian govt shows wat dey use taxpayers money for. I'm not paying taxes

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by olajide8(m): 2:11pm On Nov 20, 2015
Now a question:

I received an un-posted credit tax note, not as a result of my doing thou- thou I was able to rectify the issue- now I want a tax clearance certificate- I just noticed also that some other taxes have been paid for jobs done by my company for some other private organisations, so I don't have a clear picture on the amount- the list looked long- it doesn't tally with the contracts done with them- how do I reconcile all of this without having to employ a tax consultant? I complained to other organisations, I have done a few jobs for, funniest thing today- so that they would remit my taxes - to no avail, I complained at the FIRS and to my greatest surprise, they are requesting for the e-ticket or payment schedule, which they do not have- and I am honestly not interested in paying double taxes- I can't afford it- what can I do?

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 2:11pm On Nov 20, 2015
okay.
Re: Strategies To Optimize Tax Compliance For Business Owners by Koolmak(m): 2:18pm On Nov 20, 2015
Its better you comply o. Government eye don red o. Fine anybody, anyhow.
Re: Strategies To Optimize Tax Compliance For Business Owners by kings09(m): 2:42pm On Nov 20, 2015
Businesses r closing down n u r talkin of tax.
Re: Strategies To Optimize Tax Compliance For Business Owners by Ayomivic(m): 2:59pm On Nov 20, 2015
Consultville:
The Nigerian self-assessment system requires that:- The taxpayer accurately calculate his tax liability, pay the tax due at designated bank to collect e-ticket and file self-assessment return on or before the statutory(due) date for filing such tax return; Tax returns are accepted, by the tax authority, as filed, subject to on-the-spot simple checks to ensure that tax return forms are correctly completed.

STRATEGIES TO OPTIMIZE TAX COMPLIANCE:
• Registration with the appropriate tax authority in the system immediately after CAC registration both with Federal Inland Revenue Service and the state Inland Revenue Service.
• Seek due date and requisite taxation information from the authorities
• Incorporate good bookkeeping records most beginners start with Excel for their bookkeeping.
• Seek/Consult Tax Consultants for beginners you can choose them just to guide you.
• Attend Tax Management Trainings/conferences/seminars

Remember a Tax Clearance Certificate is needed in lots of transactions, bidding for contracts, etc

what has the goverment done for this people to help them or what are they enjoy from government that would make them pay tax? They should first do something to confused us that the tax we are going to pay is not to enrich themself as they use to do. If they want us to pay tax they should first show us the reason for paying tax. They should provide stable electricity, drinkable water, street light, free education, free health care,good road, provide job for the youth etc they should do these first then we would trust them for our tax and if they can't do these they should leave us out of that because we did not benefit from them. ( Orisha bo le gbe mi semi bo se ba mi) neaning the deity, if you can not help me leave me the way you met me

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 3:00pm On Nov 20, 2015
olajide8:
Now a question:

I received an un-posted credit tax note, not as a result of my doing thou- thou I was able to rectify the issue- now I want a tax clearance certificate- I just noticed also that some other taxes have been paid for jobs done by my company for some other private organisations, so I don't have a clear picture on the amount- the list looked long- it doesn't tally with the contracts done with them- how do I reconcile all of this without having to employ a tax consultant? I complained to other organisations, I have done a few jobs for, funniest thing today- so that they would remit my taxes - to no avail, I complained at the FIRS and to my greatest surprise, they are requesting for the e-ticket or payment schedule, which they do not have- and I am honestly not interested in paying double taxes- I can't afford it- what can I do?

Gaddem it your punctuation fit cause severe headache abeg wtf!
Re: Strategies To Optimize Tax Compliance For Business Owners by Nobody: 3:01pm On Nov 20, 2015
yyeanqah:
Hw e take affect price of garri
By the time they add VAT to garri, you go know how far

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by olajide8(m): 3:13pm On Nov 20, 2015
brainbucks:


Gaddem it your punctuation fit cause severe headache abeg wtf!
Wtf? Manage abeg! Just read everything like it's one sentence -

1 Like

Re: Strategies To Optimize Tax Compliance For Business Owners by bellville: 3:26pm On Nov 20, 2015
Lagos Internal Revenue still claims arrears of personal income tax even after issuing tax clearance certificate. Very annoying.

Shop for books. Check my signature.
Re: Strategies To Optimize Tax Compliance For Business Owners by 400billionman: 5:13pm On Nov 20, 2015
Una dey find who una go chop abi ?

Re: Strategies To Optimize Tax Compliance For Business Owners by segcymoor(m): 7:19pm On Nov 20, 2015
Ok

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