www.naijacontacts.com is a Nigeria social interaction
1. You can follow friends’ postings
2. You can post items/properties for sale such as: Lands, Buildings, Automobiles and Gadgets etc.
3. You can create awareness of your upcoming events such as: Trainings, Workshops, Meetings, Seminars and Religious Activities
4. You can post your business directories
5. You can post your classified adverts
6. You can view local and international daily news feeds
7. You can post blogs
8. You can post Topics
9. You can invite friends by importing your contacts from your Yahoo, Hotmail, Gmail
10. You can vote and create Polls for people to vote
11. You can organize contest of videos , images and share your price with the winner
12. You can upload your resume, advertise jobs, and see international job vacancies to apply
13. You can take advantage of our media gallery to share photos, music and videos
14. You can create your own group or association and share messages within the group or outside the group members.
15. You can report issues to admin or send feedback to the public
16. You can earn credit to show how popular you are in the group. The highest credit earns N1, 000 airtime credit for the month
17. You can earn commission as our affiliate marketer. By importing or inviting your contacts to join www.naijacontacts.com if such your
Invitee buys our premium membership; you stand a chance of earning commission on the direct invitees and only on next invite premium
Member upon the membership payments
18. You can chat online with members
19. There is free membership. The free membership is for life and premium membership is renewed annually
20. You can advertise your products , services, job vacancies , business directory and pin your articles to the top of other articles
21. You can download it from online store on your android phone and IOS apple. Just search for Naijacontacts

Manchester United came from two goals down to rescue a dramatic 2-2 draw against Burnley thanks to Jesse Lingard’s double, while Tottenham striker Harry Kane shattered a Premier League record with a hat-trick in a 5-2 rout of Southampton on Tuesday.
With Manchester City not in action until Wednesday’s trip to Newcastle, United are now 12 points behind the runaway leaders.
Ashley Barnes gave Burnley the perfect start in the third minute when he poked home from Johann Berg Gudmundsson’s free-kick.......

For more stories click: http://naijacontacts.com/topics/view/86/jesse-lingard-rescues-man-utd

The Minister of Information and Culture, Lai Mohammed, has accused critics of the approval of the release of one billion dollars from the Excess Crude Account to fight Boko Haram of “unnecessary, uninformed and highly-partisan criticism”, adding that they “do not know that fighting an asymmetric war is costlier than fighting a conventional war. In any case, wars, especially the war against terror, are never fought with budgetary provisions.”
Justifying the amount, the minister disclosed that counter-terror fighter jets consumed 64,021.08 litres of fuel per day amounting to N15.153m daily, adding that N20.19 million was spent on spare parts for the jets between January and November........

For more details click: http://naijacontacts.com/topics/view/81/1bn-for-b-haram-critics-uninformed-war-on-terror-never-fought-with-bu

NAIJA CONTACTS
www.naijacontacts.com is a Nigeria social interaction
1. You can follow friends’ postings
2. You can post items/properties for sale such as: Lands, Buildings, Automobiles and Gadgets etc.
3. You can create awareness of your upcoming events such as: Trainings, Workshops, Meetings, Seminars and Religious Activities
4. You can post your business directories
5. You can post your classified adverts
6. You can view local and international daily news feeds
7. You can post blogs
8. You can post Topics
9. You can invite friends by importing your contacts from your Yahoo, Hotmail, Gmail
10. You can vote and create Polls for people to vote
11. You can organize contest of videos , images and share your price with the winner
12. You can upload your resume, advertise jobs, and see international job vacancies to apply
13. You can take advantage of our media gallery to share photos, music and videos
14. You can create your own group or association and share messages within the group or outside the group members.
15. You can report issues to admin or send feedback to the public
16. You can earn credit to show how popular you are in the group. The highest credit earns N1, 000 airtime credit for the month
17. You can earn commission as our affiliate marketer. By importing or inviting your contacts to join www.naijacontacts.com if such your
Invitee buys our premium membership; you stand a chance of earning commission on the direct invitees and only on next invite premium
Member upon the membership payments
18. You can chat online with members
19. There is free membership. The free membership is for life and premium membership is renewed annually
20. You can advertise your products , services, job vacancies , business directory and pin your articles to the top of other articles
21. You can download it from online store on your android phone and IOS apple. Just search for Naijacontacts

An investigation into sexism and misogyny in the tech industry has unraveled another problem.
A recent Newsweek report revealed a slew of emails sent to brothels and pimps between 2014 and 2016 that documents the industry’s patronage of brothels and purchasing of services from trafficked sex workers........

For more stories click: http://naijacontacts.com/blogs/view/21/amazon-microsoft-employees-indicted-in-sex-trafficking-investigation

Luxury phone and gadget making company, Apple has been slammed with another class-action lawsuit over the slowing down of iPhones due to battery issues.
This is the second class-action lawsuit filed against Apple by two residents of Illinois who teamed up with other individuals from Ohio, Indiana, and North Carolina......
For more stories visit click: http://naijacontacts.com/blogs/view/23/apple-slapped-with-another-class-action-lawsuit-for-slowing-down-iphon

ASUU seeks panel of enquiry on LASU crisis
Dangote: BUA lies on claims to mines ownership
Hurdles before new minimum wage committee
Workers, FHA management disagree over promotion, staff welfare
World Bank programme boosts agribusiness
AUPCTRE kicks against proposed sale of national assets
U.S. unveils digital hub for persons with disabilities
Truck hitsAir Peace aircraft atLagos Airport
A SPECIAL PUBLICATION ON NIGERIA'S BUSINESS ICONS(1):The nation's leading wealth creators
NNPC doubles fuel supply as scarcity bites harder
A SPECIAL PUBLICATION ON NIGERIA'S BUSINESS ICONS(1):Benedict Peters: Business Magnate with a Difference
Obey the law
NASU's overreach
Poor result
Pictures of prison
Why Atiku defected from APC, by Ojudu

For More headline news click: http://naijacontacts.com/topics/view/61/news-headlines-for-22nd-dec-2017

The English city of Birmingham was on Thursday confirmed as the host of the 2022 Commonwealth Games after a troubled bidding process.

“We warmly congratulate Birmingham and England on today’s announcement –- it is a defining moment for this truly Commonwealth city,” Commonwealth Games Federation president Louise Martin told a press conference at Birmingham’s Arena Academy.

For more news on the 2022 Commonwealth games visit: http://naijacontacts.com/topics/view/50/birmingham-named-as-2022-commonwealth-games-host-city

Swansea City sacked manager Paul Clement on Wednesday after less than a year at the helm as the Premier League’s bottom club desperately search for a way out of the relegation mire.
As the season approaches its halfway point, the Welsh side are already four points adrift of safety following Monday’s 3-1 defeat at Everton, with just three wins in their first 18 Premier League matches.

For more details click: http://naijacontacts.com/topics/view/49/swansea-sack-manager-paul-clement

NAIJA CONTACTS
www.naijacontacts.com is a Nigeria social interaction
21 FEATURES OF NAIJA CONTACTS SOCIAL MEDIA COMMUNITY
1. You can follow friends’ postings
2. You can post items/properties for sale such as: Lands, Buildings, Automobiles and Gadgets etc.
3. You can create awareness of your upcoming events such as: Trainings, Workshops, Meetings, Seminars and Religious Activities
4. You can post your business directories
5. You can post your classified adverts
6. You can view local and international daily news feeds
7. You can post blogs
8. You can post Topics
9. You can invite friends by importing your contacts from your Yahoo, Hotmail, Gmail
10. You can vote and create Polls for people to vote
11. You can organize contest of videos , images and share your price with the winner
12. You can upload your resume, advertise jobs, and see international job vacancies to apply
13. You can take advantage of our media gallery to share photos, music and videos
14. You can create your own group or association and share messages within the group or outside the group members.
15. You can report issues to admin or send feedback to the public
16. You can earn credit to show how popular you are in the group. The most highest credit earns N1,000 airtime credit for the month
17. You can earn commission as our affiliate marketer. By importing or inviting your contacts to join www.naijacontacts.com if such your
invitee buys our premium membership , you stand a chance of earning commission on the direct invitees and only on next invite premium
member upon the membership payments
18. You can chat online with members
19. There is free membership. The free membership is for life and premium membership is renewed annually
20. You can advertise your products , services, job vacancies , business directory and pin your articles to the top of other articles
21. You can download it from online store on your android phone and IOS apple. Just search for Naijacontacts

PDP Dismisses Threat as Defeated Contestants Open Parallel Secretariat
Innoson Boss, Chukwuma, Rejects His Release by EFCC
FG Finally Releases N739bn Capital Vote to MDAs
NFIU to Get Independent Status Jan 1
Shell, Eni to Stand Trial in Italy over Malabu Deal
After Six-hour Meeting, Council Approves over N300bn Projects
Benin Republic Withdraws Globacom's Operating Licence
Senate to Probe FG's Planned Sale of National Theatre, TBS
Senate C'ttee: Police Got Only N3bn of Its N20bn Capital Budget This Year
ECA: Yari Has Exposed El-Rufai, Oshiomhole, Amaechi, APC as Liars, Says Omokri.....

For more trending headlines visit: http://naijacontacts.com/topics/view/43/news-headlines-for-21st-dec-2017

Bank of Japan holds rates as inflation remains low
14 hurt as car driven into crowd in Australia
Watch Streep, Hanks And Spielberg Discuss Political Drama "The Post"
Niger Delta: Letter to the President
Stephanie Coker's Husband Arrested For Fraud
Christmas is here again
Defections, Oyo APC, opposition and mixed gains
Crisis looms as Cameroonian migrants invade Cross River
Senate probes EFCC arrest of Innoson boss...

For more headline news visit: http://naijacontacts.com/topics/view/44

The Africa Trade & Investment Global Summit (ATIGS) is a unique high-level, prestigious, biennial business platform designed specifically to promote and facilitate international trade and foreign direct investment in Africa,......

For more details click: http://naijacontacts.com/events/view/3

Sales Boot camp Nigeria is a Sales training academy focused on the promotion of industries productivity developing capacity of................

For more details visit: http://naijacontacts.com/events/view/2

It will be huge!
ABOUT SME eBusiness Fair
ConnectNigeria's SME eBusiness ..............

For more details visit: http://naijacontacts.com/events/view/1/sme-ebusiness-fair-2018

Presidency: $1bn from ECA Not Meant Solely to Fight Insurgency
Culprits of Ikoyi Billions Saga Won't Go Unpunished, Buhari Vows
Bid to Pass 2018 Budget Before Year End Suffers Setback
Court Dismisses FG's Assets Forfeiture Case, Declares Aiteo's Benedict Peters' Earnings Legitimate
PDP Caucus Storms Out of House Plenary over Member's Defection to APC
The Wedding Party 2' Rakes in N73m on Opening Weekend
Mark Refutes EFCC Allegations on Illegal Purchase of Apo Residence
Count Me out of Being Your Running Mate in 2019, Deputy Governor Tells Ganduje
Buhari Felicitates with Saraki at 55.........

For more headline news click: http://naijacontacts.com/topics/view/41

Trump nears tax victory as US Senate passes overhaul
Bitcoin suffers dramatic price plunge in Asia
The beauty of grasscutter farming
Nissan S'Africa-AIDC centre obtains IMI approval
The Bar and hijab brouhaha
What Nigerians with disabilities want
Tunde Oloyede: Death of a surviving Village Headmaster
Moms & Moms 2 B holds family fair
Lanre Alfred celebrates icons in The Titan
PEFTI Cinema opens with Wedding Party 2
Serena sorts out baby teething issues, hints at return
Abuja mansion: Youre chasing shadows, Mark tells EFCC

For more newspaper headlines click: http://naijacontacts.com/topics/view/40

Nigerian veteran reggae music maestro, Majekodunmi Fasheke, popularly known as ‘Majek Fashek’, has declared that if given the chance to be Nigeria’s President, he’ll do better than President Muhammadu Buhari.

The Send Down the Rain’ crooner, boldly condemned Buhari’s government, boasting that he would be a better president come 2019 when he vies for the presidential seat.

Fashek pointed out that Nigerians ..........................

For more stories click here: http://naijacontacts.com/topics/view/39/majek-fashek-ready-to-run-in-2019-elections-promises-to-outclass-buhar

Davido and Magazine Publisher, Dele Momodu, has finally reconciled their 2-year old beef.
Both parties were at loggerheads sometime in December 2015 following baby abduction drama between Davido and his baby mama.....

For more stories click on: http://naijac[left][/left]ontacts.com/topics/view/36

With exactly six months to the 2018 FIFA World Cup in Russia, the battle among players to keep hold on to places in the Super Eagles intensifies. Naijacontacts.com have shortlisted five Nigerian attackers who ply their trade abroad, that might need to make swift January transfers to brighten their chances of making the Nigeria World Cup squad in Russia 2018.

Read more on www.naijacontacts.com

Kindly read daily news summary from here



Power restored at American airport after outage strands thousands
China Air Force drills in Sea of Japan, around Taiwan

Yuletide: FAAN assures air travellers of safety, comfort

NDLEA arrests 617 suspects, recovers 3.5 tonnes of illicit drugs in Jigawa

Militants attack intelligence training centre

NEMA presents relief materials to Numan, Dong crises IDPs

Ekiti LG poll: No plan to interfere with electoral umpire's activities ' Govt.

New bride attacks husband with razor blade

www.naijacontacts.com

It is a serious offence for a taxpayer not to file tax returns annually under the Nigeria tax laws.
Besides viewing the failure when discovered, as a serious case of tax fraud and evasion, the Board will determine the appropriate assessment for all the years on its Best-of-Judgment (BOJ) and penalize the offender severely in accordance with the tax laws.
Penalty for late filling of returns at the due date Section 55, companies income Tax Act Cap 21 LFN 2004 stipulates a payment of penalty by a Company that fails to comply with the filling of relevant tax returns as follows:
• N25, 000 in the first month in which it fails to file its tax returns and
• N5, 000 for each subsequent month in which the failure continues.
In addition, any Directors Secretary, Servant or Agent of a defaulting Company who is found guilty of connivance, neglect or acquiescence to the commission of the offence of noncompliance with the above provision shall be liable to a fine of N100, 000 or imprisonment for 2 (two) years or both such fine and imprisonment.
These audited accounts and returns shall be filed not later than six months after the close of the company’s accounting year.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36

2.20.2 List of Transactions that Require TCC
The importance of the TCC cannot be overemphasized. This is because certain transactions especially with the government and its agencies cannot be done without the certificate. The transactions that require the presentation of the certificate by the taxpayer, as detailed in Section 84(4) of PITA 2004 are as follows:
a. Application for government loan for industry or business
B. Registration of motor vehicle
c. Application for firearm license
d. Application for foreign exchange or exchange control permission to remit funds outside Nigeria (this was overlooked with effect from 1997 for opening letter of credit)
e. Application for certificate of occupancy
f. Application for award of contracts by Governments, its agencies and registered companies.
g. Application for approval of building plans
h. Application for trade license
i. Application for import or export license
j. Application for transfer to real property
k. Application for agent license
l. Application for pools or gaming license
m. Application for registration as a contractor
n. Application for distributorship
o. Confirmation of appointment by Government as a chairman or member of public board, institution, commission, company or to any other similar position made by the Government.
p. Stamping of guarantor’s form for Nigerian Passport
q. Application for registration of a limited liability company or of a business name.
r. Application for allocation of market stalls.
s. Appointment or election into public office.
t. Application for change of ownership of Vehicle by the vendor
u. Application for plot of land
v. Any other transaction as may be determined from time to time.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36.

Service audit report is an insight of what has been done by the auditor and it shows the quality of the auditor as well as the related audit that has been performed. Making a good service audit report is something that should be done without any issue and it is for the same reason that most of the auditing firms in Nigeria also make sure that the employees are specifically trained in this regard. In Nigeria the broad of directors of the company makes sure that the proper record is presented before the audit firm which shows the financial management of the company in a clear cut way. It is also to be noted that the service audit report is a backbone of any audit that is performed as it clearly shows that how good a company is when it comes to the financial management and what steps are being taken to safeguard the interests of the stakeholders as well as the investors. Making a good service audit report is of vital importance and it is one of those documents which ensure that the future of the company is decided when it comes to investment as well as the related management. Following are the factors that might change the quality of service audit report from good to bad and therefore they should be avoided to maintain an accurate record which boosts the interests of the investors as well as shareholders:

1. Presentation
The report should be presented in a well defined and professional manner as it is one of the deciding factors that ensure that the best is provided to the company and the confidence of the shareholders is boosted to a great extend. The service audit report which is not presented in a clear and professional manner give rise to ambiguities and leads the investors thinking which is considered to be fatal when it comes to financial and investment management.

2. Financial Literacy
The audit committee members should be well versed in all the related fields of the finance that are important and they should also know the implementation of the related terms in the field. If the audit committee members are not literate enough then the quality of the service audit report will deteriorate significantly leading to a situation which no member of the company wants to face anytime. The financial terms should be used in the best possible manner making sure that the services rendered are state of the art.

3. Area of influence of Audit committee team
The audit committee team should have a vast area of influence to impact the quality and the data that is presented in the service audit report. Larger the area of expertise greater will be the overall goodwill of the report leading to awesome results and making sure that the investment as well as the confidence of the shareholders is attracted in the best possible manner.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

Before we delve deep into the matter it is very important to define the term income tax so that it becomes easy for the readers to understand the topic. Income tax is a kind of levy that is imposed by the government on all the financial income that is generated by different entities within its jurisdiction. Each and every individual as well as the company is by law bound to make sure that the income tax returns are filed each year. These returns determine that whether the person is entitled for tax refund or does he owes any tax to the government. Income tax is one of the most important keys that is used by the government to serve the people ad to make sure that the general public welfare projects continue in the best possible manner.

Income tax has been impose by most of the countries of the world in a progressive manner which means that a person who earns high pays higher amount in terms of tax and vice versa. In the USA the income tax was fort imposed in the year 1812 when there was a war going on. The main purpose of this tax imposition was to make sure that the $100M are covered which the government had already spent on terms of war expenses.

Under the progressive tax system it is also to be noted that the corporations as well as large multinationals needs to pay more tax as compared to the individuals who are working for the economy of the country. Tax codes are therefore defined in a very easy manner to make sure that before filing a return the exact amount is calculated so the entity does not have to go through all the process again. In most of the countries of the world the income from the employees is generally collected by the employers who in return make sure that a combined return is filed to avoid any hassle. The income tax codes may vary for such organizations who the n implement them with the help of the professionals who are hired for the same purpose.

With the passage of time the term tax evasion has given birth to loop holes identification to make sure that the income tax systems are monitored strictly. It is also known as tax avoidance which makes sure that the income tax is always ignored or not paid by using legal means that are permitted by the law. All such practices have also tend the governments to create income tax inspectors who visit the entity to make sure that the return filed is true and nothing has been concealed in this regard. The need of the hour is to make sure that the tax avoidance is eliminated totally from the world’s economy as it leads to more vicious ideas related to the phenomenon making the idea even hard to understand.

www.InnerKonsult.com , Tax, accounting, Audit and Payroll software, 0 80 384 600 36

The types of income tax that are imposed on the Nigerians are of many kinds depending upon the structure to which a person is related. It is very important to note that the types of income tax are very important for the tax payers as it is class segregation according to which the tax is paid. Knowing the tax class is also extremely important as it makes sure that the related rules and regulations are also studied and applied so that the tax deductions are enjoyed. When it comes to burgeoning economy like that of Nigeria the types of income tax hold vital importance in this regard and the government ensures that the general public gets to know these types and always file the tax according to the class they belong. The types of the income tax that are imposed on the Nigerians are regulated and formulated by different laws in this regard and some of them are explained in detail as follows:

1. Personal income tax
The people who are working within the Nigerian economy should make sure that they file the personal income tax within the timelines that are devised by the government. It is for the same reason that the personal income tax has been further segregated by the government to make sure that the people come to know the types of income tax that are implemented by the law that governs personal income tax. Following are some of the brief entities that are covered by the personal income tax idea:
a. If a person is a Nigerian then the personal income tax law is only applicable if the earnings are being earned within the Nigeria.
b. If the individual has some business that is run using the Nigerian economy.
c. All expats are also liable to pay the income tax as they are making the livelihood within the Nigerian economy.
The government keeps a close eye on all the individuals of the country and they are taxed according to the categories that have been mentioned above.

2. Companies income tax
The types of income tax include companies’ income tax law as a second category. The companies in Nigeria are taxed according to their structure as well as type. There are several international companies working in Nigeria and they are taxed according to their profits that are being made within the country. There is a phenomenon of Education tax that binds the companies to pay 2% of the total tax for the benefit of the education in the country.

3. Petroleum profit tax
It is one of the most important tax laws that are applicable in the country and show that the Nigerian government is very keen in providing benefits to the companies that are involved in gas and petroleum businesses. It is very important to note that the tax applicable under the PPTA is exempted under the companies income tax and vice versa.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

A good company providing taxes services in Nigeria is not less than a boon due to the fact that these services are always required by the organizations. Making good taxes Services Company a partner in process will also make sure that the best outcome is got in this regard. Taxes services should be embedded with features that are state of the art and make sure that the clients get the full value of their money every time they hire a company to get the work done in a smooth manner. Outsourcing taxes services is a phenomenon the core of which is to be judged before taxes Services Company is launched. Outsourcing of any kind is done to make sure that the business focuses on the core competencies which bring in more profit and investment in the country. In order to make sure that the issue has been taken up in the best possible manner it has always been advised by the government to make sure that some of the features are always considered while hiring the best taxes services of all times. These features have been formulated after decades of research and therefore they can be considered as crux to the phenomenon which makes sure that the best is done to any business in this regard. However it is also advised by the government to make sure that the business requirements are also considered in this regard to make sure that the industry related issues are also catered in the best possible manner:

1. Smooth flow of work
It is advised to hire taxes services that have a very smooth flow of work so that the business faces minimum interruptions in this regard. If the taxes services are being hired for a small business then this point gains even more attention as small businesses require full attention of their owners. Taxes services that have this characteristic should be given top priority as it shows their efficiency and also makes sure that they are well aware of the industry standards that are prevailing currently.

2. Accessibility
It is another factor that makes sure that the best service provider is hired in this regard. The tax preparer should be accessible even after the return has been filed. At times the filing is rejected for a small reason so it is very important for the client organization to make sure that the tax preparer is accessed afterwards due to all the questions that rise after the needful has been done. The accessibility is also important as some of the tax preparers want the clients to sign the blank return forms and then forgery is committed as it has been seen in the past when it comes to Nigeria. It is therefore very important to ensure that such company is never hired in this regard and detailed contact info is also taken after the company has been hired.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

There are several types of income tax that are imposed on the individuals as well as the companies when it comes to the advanced societies of the west. But in Nigeria there are several forms of income tax that are imposed to make sure that the economy runs in a smooth manner and the government gets enough funds to back the projects of social interest. The government of Nigeria also ensures that the best possible types of income tax are provided to the companies as well as individuals so that they can file the returns in time. Following is a brief description of each and every income tax law applicable in Nigeria:

1. The personal income tax
The first and foremost types of income tax are the personal income tax. These rules are relatively tough for the people who earn their livelihoods in the country. According to this income tax rule following are the conditions according to which a person is taxed under the Nigerian income tax laws:
• If he or she is a Nigerian resident and earning in the country
• If he or she has a business in the country
• If he is not a permanent resident but still making a livelihood in the country.
A person fulfilling any of the three conditions mentioned above are taxed by the state authorities.

2. Company Income tax & Education Tax Act
These types of income tax rule have been specifically defined by the state authorities to make sure that the corporate entities are taxed. The companies that are Nigeria based are taxed according to the income they make all over the world whereas the foreign companies are taxed according to their profits. The Education Tax Act imposed by the Nigerian government also ensures that all the incorporated companies pay 2% of their assessable profits to this fund. It is also worth mentioning that incorporated company is the one that has an identity separate from its owners.

3. Petroleum profit tax
It is a form of tax that has been imposed on all those entities that are engaged in the activities related to gas and petroleum under the Petroleum Profit Tax Act or PPTA. However the government has also granted leverage in this regard so the income that is taxable under the companies income act is exempted under the Petroleum Act.

4. VAT or value added tax
It provides that the consumers of chargeable goods and services pay 5% of total value of the purchase price as tax. The VAT is handled by The Federal Inland Revenue System or FIRS that ensures that the system of VAT is maintained for the local bodies, federal government and state. The collections of the VAT are then distributed among the mentioned stakeholders.

5. Excise duties
These types of income tax are imposed on the businesses that are importing certain types of goods and services. It is also to be noted that the duty is collected by the Nigerian Customs Department who then makes sure that the earnings are forwarded to the state government who is the sole owner of all the excise duties that are collected.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

HX-1500, Compact bezel-free touch screen POS
Another “Hybrid” PoS solution out of HX series with Small Footprint and Bezel free 10.4” Touch Screen.
HX-1500 gives you more opportunities to gain a larger market share even competing with PC-PoS terminals in term of pricing. And moreover software and program of HX-1500 is a heritage from HX-4000/4500 so that you do not need to learn again.
And HX-1500, using the embedded software, provides you the benefits of :
• Save your maintenance jobs & transportation expenses like HX-4000/4500 by Remote Access/Remote Maintenance
• Data saved for longer period of time by large internal memory
• With low cost table service option – Android handheld terminal & Phoenix
• Encourage guests to revisit the shop by enriched customer loyalty
• Stock management without PC
• 50,000 PLU’s offer a neat option for Retail Scanning


•
HX-1500 BROCHURE
pdf opens in new tab







HX-1500 Features
• 10.4" bezel-free and true-flat touch screen display with enhanced waterproof performance
• Graphic LCD Customer Display support
• Touch screen with superior durability
• Remote Access/Remote Maintenance realizes swift solution to the techincal queries/issues.
• Handheld link : HX-1500 can work with Uniwell's genuine solution, Android handheld software "Phoenix".
• More Internal Memory enables data save for a longer period.
• User friendly operation with rich GUI (Graphical User Interface): users are well guided through all the operations even without manuals or training.
• Quick access to what you need by categorized groups of PLU's and Function buttons. Areas of PLU's, Function buttons, transaction screen, etc. are flexibly configured according to the convenience of users.
• Easy-to-use Table Plan enables drag & drop operation to move, transform and create tables, etc. in sales mode. Table status of subtotal amount, table-opening time/duration and customer name help better table service.
• Built-in stock control : Stock of items is shared between terminals in the network and notifies operators at certain re-ordering level of stock.
• Customer File function : a list of customers with last visit and credit amount information enables speedy pick-up and better customer service.
• Realtime/Multitasking operation with handheld order entry terminals (e.g. Phoenix) & belt printer.
• Barcode scanner interface and scale link : for Hospitality and Retail markets
• Meal Deal (Advanced Mix & Match) offers various types of discounts
• Security levels with passwords for sales, report and program.
• Customizable print format for various bills, tickets, reports.
• Loyalty function various types of built-in loyalty features available.
• Timed reports push-up and realtime price change : reports can be pushed up to the server at designated interval with a choice to download updated program file if existing on the server.
• Caller ID interface : a telephone number of incoming call can be transferred to HX-4500 to prompt an operator to pick up a Customer File or create a new one.
• TCP-IP/Serical Loyalty/Room feature : Transaction data can be transferred to a server for loyalty program, or to be merged to room charge at a hotel, via either serial or TCP-IP communication.
• Flexible report : periodical report is available with parameter entry for print or display.
• Remote communication : FTP comm. enables remote firmware update, preset data modification, and sales report push-up to remote FTP sever for web based sales analysis.
• Highspeed communication : Ethernet 100 Mbps access for rapid report/data polling, program update and data transfer between PC, kitchen printers and other ePOS terminals in a network.
• Portable storage devices : 3 x USB ports for quick on-site software update, data collection and data backup


________________________________________



Screen image of HX-4500 software type-03 (Example with some graphical buttons)

Built-in graphical buttons are customizable by BMP file.

Graphical Table Plan: Different layout is available for up to 8 locations.

Dimensions :
W260 X D265 x H99-122

Net weight :
2.0 kg

Versatile mounting options: counter or pole (dealer option).
(HX-1500 has VESA Mounting Interface Standard MIS-D75, 75 mm X 75 mm, M4)

Easy access to USB port
Interfaces
Port Cable For
ETHERNET LAN Remote Access/Remote Maintenance
High Speed IRC at 10/100 Mbps (10/100 BASE-T)
Kitchen printer
Receipt printer
FTP comm. with PC (Report, program maintenance, firmware update)
IRC report, IRC program download
UDP data streaming with PC (Journal data monitoring and analysis)
COM 1~2 RS232C For:
- PC
- Receipt printer
- Kitchen printer
- Slip printer
- Customer display
- Scanner
- Scale
- Journal data transfer
- Remote operation device
- Cashless devices
- etc.
(max. 2 devices)
USB x 3 USB - PC keyboard
- Mouse
- USB scanner
- USB memory
- USB Customer LCD display
SD card --- Data backup
Drawer 1 & 2 RJ11 1st & 2nd Drawers
Options
• Card Reader
• iButton for quick clerk sign on
• Customer display (RS232C)
• Customer LCD display (USB)
• 3rd Party Option - TriniTEQ (Kitchen Video Display System)
• 3rd Party Option - MicroPlus (Kitchen Video Display System)
Back Office Modules
• ePOS Office (Back Office Software for sales analysis and stock control)
• UniPortal (Cloud-base POS management)
• Lynx (Back Office Software for sales analysis and stock control)

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

The personal income tax in Nigeria stands at 24% as per the 2011 amendment. The older rates that were imposed by the government have also been revised in the 2011 amendment and it has made sure that the person earning over 3.2 M Nigerian Naira are charged at the revised rate of 24% as compared to the older rates for which the threshold was set at 1.6 M Nigerian Naira and the rate of tax was 25%. There are several other changes that have been made in the personal income tax act. Few of them are listed as below:
1. The tax rate on the gross income has been augmented from 0.5% to 1%.
2. According to the amendment the appeal against the unresolved case will be decided by the Tax appeal tribunal.
3. The government has also removed the 1% bonus on filing the early assessment for all the individual tax payers.
4. Interest on the WHT or withholding tax will be the same as that of the interest of the monetary policy of the Central Bank of Nigeria.
5. Previously the filing date of the income tax return was 31st March that has been changed to 31st January.
6. The 5% of the total revenue collected by the tax authorities of any genre has to be withholding to make sure that the administrative expenses are met.
7. Tax officers or inspectors are now bound to contact the high court to seek the warrants in case any of the individual tax payers has not submitted the return within time as per the rules and regulations defined by the law.
8. Corporate bonds that have been purchased by the individuals are exempted from tax as compared to the law that prevailed before.
9. Individual tax clearance certificates are now mandatory to change the ownership of cars and other vehicles and land title transfer.
Following is a table that has been drawn specifically to highlight and segregate all the changes that have been made within the personal income tax law in 2011.

Old Bands Old Rates New Bands New Rates
First N30,000 5% First N300,000 7%
Next N30,000 10% Next N300,000 11%
Next N50,000 15% Next N500,000 15%
Next N50,000 20% Next N500,000 19%
Above N160,000 25% Next N1,600,000 21%
Above N3,200,000 24%

The amendment in the act was finalized on 14 June 2011 but it was presented to the public in the 4th quarter of the same year which made it almost impossible for some personal income tax payers to file the returns and for which the government was severely criticized. All the tax experts of the country also criticized the government saying that the amendment should have been presented to the public on the date it was formulated, drafted and finalized. All the expatriates also fell prey to personal income tax especially the ones the countries of which did not have a double tax agreement with Nigeria.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 0 80 384 600 36,

The personal income tax in Nigeria stands at 24% as per the 2011 amendment. The older rates that were imposed by the government have also been revised in the 2011 amendment and it has made sure that the person earning over 3.2 M Nigerian Naira are charged at the revised rate of 24% as compared to the older rates for which the threshold was set at 1.6 M Nigerian Naira and the rate of tax was 25%. There are several other changes that have been made in the personal income tax act. Few of them are listed as below:
1. The tax rate on the gross income has been augmented from 0.5% to 1%.
2. According to the amendment the appeal against the unresolved case will be decided by the Tax appeal tribunal.
3. The government has also removed the 1% bonus on filing the early assessment for all the individual tax payers.
4. Interest on the WHT or withholding tax will be the same as that of the interest of the monetary policy of the Central Bank of Nigeria.
5. Previously the filing date of the income tax return was 31st March that has been changed to 31st January.
6. The 5% of the total revenue collected by the tax authorities of any genre has to be withholding to make sure that the administrative expenses are met.
7. Tax officers or inspectors are now bound to contact the high court to seek the warrants in case any of the individual tax payers has not submitted the return within time as per the rules and regulations defined by the law.
8. Corporate bonds that have been purchased by the individuals are exempted from tax as compared to the law that prevailed before.
9. Individual tax clearance certificates are now mandatory to change the ownership of cars and other vehicles and land title transfer.
Following is a table that has been drawn specifically to highlight and segregate all the changes that have been made within the personal income tax law in 2011.

Old Bands Old Rates New Bands New Rates
First N30,000 5% First N300,000 7%
Next N30,000 10% Next N300,000 11%
Next N50,000 15% Next N500,000 15%
Next N50,000 20% Next N500,000 19%
Above N160,000 25% Next N1,600,000 21%
Above N3,200,000 24%

The amendment in the act was finalized on 14 June 2011 but it was presented to the public in the 4th quarter of the same year which made it almost impossible for some personal income tax payers to file the returns and for which the government was severely criticized. All the tax experts of the country also criticized the government saying that the amendment should have been presented to the public on the date it was formulated, drafted and finalized. All the expatriates also fell prey to personal income tax especially the ones the countries of which did not have a double tax agreement with Nigeria.

www.InnerKonsult.com Nigeria Accounting, Tax, Audit & Investigation service 08038460036,

The personal income tax in Nigeria stands at 24% as per the 2011 amendment. The older rates that were imposed by the government have also been revised in the 2011 amendment and it has made sure that the person earning over 3.2 M Nigerian Naira are charged at the revised rate of 24% as compared to the older rates for which the threshold was set at 1.6 M Nigerian Naira and the rate of tax was 25%. There are several other changes that have been made in the personal income tax act. Few of them are listed as below:
1. The tax rate on the gross income has been augmented from 0.5% to 1%.
2. According to the amendment the appeal against the unresolved case will be decided by the Tax appeal tribunal.
3. The government has also removed the 1% bonus on filing the early assessment for all the individual tax payers.
4. Interest on the WHT or withholding tax will be the same as that of the interest of the monetary policy of the Central Bank of Nigeria.
5. Previously the filing date of the income tax return was 31st March that has been changed to 31st January.
6. The 5% of the total revenue collected by the tax authorities of any genre has to be withholding to make sure that the administrative expenses are met.
7. Tax officers or inspectors are now bound to contact the high court to seek the warrants in case any of the individual tax payers has not submitted the return within time as per the rules and regulations defined by the law.
8. Corporate bonds that have been purchased by the individuals are exempted from tax as compared to the law that prevailed before.
9. Individual tax clearance certificates are now mandatory to change the ownership of cars and other vehicles and land title tranable that has been drawn specifically to highlight and segregate all the changes that have been made within the personal income tax law in 2011.

Old Bands Old Rates New Bands New Rates
First N30,000 5% First N300,000 7%
Next N30,000 10% Next N300,000 11%
Next N50,000 15% Next N500,000 15%
Next N50,000 20% Next N500,000 19%
Above N160,000 25% Next N1,600,000 21%
Above N3,200,000 24%

The amendment in the act was finalized on 14 June 2011 but it was presented to the public in the 4th quarter of the same yearuarter of the same year which made it almost impossible for some personal income tax payers to file the returns and for which the government was severely criticized. All the tax experts of the country also criticized the government saying that the amendment should have been presented to the public on the date it was formulated, drafted and finalized. All the expatriates also fell prey to personal income tax especially the ones the countries of which did not have a double tax agreement with Nigeria.

www.InnerKonsult.com Nigerit & Investigation service 0 80 384 600 36,