The Federal Inland Revenue has issued a 7 days deadline to tax defaulters in Nigeria. The FIRS informed all taxpayers who are in default of payment of taxes to pay up. Individuals, partnerships, enterprises, corporate organisations, Ministries, Departments and Agencies.…
Employee fraud is a significant problem faced by organizations of all types, sizes, locations, and industries. While we would all like to believe our employees are loyal and working for the benefit of the organization. There are still many reasons why…
We wish you a very prosperous and fruitful new month. At SOW professional, we create edge for businesses. Contact us for your Tax Management, Audit, Management and Business Supports, We can also use our digital know how to improve your…
1. INTRODUCTION In order to avoid the challenges of Tax and Penalty, it is imperative for both organisations and individuals to understand what is available. Section 2 and schedule 1 of Federal Inland Revenue Service Act, 2007 empowered Federal Inland…
A cost-benefit analysis is a tool used by Management of businesses, to analyze decisions. The business or analyst sums the benefits of a situation or action and then subtracts the costs associated with taking that action. Some Consultants or Analysts…
Importan
ce of Sensitivity Analysis
Sensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system can be divided and allocated to different sources of uncertainty in its inputs. It can also referred to as “what-if” or simulation analysis. It is a way to redirect the outcome of a decision given a certain range of variables. By creating a given set of variables, an analyst can determine how changes in one variable affect the outcome.
How to solve Tax problems in Nigeria is indeed worrisome, disturbing and distasteful. Having tax authority in Nigeria to come after you or your organization is indeed a nightmare. In August 2018, the FIRS placed a lien on accounts of…
Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process. A business owner compares actual results with the budgeted expectations and if actual costs are higher than planned, management takes action.…
A tax clearance is a certificate stating that a corporation has no tax due for a particular period of time. The certificate is an indication that applicant tax affairs with the government's agency, responsible for tax management, is in order. The certificate may…
How to Process Tax Refund in Nigeria A tax refund or tax rebate is a refund on taxes when the tax liability is less than the taxes paid. Taxpayers can often get a tax refund on their income tax, if the tax they owe is less…