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…
Nigerian capital market authorities have created a new platform for listing of newly established companies and small and medium enterprises (SMEs). The new window allows SMEs and newly established companies, to list their shares and raise capital through the stock…
A strategic plan document is typically the result of the strategic planning process. It is a stepping-stone towards strategy implementation and offers a road map for accomplishing your business' strategic goals. Rather than being fixed in stone, your strategic plan…
The Federal Inland Revenue Service, FIRS hopes to pull in about N750 billion from about 55,000 defaulting taxpayers, Executive Chairman, Tunde Fowler said today in Abuja. Fowler on the 24th of April 2019, told the House of Representatives joint committees…
Preamble Bank reconciliation is the process of matching the balances in an organisation’s accounting records for a cash account to the corresponding information on a bank statement. The objective of this is to ascertain the differences between the two, and…
Taxes/Taxation in Lagos Nigeria is a means by which governments finance their expenditure, by imposing charges on citizens and corporate entities. It is as a way of making individuals, persons and companies contribute to growth and development of a country,…
Definition An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how the financial statements, as well as non-financial disclosures present a true and fair view of the organization. Objectives of Audit…