TIN registration in Nigeria is a compulsory process for individuals and businesses that earn income or carry out financial activities. A Tax Identification Number (TIN) is issued by the Federal Inland Revenue Service (FIRS) through the Joint Tax Board (JTB)…
Is it for state, federal, or both? Understanding the development levy at both the state and federal levels has become a major concern after Nigeria’s sweeping tax reforms were signed into law on June 26, 2025, leaving taxpayers unsure about…
TAXATION And PUBLIC FINANCE https://www.firs.gov.ng Taxation and Public finance . The primary purpose of taxation is to raise revenue to me e t huge public expenditure . Most governmental activities must be financed by taxation. But that is not the only…
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…
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,…
The complexity of managing several units of business today is becoming enormous and laborious, unfortunately, brain drain, high cost for SMEs to get competent personnel and other issues to manage this challenges are causing barriers to solve these issues.…
Nigeria’s Federal Inland Revenue Service (FIRS) shut down nine companies in Lagos this week for owing taxes to the tune of N199.4 million. A statement by the FIRS spokesperson said the following companies are shut for cases relating to tax…
SMEs needs strategies to mitigate the year end challenges. Year end is a busy time for a whole host of reasons. Holidays, travel plans, family visits, unwinding etc. But as a small and medium business owner, there are even more,…
While it is very good and encouraging to start small, staying small without expansion is a threat to the going concern of such organization. The following tips and many others coming in this series will definitely help to ensure the…