TAX CLEARANCE CERTIFICATE The tax clearance is a certificate of clearance, indicating one has been cleared for a period of time because it has paid its taxes if any. There are many uses for the TCC in Nigeria. The body…
PAYE Remittance in Nigeria You know those little deductions you see on your pay slip, when you receive your salary, if you look closely, you will find that one of such deductions is the PAYE. For some of, you have…
CFO Services for Small Business A CFO carries the highest level of responsibility at a business for managing and advising about the financial activities and well-being of the company. This might sound similar to a bookkeeper or an accountant, but…
Outsourced CFO Financial management measures the growth of your company as to how your company is performing in the world sphere. No doubt, you leave no stone unturned in surging up the growth graph of your company, but you may…
Categories of NUPRC (DPR) Permits DPR (NUPRC) Permits Registration in NigeriaNigerian Upstream Petroleum Regulatory Commission (NUPRC) formally Department of Petroleum Resources (DPR) is the body that has the statutory responsibility of ensuring compliance to petroleum laws, regulations and guidelines in…
VAT Exemption in Nigeria Value Added Tax (VAT) is a tax levied on goods and services consumed. It is an indirect tax wherein the payment burden is borne by the final consumer of the goods and services. This tax was…
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…
Type of Taxes in Nigeria and how they are administered. Ideally, a Nigerian is expected to know the types of taxes in Nigeria and how they are administered. However, not so many people are familiar with their tax obligations. As…
THE ROLE OF TAXATION IN ECONOMIC GROWTH OF NATIONS.
Economic Growth remains a MACRO-ECONOMIC objective of any nation, be it developed or developing alike. Economic growth serves as an increase in the capacity of an economy to produce goods and services, compared from one period of time to another. Governments are saddled with responsibility of providing some basic infrastructure for the citizens, stabilization of the economy, redistribution of income, provision of economic services are some major responsibilities a government owes its citizenry. The ability of government to live up to these responsibilities largely depends on the amount of revenue generated by the government through the various sources (internal and external) available to it. One of such sources is TAXATION.
Taxation being an important fiscal policy instrument at the disposal of government to mobilize revenue and promote economic growth development. Taxation is a mechanism through which the government seeks to realize some of its economic objectives. Taxation can be used to influence or direct the consumption pattern of citizens. It can be used to encourage or discourage investment in certain sectors of the economy. In this, the government can significantly reduce the number of ‘harmful and antisocial’ but not illegal economic activities. It can also be used to protect local and small businesses and reposition them to better compete with their bigger, foreign counterparts.
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SOW Professional Services Limited Bagged Business Improvement Royal Leadership Award The Senior Partner of SOW Professional Services Limited, Prince Oyewole Samuel Omofojoye won the award for Business Improvement and Development Royal Leadership of City Plus Celebrity Magazine. Samuel Omofojoye of…