How to File and Pay Taxes

What do MSMEs stand to gain from paying taxes?

What do MSMEs stand to gain from paying taxes?

By Deloitte Nigeria 2 min read
Paying taxes in Nigeria is one of the inevitable duties of every business owner yet an unwanted obligation,…
Key things to know about the Nigerian Tax System

Key things to know about the Nigerian Tax System

By Chukwuemeka Ayogu 1 min read
If your business is structured as an enterprise it is important to know that there are some taxes you shouldn't…
Tax Implications of Accounting Errors (1)

Tax Implications of Accounting Errors (1)

By Deloitte Nigeria 3 min read
Nigeria currently operates a self-assessment tax regime. What this means is that taxpayers are given the right to…
FIRS could seal your office if you get these two notices

FIRS could seal your office if you get these two notices

By Nairametrics Financial Advocates 1 min read
The Federal Inland Revenue Service (FIRS) has made it clear to businesses in Nigeria that it is…
Due Dates for Filing Tax Returns and Statutory Deductions

Due Dates for Filing Tax Returns and Statutory Deductions

By Deloitte Nigeria 4 min read
We have highlighted in the table below, timelines for filing common tax returns and statutory deductions: …
MSME Tax 101 - What is CIT?

MSME Tax 101 - What is CIT?

By Deloitte Nigeria 4 min read
Companies income tax (CIT) is a type of tax levied on profits of limited liability companies accruing in, derived…
Frequently Asked Questions and Answers on General Tax Administration

Frequently Asked Questions and Answers on General Tax Administration

Photo Credit: Question 1 What happens when a taxpayer's payment is posted to a wrong tax
By Oyindamola Adeosun 4 min read
Registration of Micro, Small and Medium Enterprises (MSMEs) for tax purposes

Registration of Micro, Small and Medium Enterprises (MSMEs) for tax purposes

Micro, Small and Medium Enterprises (MSMEs) are the crux of economic growth of any nation.
By Deloitte Nigeria 3 min read
State Government Taxes for Micro, Small and Medium Enterprises (MSMEs)

State Government Taxes for Micro, Small and Medium Enterprises (MSMEs)

The administration of taxes in Nigeria is vested in the various tax authorities at each tier of
By Deloitte Nigeria 2 min read
Understanding Value Added Tax (VAT) in Nigeria

Understanding Value Added Tax (VAT) in Nigeria

Value Added Tax (VAT) is an indirect tax levied at a rate of 5% on goods and services consumed. The
By Oyindamola Adeosun 1 min read
FAQs on General Tax Issues for Nigerian MSMEs

FAQs on General Tax Issues for Nigerian MSMEs

1. Why are MSMEs required to pay Tax? MSMEs, like other taxpayers are considered as legal and
By Deloitte Nigeria 2 min read
Pension contributions in Nigeria: Obligations for remittance (Part 1)

Pension contributions in Nigeria: Obligations for remittance (Part 1)

The National pension scheme is a compulsory arrangement where both employees and employers put some
By Deloitte Nigeria 1 min read
How to avoid paying excessive taxes in Nigeria

How to avoid paying excessive taxes in Nigeria

Taxes are statutory obligations of every citizen and businesses in a country. It is thus a major
By Nairametrics Financial Advocates 8 min read
Understanding Minimum Tax

Understanding Minimum Tax

We all look forward to the festive seasons because it brings with it joy, sense of community,
By Abisoye Ayoola 2 min read
Pioneer Status Tax Incentive in Nigeria

Pioneer Status Tax Incentive in Nigeria

Pioneer status tax holiday is an initiative by the Nigerian government designed to encourage the
By Oyindamola Adeosun 1 min read
MSME Tax 101 - What is VAT?

MSME Tax 101 - What is VAT?

Value added tax (VAT) is a compulsory consumption tax charged and payable on the supply of all
By Deloitte Nigeria 5 min read
Who pays for Value Added Tax and Withholding Tax?

Who pays for Value Added Tax and Withholding Tax?

Most small business owners are usually confused about the application of Value Added Tax and
By Nairametrics Financial Advocates 2 min read
All You Need to Know About the FG's New Pioneer Status Tax Incentive

All You Need to Know About the FG's New Pioneer Status Tax Incentive

The Federal Government of Nigeria recently approved twenty-seven (27) new industries for
By Adenike Adeyemi 1 min read
Local Government Taxes for Micro Small and Medium Scale Enterprises

Local Government Taxes for Micro Small and Medium Scale Enterprises

Nigeria is a Federation with Governmental authority distributed along Federal, State and Local
By Deloitte Nigeria 2 min read
Income tax of a Business Name - the nitty gritty (1)

Income tax of a Business Name - the nitty gritty (1)

Small and medium enterprises (SMEs) are the bedrock of every economy. According to the Nigeria
By Deloitte Nigeria 2 min read
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