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Tag: Law

Tax administration in Nigeria 2: Filing & Assessment

Tax administration in Nigeria 2: Filing & Assessment

  Filing annual returns ensures that a business complies with the requirement of the tax laws. It also ensures that a company gets Tax Clearance Certificate (TCC) which is a requirement for government contract bidding in Nigeria. Failure to file annual returns with the FIRS attracts penalties that can become

Tax Administration in Nigeria

Tax Administration in Nigeria

Why is CIT administration important? For one, it ensures that all resident & non-resident companies comply with relevant tax laws & the applicable taxes assessed are collected and used in the country’s development. What is involved in CIT Administration? Companies Income Tax administration involves tax filing & assessment, collection &