I've a LTD liability company registered in September 2014

VAT has been filed every month since July 2015 with remittance slips available.

We have records of all transactions since January 2015 on our cloud Accounting software so income statements and Balance Sheets can easily be generated from that.

Pensions are being remitted for staff as well as PAYE every month.


We have tax clearance from FIRS for 2014 & 2015 (submitted VAT & invoices for 2015 and got this).

Since operations started July 2015 we submitted a letter of commencement then and also would like to use June 30th as our year end going forward.

I would like to pay income tax due for the company so far and would like to know the process.

Please anyone who has done this before?


Thanks.

hi

I would appreciate this information too although mine is an enterprise, how to compute tax for an enterprise. I believe there a lot of small businesses that want to pay tax but don't know how.
Maybe lalasticlala could help

yomalex:
I would appreciate this information too although mine is an enterprise, how to compute tax for an enterprise. I believe there a lot of small businesses that want to pay tax but don't know how.
Maybe lalasticlala could help

Exactly. At Bolded

dannywest:
I've a LTD liability company registered in September 2014

VAT has been filed every month since July 2015 with remittance slips available.

We have records of all transactions since January 2015 on our cloud Accounting software so income statements and Balance Sheets can easily be generated from that.

Pensions are being remitted for staff as well as PAYE every month.


We have tax clearance from FIRS for 2014 & 2015 (submitted VAT & invoices for 2015 and got this).

Since operations started July 2015 we submitted a letter of commencement then and also would like to use June 30th as our year end going forward.

I would like to pay income tax due for the company so far and would like to know the process.

Please anyone who has done this before?


Thanks.

The process is pretty much the same in all the States in Nigeria as CIT and VAT are both federal taxes. First of all you would need an audited accounts for the year ended June 2016. Afterwards a tax computation would he prepared using the commencement rule since you company is still in its first 3 years of operation. After this has been done, the tax computation together with your audited accounts would be submitted with the FIRS office in which you are registered with.

Where there is a taxable profit, payment is made to a the FIRS through any bank in Nigeria. The payment advice or slip should be submitted together with the documents listed above. Where there is no taxable profit (loss)no payment is required.

Also, a self assessment form would be filled and submitted with the other documents stated above.

You can contact me for assistance in preparation of the audited accounts and tax computations and also filing the documents with the FIRS.

I'm a Partner with a tax consulting firm which has done extensive work for local and multinational companies. We also assist startups, small and medium scale businesses with tax compliance and advisory services.

U can send us an email on Info@teaselconsults dot com and I'll send you my phone number and my official email so that we can discuss further.

As a form of CSR, we do pro Bono (free service) work for 2 startups in a year. However we bill for only expenses incurred while doing this which is very minimal.

Hope this has been helpful.

NB: I didn't drop my phone number and official email cos of spam mails and unsolicited text mags . Just send an email to Info@teaselconsults dot com

Jbols2001:


You can contact me for assistance in preparation of the audited accounts and tax computations and also filing the documents with the FIRS.

U can send us an email on Info@teaselconsults dot com and I'll send you my phone number and my official email

Hope this has been helpful.

Just ended a 13 + 6mins call with Jbols2001 on above issue,

All questions answered, All confusion cleared.

Thanks so much!
We'd speak on Monday as promised

.

Audited Accounts received today with filled tax assessment forms. Filing soon as possible. Thanks!

Jbols2001:
NB: I didn't drop my phone number and official email cos of spam mails and unsolicited text mags . Just send an email to Info@teaselconsults dot com