Trustedpro:
You are only required to pay 7.5% of your net profit when your company turnover 20million naira annually. I think you will be asked to pay a token for your annual audited account if you are not making such turnover.

ascek:

Thank you bro. This token you talk about, will the government decide it for me or I am to use my discretion?

dedons:
You are to ensure you deduct all expenses and pay only 7.5% of the profit for the year. It could be lesser depending on how well you can play your game.

Mide3367:
As a complete company, what are the various tax one pay to government? Who can help me summarise tat? I run a company Hollyway Global Investment. It has a corporate acct but I haven't paid any government levi at all

famouscargo4u:


You pay 7.5% VAT on supplies which is due in 21 days . You pay 20% for a small company on your profit within 6 months after your accounting year and 30% for a big company

famouscargo4u:


You pay 7.5% VAT on supplies which is due in 21 days . You pay 20% for a small company on your profit within 6 months after your accounting year and 30% for a big company

Pandev:
Hey, Okada, carry me go la.las.ticl.ala house, this must enter fp and you go carry me back to this thread. How much?

Mide3367:
As a complete company, what are the various tax one pay to government? Who can help me summarise tat? I run a company Hollyway Global Investment. It has a corporate acct but I haven't paid any government levi at all

ascek:


I'm confused now. So apart from the 7.5% tax on profit, there's a 7.5% on vat and another 20% every 6 months. Really it's complicated and will wonder how much will be left for the owner of the company

ascek:


I'm confused now. So apart from the 7.5% tax on profit, there's a 7.5% on vat and another 20% every 6 months. Really it's complicated and will wonder how much will be left for the owner of the company

famouscargo4u:
No, you don't pay any 7.5% on profit, it is paid to your suppliers quoted on the invoice for goods supplied to you. Thereafter, you pay your normal tax for the year which maybr 20 or 30% on profit depending on size of your company. You will also charge Witholding Tax of 5 or 10% from your suppliers which will deducted from your tax payable for the year. It may be confusing to you, why not let us prepare this for you at a token.

ascek:
For a business man who owns a bnx Nig Ltd., Assuming he has a starting capital of 2,000,000 in naira and at the end of the financial year he makes 500,000 in naira after paying salaries for himself and workers and every other things. How much of this 500,000 will government charge as tax and how is it calculated? Thanks as you provide answers

ascek:


I'm confused now. So apart from the 7.5% tax on profit, there's a 7.5% on vat and another 20% every 6 months. Really it's complicated and will wonder how much will be left for the owner of the company

ascek:

What's the cost of hiring an auditor?

ascek:
For a business man who owns a bnx Nig Ltd., Assuming he has a starting capital of 2,000,000 in naira and at the end of the financial year he makes 500,000 in naira after paying salaries for himself and workers and every other things. How much of this 500,000 will government charge as tax and how is it calculated? Thanks as you provide answers