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How Do Freelancers Pay Tax? - Jobs/Vacancies (5) - Nairaland

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An International NGO In Nigeria Is Recruiting 8 Content Freelancers / Pricewaterhousecooper (pwc) Graduate Recruitment 2018 – Assurance & Tax Regulato / Npower Tax. I Received This Message From Npower Tax. (2) (3) (4)

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Re: How Do Freelancers Pay Tax? by lawani: 10:20pm On Dec 16, 2023
Navigator14:


Lol miscreant you don go change profile dey reply yourself, tax collector, imagine paying tax to looters and criminals who are already saturated with looted fund for them to loot more, only a fool gives money to the rich, I'd rather give the less privilege than funds criminals.

If the government want you to pay you will pay.
Re: How Do Freelancers Pay Tax? by skultrick(m): 11:04pm On Dec 16, 2023
anu3:


It's quite saturated so it might take long or not... I use Google, online platforms to search for updates from time to time when I need to. One may send hundreds of applications before getting any reply...

I have never seen a fool like you... How much you dey earn self that's shacking you. Even messi with all the billions dey avoid tax.... Ronaldo dey avoid tax... Nah small rat like you wan spoil market for person.

I so much hate religious fanatics, you guys are cankerworms to the society.

Every month, Google is taking my 80k for just youtube, and you want me to still pay tax to Nigeria government.

God will punish you if you don't shut that your useless mouth. Idiot.

2 Likes

Re: How Do Freelancers Pay Tax? by anu3: 11:21pm On Dec 16, 2023
skultrick:


I have never seen a fool like you... How much you dey earn self that's shacking you. Even messi with all the billions dey avoid tax.... Ronaldo dey avoid tax... Nah small rat like you wan spoil market for person.

I so much hate religious fanatics, you guys are cankerworms to the society.

Every month, Google is taking my 80k for just youtube, and you want me to still pay tax to Nigeria government.

God will punish you if you don't shut that your useless mouth. Idiot.

All right bro...

May Jesus give you and your followers light...
Re: How Do Freelancers Pay Tax? by NaughtyBrainiac: 12:35am On Dec 17, 2023
BoldBrainz:
For a freelancer, you sound like too much of a proper dunce.

For you not to know that almost every item you buy in the nigerian markets is properly taxed and you pay all of it, leaves questions as to how you attained the standard of being referred to as a freelancer..
Why is it that empty Brains like you are always quick to insult people. You insulted op, whereas you are the real dunce. Uneducated fellow like you that doesn't know the difference between VAT and PIT. Shame on you
Re: How Do Freelancers Pay Tax? by HopeGying: 11:09am On Dec 17, 2023
onegig:
See why Nigeria can never move forward. We want overseas treatment and services but not pay the basic requirements of us. See all of them making noise about not paying taxes and skimming it and even calling someone who's asking to do the right thing names.

What makes you different from all the politicians stealing? Because not paying your due taxes is actually stealing. Later they would come here frosting in the mouth and shouting that the country is bad without considering the little efforts they carry out in their own personal spaces that continues to damage the country. Taxes are a requirement as a citizen. If you are making money in Nigeria even though remotely you are required to pay taxes. Yes the services aren't optimal but roads(no matter how bad and limited), security are funded from taxes.

Can't wait for FIRS to sit up and start requiring mandatory tax return filings yearly. Tie NIN to Taxes. If you don't file taxes , you can't get any services from government, can't register kids in school, can't apply for passports, can't get mobile services etc.


@op. What you need to pay is the PAYE and would go to your state of residence. Reach out to your State LIRS.

You can calculate estimates using this app.
https://ng.talent.com/tax-calculator

I have been ignoring similar comments but yours is the dumbest. You think the OP is the only freelancer in Nigeria or a more religious person? What have the politicians done with the taxes collected over the years? Is the tax evasion of Nigerians the problem of our perpetual underdevelopment? Are the masses the problem or the by-product of the perennial comatose state of Nigeria? I suspect that both you and the OP (including your kind here) are either government officials or beneficiary foot soldiers of the incumbent administration. Get out with your stvpid pro-tax campaign.
Re: How Do Freelancers Pay Tax? by Love800(m): 4:00pm On Dec 17, 2023
Hello.
How do i process this foreign school stuff?
Where do i start from?
anu3:
Hello, please could anyone with experience tell me how to full my duties to the government in terms of tax. I've never done it before.

And would I calculate it in dollars or naira; if dollars, will it be in official rate or parallel market rate.

If you know what's right, please let me know.

Thanks.
Re: How Do Freelancers Pay Tax? by anu3: 10:25pm On Dec 17, 2023
Drlumi:
Your taxes would go to your state board of internal revenue. If you are not operating through a registered company (not just a business name but a limited liability company), you should not pay your taxes to FIRS. Doing so would be a waste of your money as you would still not have fulfilled your tax obligation.

Most state boards are purposely opaque so that they can bill you at will. (WOW) They are also careful not to be specific about deductions for allowances and would rather just bill you supposedly based on your total income (I've done all deductions/expenses on my own though).

Your best bet might be to not give them details about earning in fx and stuff like that. If you give them the impression that you have money to throw around, they will bill you as they wish and you would have no option but to pay. Also, for all calculations, use official rates.

Oh, hi bro/sis... Sorry I missed this. Your type of comment was why I asked the question.

In fact, I was beginning to get discouraged when I realized the kind of questions they were asking—which I think were not necessary. I surely don't have money to throw around, and I did give them that impression.


Right, I'm not sure I can trust them, so I told them I would confirm from those with experience first. And that I may or may not come back cos I may prefer firs online. But according to you and all, I guess I'm stuck with them now.

I hope God help me to deal with them in January anyway. I've been planning to relocate due to network struggles and all for months now, maybe I'll prefer a state with active online portal that I can pay from home without trouble . Please, if you know any do recommend.

Thanks a lot...


Cc withx

1 Like

Re: How Do Freelancers Pay Tax? by anu3: 11:22pm On Dec 17, 2023
samuelson06:


Hahaha grin

The thing just the dey vex me. I hate foolish people. They are always a problem.

I think future regrets is even worse, bro... I've had to learn the hard way. Maybe I can wait for others to learn theirs too if...

And if you're still in doubt, please ask my sec. school mates.

God bless...
Re: How Do Freelancers Pay Tax? by Baolak(m): 6:15am On Dec 18, 2023
CHALLENGER:


Well done and good of you Anu.
Can you possible link me up with the freelance opportunity? I'll appreciate your support in this regard.
Thank you.
Good morning Anu3 , i am also interested in the freelancing job, please connect me.

1 Like

Re: How Do Freelancers Pay Tax? by Rubyjade: 7:13am On Dec 18, 2023
anu3:


Oh, hi bro/sis... Sorry I missed this. Your type of comment was why I asked the question.

In fact, I was beginning to get discouraged when I realized the kind of questions they were asking—which I think were not necessary. I surely don't have money to throw around, and I did give them that impression.


Right, I'm not sure I can trust them, so I told them I would confirm from those with experience first. And that I may or may not come back cos I may prefer firs online. But according to you and all, I guess I'm stuck with them now.

I hope God help me to deal with them in January anyway. I've been planning to relocate due to network struggles and all for months now, maybe I'll prefer a state with active online portal that I can pay from home without trouble . Please, if you know any do recommend.

Thanks a lot...


Cc withx
Lagos State Internal Revenue Service and Ogun State Internal Revenue Service
Re: How Do Freelancers Pay Tax? by WithX(m): 7:18am On Dec 18, 2023
anu3:


Oh, hi bro/sis... Sorry I missed this. Your type of comment was why I asked the question.

In fact, I was beginning to get discouraged when I realized the kind of questions they were asking—which I think were not necessary. I surely don't have money to throw around, and I did give them that impression.


Right, I'm not sure I can trust them, so I told them I would confirm from those with experience first. And that I may or may not come back cos I may prefer firs online. But according to you and all, I guess I'm stuck with them now.

I hope God help me to deal with them in January anyway. I've been planning to relocate due to network struggles and all for months now, maybe I'll prefer a state with active online portal that I can pay from home without trouble . Please, if you know any do recommend.

Thanks a lot...


Cc withx


As earlier said, you have noting to fear or worry about, I already suggest what you need to do to cut them off completely while still dealing with them.

You are performing your civic responsibility voluntarily.

Let me make it simple for you

- From your first comment, you have a TIN number, this i am quite sure you got from FIRS (considering you prefer online processes)
- What your partners (those who contract you) may want to see is the evidence that you are not a TAX defaulter. This depend on if you are working solo or you registered as a business.
- For the later you need to show evidence that your business is tax compliant and with that you will need to deal with the FIRS using the TIN you registered earlier. (However, you still need to pay personal income tax as an employee of the company, that will now take you to making PAYE remittance to the state).
- For the former you need to file for Direct Assessment (DA) given that as a freelance you are under the category of Professionals. However, given the current circumstances, you can not do a DA without getting the official involve (as even LIRS that is online do not have the Form A for download on their website) as you will need to a form where you will declare all your earnings).
- However, considering your reservations, for your personal income, you can remit your PAYE, use this calculator https://www.smepayroll.com.ng/calculator/tax or as suggested by @ Onegig. What matters are you are doing it rightly with a clear conscience.
- After calculating what you need to remit, get the service account details and make your remittance. take the teller to their office, they will give you an official receipt. Most state service have dedicated banks with specially designed teller, on the teller you will have option to put your TIN number.

- On relocation, except if it is for some other reasons, it not worth it for the singular reason of income tax. Even if you relocate today, you still need to remit your 2023 income tax to the state you are presently as long as you stayed there for at least 183 days.

2 Likes

Re: How Do Freelancers Pay Tax? by WithX(m): 7:30am On Dec 18, 2023
skultrick:


I have never seen a fool like you... How much you dey earn self that's shacking you. Even messi with all the billions dey avoid tax.... Ronaldo dey avoid tax... Nah small rat like you wan spoil market for person.

I so much hate religious fanatics, you guys are cankerworms to the society.

Every month, Google is taking my 80k for just youtube, and you want me to still pay tax to Nigeria government.

God will punish you if you don't shut that your useless mouth. Idiot.

Bros, you really do not need the bolded to make your point.
Everyone is entitle to his or her opinion and one can do that without being insulative or using derogative words. We can all be civil you know cool.

Back to the topic, there is what we call tax avoidance and tax evasion,
Evasion is the one that is seen as a criminal act and punishable by law, Avoidance is looking at the loopholes in the tax law and taking advantage of it which is not a criminal offence.

For you to be comfortable with Google taking your 80k monthly and remitting same to the US government to better the life of the US citizen and so not willing to perform your civic responsibilities in the state of residence for the betterment of the citizens there speak volume sir.
I tell you sir if Google can take 80k as tax, what you need to pay to fulfil your civic responsibility will be only a fraction of that amount.

1 Like 1 Share

Re: How Do Freelancers Pay Tax? by samuelson06(m): 8:18am On Dec 18, 2023
anu3:


I think future regrets is even worse, bro... I've had to learn the hard way. Maybe I can wait for others to learn theirs too if...

And if you're still in doubt, please ask my sec. school mates.

God bless...

I should ask your secondary school mates abi? What's happening to them and where can I find them? You see why I said there's something wrong abi?

This so-called freelancing earnings that you desperately want to pay tax for, if someone says teach me let me also better my lot, I can bet you won't do it.

Leave this religious extremism. It won't take you anywhere.
Re: How Do Freelancers Pay Tax? by anu3: 8:29am On Dec 18, 2023
samuelson06:


I should ask your secondary school mates abi? What's happening to them and where can I find them? You see why I said there's something wrong abi?

This so-called freelancing earnings that you desperately want to pay tax for, if someone says teach me let me also better my lot, I can bet you won't do it.

Leave this religious extremism. It won't take you anywhere.

Hmm... What do you know about me, bro... What if you're wrong...

They will tell you I was once a spoilt bad boy, and my life now is by God's mercy... Maybe that's what inspired my name from birth.

Anyway do whatever pleases you—everyone to their business.

God bless.
Re: How Do Freelancers Pay Tax? by anu3: 8:45am On Dec 18, 2023
WithX:



As earlier said, you have noting to fear or worry about, I already suggest what you need to do to cut them off completely while still dealing with them.

You are performing your civic responsibility voluntarily.

Let me make it simple for you

- From your first comment, you have a TIN number, this i am quite sure you got from FIRS (considering you prefer online processes)
- What your partners (those who contract you) may want to see is the evidence that you are not a TAX defaulter. This depend on if you are working solo or you registered as a business.
- For the later you need to show evidence that your business is tax compliant and with that you will need to deal with the FIRS using the TIN you registered earlier. (However, you still need to pay personal income tax as an employee of the company, that will now take you to making PAYE remittance to the state).
- For the former you need to file for Direct Assessment (DA) given that as a freelance you are under the category of Professionals. However, given the current circumstances, you can not do a DA without getting the official involve (as even LIRS that is online do not have the Form A for download on their website) as you will need to a form where you will declare all your earnings).
- However, considering your reservations, for your personal income, you can remit your PAYE, use this calculator https://www.smepayroll.com.ng/calculator/tax or as suggested by @ Onegig. What matters are you are doing it rightly with a clear conscience.
- After calculating what you need to remit, get the service account details and make your remittance. take the teller to their office, they will give you an official receipt. Most state service have dedicated banks with specially designed teller, on the teller you will have option to put your TIN number.

- On relocation, except if it is for some other reasons, it not worth it for the singular reason of income tax. Even if you relocate today, you still need to remit your 2023 income tax to the state you are presently as long as you stayed there for at least 183 days.

Oh, thanks you very much sir... I got the TIN from the state board earlier this year due to a job offer. I've not contacted firs in any case.

Ok, now I understand I've got no business with firs as a self employed (working solo).

I'll try to do as you said in Jan. I think the percentage is around 7 -12% from the samples I saw (200k = 14k; 3m = 350k).

About relocation, yes, I have other reasons. I seem to always struggle with mobile networks, no other options, that's why it maybe worth it... Some said Lagos and Ogun. Maybe Ogun is possible for me.

Thanks for taking your time...

God bless
Re: How Do Freelancers Pay Tax? by anu3: 8:57am On Dec 18, 2023
Rubyjade:
Lagos State Internal Revenue Service and Ogun State Internal Revenue Service


Oh, many thanks...

1 Like

Re: How Do Freelancers Pay Tax? by anu3: 10:02am On Dec 18, 2023
Baolak
CHALLENGER


Well done and good of you Anu.
Can you possible link me up with the freelance opportunity? I'll appreciate your support in this regard.
Thank you.
Good morning Anu3 , i am also interested in the freelancing job, please connect me


Well, I don't think I have any link or connection at the moment. And even at those times when I thought I had, I almost regretted trying to help due to how things went.

But I think freelancing is just about relevant skills that one has or willing to learn and master. Mine is teaching. I've done a bit writing/proofreading too, but it's not as interesting to me...

In teaching, I think if one has good knowledge of in-demand subjects like English, maths, science/ict/languages, etc, and his willing to learn online teaching skills for awhile, then it's possible by God's grace. God's grace because the market is saturated and highly competitive. And my case was a miracle cos I had already given up after trying a few years. One could send hundreds of applications with a few to no replies at all.

Some don't even want to hear anything Africa/Nigeria. Some may change their minds, though, if they see you're genuine and serious.

If one's goal is money, then it's might even be more difficult. But if your aim is to be a problem solver with genuine interest, then you can slowly but surely make progress like in my case.

I only started teaching for free to keep busy while studying edu. at uni. back then. Later graduated to private school teaching and lessons... The pay was very poor, but I kept doing it with interest — I think I appeared foolish to many for taking the work seriously. Like when I served I used to behave like a regular teacher, and my colleagues made fun of me because I was too foolish...

But what I gained from those years of deliberate foolishness is experience, which I think some employers are willing to pay for.

Others may not take that long, but I think putting God first matters. After a serious life situation that almost took my life years ago and Jesus saved and changed me, I'm no longer willing to take money and people's opinions too seriously as I used to. But to use them wisely and always seek grace to continue—cos it's not easy, I must confess.


God bless.

1 Like

Re: How Do Freelancers Pay Tax? by samuelson06(m): 10:49am On Dec 18, 2023
anu3:


Hmm... What do you know about me, bro... What if you're wrong...

They will tell you I was once a spoilt bad boy, and my life now is by God's mercy... Maybe that's what inspired my name from birth.

Anyway do whatever pleases you—everyone to their business.

God bless.


Well, I'm here. Prove me wrong. Teach me to also earn like you, and I can leave you with one promise: to pay tax on every cent I earn online as a result of your teachings.
Re: How Do Freelancers Pay Tax? by anu3: 11:05am On Dec 18, 2023
samuelson06:


Well, I'm here. Prove me wrong. Teach me to also earn like you, and I can leave you with one promise: to pay tax on every cent I earn online as a result of your teachings.


Well, ok bro... Check a reply of mine just above. If you try to digest that and relevant replies through my profile, you might be able to think/find an area of interest. Cos not everyone likes or has passion for teaching.

Once you find a good and legitimate area, then start buying small data to learn: google/YouTube/Facebook, etc. Though my concern is things don't always work for people alike. That's why I think God has to come in first.

Cos even having skills, experience and all don't seem to be enough sometimes...
Re: How Do Freelancers Pay Tax? by samuelson06(m): 11:41am On Dec 18, 2023
anu3:



Well, ok bro... Check a reply of mine just above. If you try to digest that and relevant replies through my profile, you might be able to think/find an area of interest. Cos not everyone likes or has passion for teaching.

Once you find a good and legitimate area, then [b]start buying small data to learn: google/YouTube/Facebook, etc. [/b]Though my concern is things don't always work for people alike. That's why I think God has to come in first.

Cos even having skills, experience and all don't seem to be enough sometimes...

Learn what exactly? What platforms can I go to find jobs? By the way, I'm a child of grace. So, this is also going to work for me if you guide me right.
Re: How Do Freelancers Pay Tax? by anu3: 1:57pm On Dec 18, 2023
samuelson06:


Learn what exactly? What platforms can I go to find jobs? By the way, I'm a child of grace. So, this is also going to work for me if you guide me right.

There are a number of them. Just do a google search: what freelancing jobs can I do?.

You see, I'm not a freelance expert or mentorship professional or something. But my in line of interest, you must have good English knowledge, teaching skills and pronunciations—like you imitate a foreign accent.. Next, the right equipment/resources like good internet and stable electricity.

If you have all these above ready, then maybe in 3 - 6 months of searching you can start getting something, if it's surely your calling. But honestly, there's no guarantee, as I even gave up searching a few times out of disappointment...

1 Like

Re: How Do Freelancers Pay Tax? by Baolak(m): 3:04pm On Dec 18, 2023
anu3:
Baolak
CHALLENGER





Well, I don't think I have any link or connection at the moment. And even at those times when I thought I had, I almost regretted trying to help due to how things went.

But I think freelancing is just about relevant skills that one has or willing to learn and master. Mine is teaching. I've done a bit writing/proofreading too, but it's not as interesting to me...

In teaching, I think if one has good knowledge of in-demand subjects like English, maths, science/ict/languages, etc, and his willing to learn online teaching skills for awhile, then it's possible by God's grace. God's grace because the market is saturated and highly competitive. And my case was a miracle cos I had already given up after trying a few years. One could send hundreds of applications with a few to no replies at all.

Some don't even want to hear anything Africa/Nigeria. Some may change their minds, though, if they see you're genuine and serious.

If one's goal is money, then it's might even be more difficult. But if your aim is to be a problem solver with genuine interest, then you can slowly but surely make progress like in my case.

I only started teaching for free to keep busy while studying edu. at uni. back then. Later graduated to private school teaching and lessons... The pay was very poor, but I kept doing it with interest — I think I appeared foolish to many for taking the work seriously. Like when I served I used to behave like a regular teacher, and my colleagues made fun of me because I was too foolish...

But what I gained from those years of deliberate foolishness is experience, which I think some employers are willing to pay for.

Others may not take that long, but I think putting God first matters. After a serious life situation that almost took my life years ago and Jesus saved and changed me, I'm no longer willing to take money and people's opinions too seriously as I used to. But to use them wisely and always seek grace to continue—cos it's not easy, I must confess.


God bless.

God bless you abundantly bro, you really passed through alot of life changing process.
Please don't be offended, i have some questions...
Is the freelancing job online based?
Is it only based on school/academics openings?
Am i to search for online freelancing jobs on Google to start with?
More blessings sir! 🙏🏾
Re: How Do Freelancers Pay Tax? by papyjaypaul: 4:03pm On Dec 18, 2023
anu3:


Don't worry bro... Do what pays you. But I promise it pays much better to do right—my experience for 13 years. Even if government chooses to do evil, it doesn't make them qualify to be my role models.

And you know taxing is already on some major online platforms—I think they are the ones to make it well-known...

In the end, each one will receive what they deserve: government or civilian...
I love your thinking. Ignore them. You have shown to be a highly principled person, that is one of the elements of the successful people. They are focused on their values more than anything else.

Anu3, you will see aanu x3 and more. Anunimorigba

1 Like

Re: How Do Freelancers Pay Tax? by papyjaypaul: 4:43pm On Dec 18, 2023
anu3:


Well, I wasn't comfortable with the way a tax worker was not willing to share details of the portal/remita or something I could use by myself. Quite insisting to help where I wasn't willing to be helped. And I should just bring the cash when it's time.

So I left there leaving their form behind, as January is the actual time. And felt like trying firs online instead. Someone was also saying I would pay for "development fees". So maybe they thought I was there looking for an opportunity to waste money. Cos once you say you do online stuff, it seems to many like it's Yahoo.

I will try again in January, and maybe walk straight to the head office where I registered, and if they're not ready to show me the right link, they can call me when they're ready. Or I'll check Firs online...

Thanks

This is why I recommended a Chartered Accountant to help you handle your taxes. The corruption can be irritating but the accountant will know what to do. You can also do it yourself but make sure you get receipts. These govt officials steal from their government just as police, immigration and customs do.

1 Like

Re: How Do Freelancers Pay Tax? by WithX(m): 5:20pm On Dec 18, 2023
anu3:


Oh, thanks you very much sir... I got the TIN from the state board earlier this year due to a job offer. I've not contacted firs in any case.

Ok, now I understand I've got no business with firs as a self employed (working solo).

I'll try to do as you said in Jan. I think the percentage is around 7 -12% from the samples I saw (200k = 14k; 3m = 350k).

About relocation, yes, I have other reasons. I seem to always struggle with mobile networks, no other options, that's why it maybe worth it... Some said Lagos and Ogun. Maybe Ogun is possible for me.

Thanks for taking your time...

God bless



Ok, it is now clear that you have to deal with the State inland revenue board.


@ the bolded, except you are talking of Direct Assessment, for PAYE, it is progressive.

if you want to calculate it yourself,
- you sum up what you get per annum,
- Deduct Consolidated Relief of N200,000 plus 20% of Earned Income
- If you have any pension, life assurance or you pay for NHF, you deduct that too.
- After deducting all the above, then you are left with the taxable income.
- You now apply the tax rate:
First 300,000 7%
Next 300,000 11%
Next 500,000 15%
Next 500,000 19%
Next 1,600,000 21%
Above 3,200,000 24%

for example, if your taxable income after deducting the relieve and allowance amount to 700k, you apply 7% on the first 300k, 11% on the next 300k, then the remaining 100k [700 - (300+300)] will be tax at 15%........

NB: The Direct Assessment would be more appropriate as a freelance, but given the scenario you found yourself and the skepticisms you have, you can go with the above and fulfil your civic responsibility without anyone ripping you off.

2 Likes

Re: How Do Freelancers Pay Tax? by anu3: 12:34pm On Dec 21, 2023
WithX:



Ok, it is now clear that you have to deal with the State inland revenue board.


@ the bolded, except you are talking of Direct Assessment, for PAYE, it is progressive.

if you want to calculate it yourself,
- you sum up what you get per annum,
- Deduct Consolidated Relief of N200,000 plus 20% of Earned Income
- If you have any pension, life assurance or you pay for NHF, you deduct that too.
- After deducting all the above, then you are left with the taxable income.
- You now apply the tax rate:
First 300,000 7%
Next 300,000 11%
Next 500,000 15%
Next 500,000 19%
Next 1,600,000 21%
Above 3,200,000 24%


for example, if your taxable income after deducting the relieve and allowance amount to 700k, you apply 7% on the first 300k, 11% on the next 300k, then the remaining 100k [700 - (300+300)] will be tax at 15%........

NB: The Direct Assessment would be more appropriate as a freelance, but given the scenario you found yourself and the skepticisms you have, you can go with the above and fulfil your civic responsibility without anyone ripping you off.


Oh, thank you so much for the detailed info. sir.... When I go back in January I'll tell them I've spoken with experts and I only need the form/service account details to pay by myself.

Please, about deductions, I was only aware of expenses/cost of operations through the year (like data, equipment bought, etc) which you didn't mention. Or is it part of what you called consolidated relief or you forgot to mention expenses?

In fact, first time I've heard of consolidated relief, thanks—so now I understand it to mean I'll deduct 200k + 20% of the taxable sum.

Phew... The tax workers only focused on my source of income, the sum and bringing cash to them which I wasn't eager to do. Nothing about deductions...

1 Like

Re: How Do Freelancers Pay Tax? by ghostcenturion(m): 5:41pm On Dec 21, 2023
Meerahbel:
They have access to the backend, the reason they are requesting for BVN and NIN by CBN, be careful 😉 because there's no hiding place.
i'm well aware of that as i actually worked on those systems, reason i had to do mine.

i was doing it as a test and couldnt change after saving, so in time i'll probably get an invite one day where they'll do it themselves.

1 Like

Re: How Do Freelancers Pay Tax? by WithX(m): 8:57pm On Dec 21, 2023
anu3:


Oh, thank you so much for the detailed info. sir.... When I go back in January I'll tell them I've spoken with experts and I only need the form/service account details to pay by myself.

Please, about deductions, I was only aware of expenses/cost of operations through the year (like data, equipment bought, etc) which you didn't mention. Or is it part of what you called consolidated relief or you forgot to mention expenses?

In fact, first time I've heard of consolidated relief, thanks—so now I understand it to mean I'll deduct 200k + 20% of the taxable sum.

Phew... The tax workers only focused on my source of income, the sum and bringing cash to them which I wasn't eager to do. Nothing about deductions...



Yes i did not mention that because it is expected that you would have taken that into consideration as they are expenses you incurred in getting the income, so it is expected that you will need to deduct those to know what your income is.

Again do note that the consolidated allowance is used when you are going the PAYE route. You are allowed the consolidated allowance as a relieve on your income.

For DA, you will need fill the form A to determine your taxable income
Re: How Do Freelancers Pay Tax? by anu3: 9:31pm On Dec 21, 2023
WithX:


Yes i did not mention that because it is expected that you would have taken that into consideration as they are expenses you incurred in getting the income, so it is expected that you will need to deduct those to know what your income is.

Again do note that the consolidated allowance is used when you are going the PAYE route. You are allowed the consolidated allowance as a relieve on your income.

For DA, you will need fill the form A to determine your taxable income

Oh, I see... Thank you very much. I'll try the process in a few weeks time, God willing...

1 Like

Re: How Do Freelancers Pay Tax? by IyaTola: 5:31pm On Dec 22, 2023
wink
anu3:


Oh, I see... Thank you very much. I'll try the process in a few weeks time, God willing...
Re: How Do Freelancers Pay Tax? by Meerahbel: 5:35pm On Dec 22, 2023
ghostcenturion:
i'm well aware of that as i actually worked on those systems, reason i had to do mine.

i was doing it as a test and couldnt change after saving, so in time i'll probably get an invite one day where they'll do it themselves.
Which system? Kindly clarify

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