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What EXACTLY is a Tax Clearance Certificate and why do Companies need it? Perhaps, you are asking… The idea behind this write-up is to show you a practical approach by which you can obtain a Tax Clearance Certificate for your company provided you are transacting business in Nigeria. First, a description of Tax Clearance Certificate. A Tax Clearance Certificate (TCC) as it is popularly called, is a written evidence from the Federal Inland Revenue Service (F.I.R.S) that a company’s tax affairs as at a particular point in time are in order and up-to-date at the time of issuance of the Certificate. It is the responsibility of the Federal Inland Revenue Service (F.I.R.S) to issue a Tax Clearance Certificate after ascertaining that the company’s tax liability (amount owed the Federal Government) has been fully paid and nothing outstanding – where this is established, the TCC should be ready for pick up in four weeks. Attached image is a sample of a Company Tax Clearance Certificate (TCC) issued by the Federal Inland Revenue Service (F.I.R.S). (Sidenote: This information is for educational purposes only. If you're interested in owning one, please, talk to your Accountant or a Tax Consultant) But then it is not as easy as it sounds as there are a couple of intricacies involved before your company can be issued a TCC. In order for your company to be issued a TCC, first, your company would have been issued a TIN (Tax Identification Number) – that means your company would have registered with the F.I.R.S (Federal Inland Revenue Service) as a “taxpayer” to be issued a TIN. How Does A Company Register As A Tax Payer? The whole essence of registering as a tax payer is to show that your company is a responsible and statutorily complaint business entity carrying on business in the country. It is an obligation as required by law and also a forerunner to the issuance of a TIN (Tax Identification Number). So, in order to obtain a TIN, the tax payer will provide a number of information to the tax office (F.I.R.S) in his jurisdiction. For a Limited Liability Company, such will register under the Corporate Registration while an Enterprise (Sole Proprietor) will perfect his registration for T.I.N under the Individual registration at the F.I.R.S office close to his business. (Sidenote: The F.I.R.S does not issue TCC to Sole Proprietors. L.I.R.S (Lagos Internal Revenue Service) does in the case of Lagos State. Please, be clear with that) To register as a Tax Payer, these are the following documents you'll provide: 1. Duly completed application form for TIN. 2. Certificate of Incorporation (for a Limited Liability Company) or Business Name Registration Certificate (for an enterprise) showing clearly the Registration Number (RC No.) in each case. 3. Documents containing the following information: • Address of company, enterprise or business • Principal location of business • Date of commencement of business Once this is done and submitted to the Integrated Tax Office (ITO) in your jurisdiction, you are good to go. Obtaining TIN (Tax Identification Number) is FREE. It doesn’t come at any cost from the FIRS to you except for the consultancy fee paid to the tax consultant you engage to help you process it in the event that you are unable to do it yourself. I hope this helps. To be continued... Chidera ANELE [img][/img]
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If you think that starting your own business is a stroll in the park, then you might be in for a rude shock. A lot of interrelated tasks come into play. Aside from developing good products and having enviable services at your disposal, you still have a responsibility to sell to the market. One of the most essential considerations in running a business is the ability to effectively manage your finances. The numerical language of any business, whether big or small, is accounting. The business space is always loaded with work pressure. There is an unerring need for effective and efficient handling of accounts and finances of a business. Every small & medium size business with a strong prospect for growth need to be organized to achieve success and to do this the business owner must incorporate the appropriate accounting structure. Business units set goals, be it short or long term and to reach those goals, management accounting information is required for planning, decision making and sound strategy formulation. Manually engaging all the accounting work can be troublesome and prone to a lot of errors. Pressure and frustration which can terribly affect the business are just a few of the challenges one will encounter doing it manually. As the owner of a small and growing business, you have to know where funds come from and where it goes. If you decide to do accounting tasks manually, it will undoubtedly consume a great portion of your time, expose you to challenges not budgeted for and the intended purpose for which the accounting information is required will be defeated. So, the smartest way around it is having your business run seamlessly on accounting softwares. Below are some of the benefits you’ll derive using an accounting software 1. You can easily access your business status at the click of a button and at a glance you’ll see the picture of your business – establishing debtors (receivables) position, bank balances without calling your banks’ accounts officer, know when payment is due to vendors, extract financial report of your business and for relevant period 2. You can finish all the accounting tasks promptly. You will be able to manage your growing business without too much hassles 3. You’ll have amazing business tools to make accounting tasks a lot simpler. That way, you can manage all the financial information of the business effectively. 4. Insights that help you make better cashflow decisions for the business. 5. Customised dashboards and management centers so that you stay in the know of what happens in your business 6. Amazing tracking system for inventory thus helping the business bottom line 7. In-depth audit and security functions that helps protect your business in the event of fire outbreak These are just a few of the benefits amongst others that a business owner should derive using an accounting software. Moreso, accounting software usage cuts across all industry where there is an exchange of money – buying and selling taking place. In making a buying decision for an accounting package, there are a couple of variables to consider. One of which you have to determine the software’s functionalities. It should be user-friendly and moreso, it should resemble the paper counterpart so there’s no confusion when the package is finally deployed. Once you’re familiar with the software’s layout, you can easily explore its functionalities. No doubt, there are a couple of accounting softwares sold off the shelf in the market. If your business is making less than N1b in revenue, then Sage 50, formerly known as Peachtree is the best for you. But if your business is churning out N1b and above in revenue, QuickBooks readily comes to mind. In choosing accounting packages, you also need to consider your staff strength. You can find accounting software that is suited for small businesses with less than 25 employees. Some other softwares are suited for large businesses with bigger number of employees. A software that is suited for small businesses helps the business owner analyze financial data, customize reports like transaction history, income statement (profit or loss), statement of financial position (balance sheet) check details, reconciliation details, and many more. by simply looking at the various reports, you can already determine your business status. Some software also offers built-in features like forecasting tools. These tools can be used to manage business risks and control cost of operation. If you’re running a small business, it is time to do your business a whole of favour by engaging accounting software. by doing so, you can secure your business’ future and you can be certain that all your accounting & financial tasks are handled effectively. Feel free to share this piece with your friends. It might just benefit someone. I hope this helps chiderad PS If you don't know how to use an accounting package, please, go for training. An opportunity might just be knocking around the corner for you. |
Where those Cele Prophets and Prophetesses wey dey flog conducting deliverance for people? As in, this dude needs to be taken to the place where dem dey flog am big time. What nonsense is this? The devil is truly wicked. |
Your old man is prying on the fact that you need his "Fatherly Blessing" to explode in life. Be wise. Prayerfully commit everything to God's hand and see what happens thereafter. |
Sage 50 Training Overview Sage 50 Accounts Software training aims to provide the skills for you to be able to supply up to date & accurate information to Management, in the appropriate way for your business. Every business, no matter how large or small, is required by law to ‘maintain books of accounts’. Accountants & Bookkeepers play a vital role within organisations; ensuring records of individual financial transactions are accurate, orderly, up to date and comprehensive. If you are organized and methodical, like working through documents and enjoy seeing a set of numbers add up properly, then Sage 50 (formerly Peachtree) training is for you. Who is this training for? This training is suitable for: 1. CEOs and Business Decision Makers 2. Consultants 3. Accountants in profit or not-for-profit organisations 4. Accounting graduates in search of employment 5. Entrepreneurs who are currently running their own business 6. Organisations that are thinking of changing from a manual accounting system to a computerised accounting system 7. Business owners who deal with small, medium or large stock of goods & items of various types 8. Proprietresses of schools 9. Individuals without an accounting background who need to understand and appreciate how business transactions are recorded, summarized, and interpreted using an accounting package for making intelligent business decisions Sage 50 Training Content – Day 1 An overview of the Sage 50 accounting solution 1. Why use accounting softwares? 2. Practical Installation guide for single and multi-users 3. Entering opening balances, preparing and printing a trial balance 4. Creating a Chart of Accounts or General Ledgers (GL) to suit your organisations requirements 5. Prepare your organizations customers records 6. Prepare your organisations suppliers & vendors records 7. Design ledgers that suits your company’s operations 8. Design inventory database with emphases on stocks with multiple features 9. Design and prepare payroll of your organization 10. Design and prepare different budgets 11. Set up price levels for different customers 12. Learn how to set up VAT on sales 13. Learn to set up Withholding tax on services 14. Backing up & restoring data in the event of system crash Sage 50 Training Content – Day 2 1. Sole Trader Accounts preparation 2. The Trial Balance preparation 3. Errors in the Trial Balance 4. Disputed Items 5. Use of the Journal 6. Prepare and Process Month End Routine 7. Contra Entries 8. VAT Returns 9. Bad Debts and Provision for Doubtful Debts 10. Stock Valuation, Stock Control, Work in Progress and Finished Goods 11. Prepare and Produce Final Accounts 12. Management Information Reports 13. Making Decisions with Reports Using Sage 14. Prepare and Process Year End Accounts and Archive Data 15. Final Accounts for Partnerships including Appropriation Accounts 16. Depreciation 17. Accruals and Prepayments TRAINING FEE Fee per participant is Forty Thousand Naira Only (N40,000) STEP #1 Make your payment in favour of: ACCOUNT NAME: ANELE, CHIDERA DELE BANK : DIAMOND BANK PLC A/C NUMBER: 0001538622 STEP #2 Email us a scanned copy of your payment details to Chidera@KitemarkSolutions.com or info.kitemark@gmail.com In the case of an online transfer or ATM transfer payment, email or sms us your full name, GSM, email, amount paid, payment date, Code: “SAGE 50 TRAINING“. STEP #3 Upon confirmation of your payment, a receipt will be emailed to you with the description of the training venue. Organisations interested in sponsoring their staff (4 and above ) should send their names to the above email address early enough. Here are bonuses you will get in addition: Bonus #1: Three Further ‘Access’ One-On-One Sessions (value – N100,000) After the training day have come and gone. I will still have you covered as in, as a special bonus. I’ll make myself available to you for 3 further access one-on-one sessions that you can redeem any time within two months after the training. Bonus #2: I’ll re-write your CV for you (value – N15,000) I’m constantly sharpening my teeth with respect to the latest CV and Resume writing in the industry. What that means to you is that you’ll have your CV written at no-cost to you by an expert who understands the mindset of an employer/recruiter taking into consideration the important things they want to see ranging from the font, the layout, the presentation etc. Bonus #3: Sage 50 or QuickBooks Training Video (Value – N5,500) You will go home with the Sage 50 or QuickBooks training Video that will be complementary to the live training you’ll receive. This will further reinforce the training and position you as an expert in the shortest time possible. Bonus #4: Certificate of Training will be issued Register Now! Talk to you soon. Regards. Chidera Anele +234 (0)802 318 9838 Chidera@KitemarkSolutions.com CALL/SMS: 0802 318 9838 (Monday to Saturday, 9am – 5pm Only) |
Sage 50 Training Overview Sage 50 Accounts Software training aims to provide the skills for you to be able to supply up to date & accurate information to Management, in the appropriate way for your business. Every business, no matter how large or small, is required by law to ‘maintain books of accounts’. Accountants & Bookkeepers play a vital role within organisations; ensuring records of individual financial transactions are accurate, orderly, up to date and comprehensive. If you are organized and methodical, like working through documents and enjoy seeing a set of numbers add up properly, then Sage 50 (formerly Peachtree) training is for you. Who is this training for? This training is suitable for: 1. CEOs and Business Decision Makers 2. Consultants 3. Accountants in profit or not-for-profit organisations 4. Accounting graduates in search of employment 5. Entrepreneurs who are currently running their own business 6. Organisations that are thinking of changing from a manual accounting system to a computerised accounting system 7. Business owners who deal with small, medium or large stock of goods & items of various types 8. Proprietresses of schools 9. Individuals without an accounting background who need to understand and appreciate how business transactions are recorded, summarized, and interpreted using an accounting package for making intelligent business decisions Sage 50 Training Content – Day 1 An overview of the Sage 50 accounting solution 1. Why use accounting softwares? 2. Practical Installation guide for single and multi-users 3. Entering opening balances, preparing and printing a trial balance 4. Creating a Chart of Accounts or General Ledgers (GL) to suit your organisations requirements 5. Prepare your organizations customers records 6. Prepare your organisations suppliers & vendors records 7. Design ledgers that suits your company’s operations 8. Design inventory database with emphases on stocks with multiple features 9. Design and prepare payroll of your organization 10. Design and prepare different budgets 11. Set up price levels for different customers 12. Learn how to set up VAT on sales 13. Learn to set up Withholding tax on services 14. Backing up & restoring data in the event of system crash Sage 50 Training Content – Day 2 1. Sole Trader Accounts preparation 2. The Trial Balance preparation 3. Errors in the Trial Balance 4. Disputed Items 5. Use of the Journal 6. Prepare and Process Month End Routine 7. Contra Entries 8. VAT Returns 9. Bad Debts and Provision for Doubtful Debts 10. Stock Valuation, Stock Control, Work in Progress and Finished Goods 11. Prepare and Produce Final Accounts 12. Management Information Reports 13. Making Decisions with Reports Using Sage 14. Prepare and Process Year End Accounts and Archive Data 15. Final Accounts for Partnerships including Appropriation Accounts 16. Depreciation 17. Accruals and Prepayments TRAINING FEE Fee per participant is Forty Thousand Naira Only (N40,000) STEP #1 Make your payment in favour of: ACCOUNT NAME: ANELE, CHIDERA DELE BANK : GTBANK PLC DIAMOND BANK PLC A/C NUMBER: 0001538622 0028934933 STEP #2 Email us a scanned copy of your payment details to Chidera@KitemarkSolutions.com or info.kitemark@gmail.com In the case of an online transfer or ATM transfer payment, email or sms us your full name, GSM, email, amount paid, payment date, Code: “SAGE 50 TRAINING“. STEP #3 Upon confirmation of your payment, a receipt will be emailed to you with the description of the training venue. Organisations interested in sponsoring their staff (4 and above ) should send their names to the above email address early enough. Here are bonuses you will get in addition: Bonus #1: Three Further ‘Access’ One-On-One Sessions (value – N100,000) After the training day have come and gone. I will still have you covered as in, as a special bonus. I’ll make myself available to you for 3 further access one-on-one sessions that you can redeem any time within two months after the training. Bonus #2: I’ll re-write your CV for you (value – N15,000) I’m constantly sharpening my teeth with respect to the latest CV and Resume writing in the industry. What that means to you is that you’ll have your CV written at no-cost to you by an expert who understands the mindset of an employer/recruiter taking into consideration the important things they want to see ranging from the font, the layout, the presentation etc. Bonus #3: Sage 50 or QuickBooks Training Video (Value – N5,500) You will go home with the Sage 50 or QuickBooks training Video that will be complementary to the live training you’ll receive. This will further reinforce the training and position you as an expert in the shortest time possible. Bonus #4: Certificate of Training will be issued Register Now! Talk to you soon. Regards. Chidera Anele +234 (0)802 318 9838 Chidera@KitemarkSolutions.com CALL/SMS: 0802 318 9838 (Monday to Saturday, 9am – 5pm Only) |
Sage 50 Training Overview Sage 50 Accounts Software training aims to provide the skills for you to be able to supply up to date & accurate information to Management, in the appropriate way for your business. Every business, no matter how large or small, is required by law to ‘maintain books of accounts’. Accountants & Bookkeepers play a vital role within organisations; ensuring records of individual financial transactions are accurate, orderly, up to date and comprehensive. If you are organized and methodical, like working through documents and enjoy seeing a set of numbers add up properly, then Sage 50 (formerly Peachtree) training is for you. Who is this training for? This training is suitable for: 1. CEOs and Business Decision Makers 2. Consultants 3. Accountants in profit or not-for-profit organisations 4. Accounting graduates in search of employment 5. Entrepreneurs who are currently running their own business 6. Organisations that are thinking of changing from a manual accounting system to a computerised accounting system 7. Business owners who deal with small, medium or large stock of goods & items of various types 8. Proprietresses of schools 9. Individuals without an accounting background who need to understand and appreciate how business transactions are recorded, summarized, and interpreted using an accounting package for making intelligent business decisions Sage 50 Training Content – Day 1 An overview of the Sage 50 accounting solution 1. Why use accounting softwares? 2. Practical Installation guide for single and multi-users 3. Entering opening balances, preparing and printing a trial balance 4. Creating a Chart of Accounts or General Ledgers (GL) to suit your organisations requirements 5. Prepare your organizations customers records 6. Prepare your organisations suppliers & vendors records 7. Design ledgers that suits your company’s operations 8. Design inventory database with emphases on stocks with multiple features 9. Design and prepare payroll of your organization 10. Design and prepare different budgets 11. Set up price levels for different customers 12. Learn how to set up VAT on sales 13. Learn to set up Withholding tax on services 14. Backing up & restoring data in the event of system crash Sage 50 Training Content – Day 2 1. Sole Trader Accounts preparation 2. The Trial Balance preparation 3. Errors in the Trial Balance 4. Disputed Items 5. Use of the Journal 6. Prepare and Process Month End Routine 7. Contra Entries 8. VAT Returns 9. Bad Debts and Provision for Doubtful Debts 10. Stock Valuation, Stock Control, Work in Progress and Finished Goods 11. Prepare and Produce Final Accounts 12. Management Information Reports 13. Making Decisions with Reports Using Sage 14. Prepare and Process Year End Accounts and Archive Data 15. Final Accounts for Partnerships including Appropriation Accounts 16. Depreciation 17. Accruals and Prepayments TRAINING FEE Fee per participant is Forty Thousand Naira Only (N40,000) STEP #1 Make your payment in favour of: ACCOUNT NAME: ANELE, CHIDERA DELE BANK : GTBANK PLC DIAMOND BANK PLC A/C NUMBER: 0001538622 0028934933 STEP #2 Email us a scanned copy of your payment details to Chidera@KitemarkSolutions.com or info.kitemark@gmail.com In the case of an online transfer or ATM transfer payment, email or sms us your full name, GSM, email, amount paid, payment date, Code: “SAGE 50 TRAINING“. STEP #3 Upon confirmation of your payment, a receipt will be emailed to you with the description of the training venue. Organisations interested in sponsoring their staff (4 and above ) should send their names to the above email address early enough. Here are bonuses you will get in addition: Bonus #1: Three Further ‘Access’ One-On-One Sessions (value – N100,000) After the training day have come and gone. I will still have you covered as in, as a special bonus. I’ll make myself available to you for 3 further access one-on-one sessions that you can redeem any time within two months after the training. Bonus #2: I’ll re-write your CV for you (value – N15,000) I’m constantly sharpening my teeth with respect to the latest CV and Resume writing in the industry. What that means to you is that you’ll have your CV written at no-cost to you by an expert who understands the mindset of an employer/recruiter taking into consideration the important things they want to see ranging from the font, the layout, the presentation etc. Bonus #3: Sage 50 or QuickBooks Training Video (Value – N5,500) You will go home with the Sage 50 or QuickBooks training Video that will be complementary to the live training you’ll receive. This will further reinforce the training and position you as an expert in the shortest time possible. Bonus #4: Certificate of Training will be issued Register Now! Talk to you soon. Regards. Chidera Anele +234 (0)802 318 9838 Chidera@KitemarkSolutions.com CALL/SMS: 0802 318 9838 (Monday to Saturday, 9am – 5pm Only) |
newbornmacho:Are you related to Thomas? |
Don't cry for me Argentina |
Someone should please remind him of eternity. Jesus loves him. Repent NOW before it is too late. |
HungerBAD:If he comes to Christ and genuinely repents of his sins, the shed Blood of Jesus will wash away his sins and ultimately the curse placed on him will be broken. No name like Jesus. |
hopefulLandlord:Receive SENSE in Jesus name, amen. |
NorthSide:illiterates not illitrates. Be sure to know your onions before insulting. |
davbravo:The competition is tight. Nobody wan carry last. |
The devil has a way of pushing people into destruction. God created you in a way that best fits but human being no go gree. Sincerely speaking, i don't know what they're trying to achieve with all these crap. |
phayvoursky:Ko ma da fun deity naa ni oruko Jesu Kristi Oluwa wa, Amin! |
peenk:Before spending the money, pay a tithe to your church. It is evident you attend a Bible believing church and also shows you're in the good books of the Lord. He just gave to you seed with which to start off your own business. Use it wisely and see what God will do for you. |
Akshow:When God's grace comes into play, it breaks all the rules. Desire more of His mercy & grace than your qualifications because the race is not to the swift. |
WeNoGoDie:I would rather that you steadfastly intercede on behalf of church leaders moving forward. Your prayers can impact a lot in the spirit realm and pull down strongholds of darkness against God's servants and children. Shalom. |
greatgod2012:If you are from the east, it is not that easy. There's a lot that's attached to it and primarily it is the culture that takes the front bunner. |
The coming of the Lord is near. We all should be prepared. |
They keep sending our youths to hell fire by their actions. The judgement of the Lord will be fearsome. |
I hope she is not an agent of the queen of the coast on an assignment to initiate as many souls into darkness? |
Peroti:God didn't, NOAH did. |
optional1:Na im US embassy recognise for Lagos, Nigeria. |
alizma:In Jesus mighty Name we pray, AMEN! |
Is there no fear of God anymore in the hearts of God's creation? Be ye holy for I AM holy. I expected her to be more decent in her dressing going into the presence of God except, she has another agenda. |
devilson:If the Lord tarries |
shadeyinka:Either ways, whether it is the dollar that is depreciating or it is the naira that is jumping up, what Nigerians are concerned with at this point in time is for the unhealthy pressure that is on us to alleviate. If you think otherwise, SHARE but i'm on the same page with you LIKE. |
Unsad:Myopic! |
kennygee:Who told you they do not offer scholarship to members and non-members alike? How will they keep up with maintenance & overheads? Mind you, the school is not a church project but an institution that operates on sound Christian values. Do you know that right now, the building materials prices have increased by over 300%? People should make proper investigations before posting anything, else one will be acting ignorantly. |
