A Value Added Tax is a type of consumption tax that is levied on products on every point of sale where value has been added to the product. It starts from the raw material stage to the final point of sale stage where it is bought by the consumer.

Consumption tax is simply defined as a tax levied on the purchase of goods and services. Every seller in the production chain charges a VAT charge to the buyer, which is then remitted to the government. The amount of VAT tax levied at each point of sale along the chain of production is based on the value added by the seller.

This is provided for by the Value Added Tax Decree 102 of 1993 but it actually became effective in 1994. Value Added Tax is charged 5% on all VATable goods and services.The VAT decree requires manufacturers, wholesalers, importers and suppliers of VATable goods and services to be registered within six months of commencement of business. VAT is administered by the Federal Inland Revenue Services through its VAT directorate with offices in almost all the local government areas in the country.

Who are those that should pay VAT?

A VATable person is one that deals in VATable goods and services. Example of such include:

• A limited liability company e.g. Tunde Limited
• A firm e.g. Law & Co.
• A sole trader e.g. Emeka & Brothers
• An individual e.g. Lawal shops
• A Club or society e.g. Gbaja Social Club

When you registered and become a VAT payer, 5% of the money your customers pay for your goods and services is called the OUTPUT VAT

On the other hand when you purchase any goods and services, 5% of the money you pay is called your INPUT VAT.

To then calculate the amount that goes to the government, you have to subtract your INPUT VAT from the OUTPUT VAT

This means; Total VAT payable to the government = Output VAT – Input VAT

Calculating VAT

E.g. 1

In 2001, a phone manufacturer sold a phone to a final consumer for N250,000. The raw materials for this phone was bought at N100,000. Find the

(i) Output VAT
(ii) Input VAT
(iii) Total VAT payable to the government

Solution

Output VAT = The 5%VAT you charge on goods and services you supply or sell

Input VAT = The 5% VAT you pay on goods and services that you use.

Since the manufacturer of the product sold the product for N250,000, the 5% of the 250,000 Naira is the output VAT. (This is constant because we assume that 5% VAT is always added on every goods and services sold).

Output VAT = 5% of 250,000 Naira

Output VAT = 12,500 Naira.

While…

Since the manufacturer spent 100,000 Naira to buy the raw materials, 5% of that amount is called the input VAT.

Input VAT = 5% of 100,000 Naira

Input VAT = 5000 Naira.

The total VAT payable = Output VAT – Input VAT

Total VAT payable = 12,500 – 5000

Total VAT payable = 7500 Naira.

E.g. 2

Mr Jide’s total sales for the month of April were recorded at 400,000 Naira. But he spent 200,000 Naira on purchases for his company. Calculate the total payable VAT he should pay to the government.

Solution

Output VAT = 5% of his sales

Output VAT = 5% of 400,000 Naira

Output VAT = 20,000 Naira.

While…

Input VAT = 5% of his purchases

Input VAT = 5% of 200,000 Naira

Input VAT = 10,000 Naira.

Therefore…

Total VAT payable to the government becomes;

Output VAT – Input VAT

Total VAT Payable

= 20,000 – 10,000
= 10,000 Naira

This amount is payable where the output tax exceeds the input tax. In a situation where the input tax exceeds the output tax, the deficit can be claimed by the refund.

There are three ways to claim your refund:

1. The credit method
2. Direct cash refund method and
3. A combination of the two.

The application of the credit method is the most widely used because of the difficulty that may be encountered with cash refunds.

GOODS EXEMPTED FROM VAT

Certain goods and services are not VATable. The implication is that VAT charges are not applicable to it. On the other hand, certain goods and services are considered zero rates. This implies that the goods are VATable, but the application is zero percent.

Example of Goods exempted from VAT

• Medical and pharmaceutical products
• Basic food items
• Books and educational materials
• Baby products
• Commercial vehicles and their spare parts
• Agricultural equipment and products and vertinary medicine.
• Fertilizers, farming machinery and farming transportation equipment
• All exports
• Plants and machinery used in export processing zone
• Plant, machinery and equipment purchased for utilization of gas in downstream petroleum operations
• Tractors, ploughs, agricultural equipment and implements purchased for agricultural purposes.

Services Exempted From VAT

• Services of Community Banks, People banks and primary mortage institutions.
• Plays and performances conducted by educational institutions as part of learning
• Services related to education
• Medical services
• All exported services

Form in use by the Tax Payer

The following forms are in use by the tax payers

1. Form VAT 001
2. Form VAT 002

Form VAT 001 – VAT Registration Form

This is the standard registration form for VAT. It is supposed to be completed by a potential VAT payer within six months of the commencement of business.

VAT Form 001 usually contains the following information:

• The name of the taxpayer
• The principal place of business of the taxpayer
• Other branches or units where business is carried on
• The date of incorporation of business
• The date of commencement of business
• The registration number of the business
• The nature of business
• Types of goods/services dealt in
• The local VAT office where registration is sought
• The name and designation of a principal officer of the business
• The date application is filled.

The application must also bear the official stamp of the business, a formal written application for registration on the business letter-headed paper as well as the signature of the principal officer. A copy of the registration certificate must be attached but the original would be presented for sighting.

FORM VAT 002 - Value Added Tax Returns

This is the standard value added Tax returns to be filled every month. A typical form 002 contains the following information.

• VAT identification number
• Name and address of the VAT payer
• The local VAT office where the return is being filled
• The month for which return is related
• Total VATable supplied made
• The zero-rated supplied included in the VATable supplies
• The total supplied subjected to VAT
• VAT charged
• Any adjustments
• Total tax output
• VAT on domesticated supplies received
• VAT adjustments on supplies received
• VAT on import
• Total VAT payable
• VAT on purchases not wholly used to be backed out of total VAT payable
• VAT taken at source, also to be backed out of VAT payable
• Total input tax
• Amount payable or refundable
• A declaration by an official of the taxpayer that the particulars in the returns are true and correct.

About Nairasum

We are a firm of qualified accountants who specialize in providing affordable bookkeeping and accounting services to small and medium-sized companies in Nigeria. Learn more about us at www.nairasum.com

Merry Christmas.

Thanks.

You're welcome.

murchurat:
Thanks.

Great Jobs......Hoping to leverage your service on any of our loan application and government contracts.

Haaa oga accountant how can you deduct 5percent vat on expenses. What type of expenses is that overhead expenses, administrative i.e salaries and wages or distribution. VAT can only be deducted on sales and purchases . We have vat inclusive and vat exclusive .

Gomez Corporate Consult LTD, your one-stop corporate firm (with certified CAC accreditation, IPON Accreditation, Tax Consultants, NAFDAC Agents, Corporate Consultancy etc).

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations).

Some of our services at affordable cost:

Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

Happy New Year Nairalanders, the year 2018 was a remarkable year as we were able to assist quite a number of company promoters, proprietors, directors & trustees.
Gomez Corporate Consult LTD as a corporate firm will like to appreciate you all for your patronage and services handed over to our care.
Generally, over more than 100 companies (Business Name, Private Limited Companies, NGOs) was registered in the year 2018.
We are your one-stop corporate firm (with certified CAC accreditation, IPON Accreditation, Tax Consultants, NAFDAC Agents, Corporate Consultancy etc).

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

The proposed company name “POJALA INTERNATIONAL SERVICES LTD” was reserved on Tuesday and today Thursday the proposed is now a fully registered legal person.

Just within 3 days, a proposed name became registered. No story, everything sharp sharp!!! Contact us on 08107804290, mail us on info@gomezconsult.com or visit www.gomezconsult.com.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

It is officially registered. TRANSPARENT ENERGY GROUP LIMITED is now a registered group of companies.
Do you desire same, free feel to contact us on 08107804290/ 08102794272, mail info@gomezconsult.com or visit www.gomezconsult.com.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

ANIDOT-PLUS NIGERIA LTD commenced its registration process on 7th January 2019, it was officially registered as a legal person on 14th January 2019. Making 5-7 days promise a reality. Do you desire same, free feel to contact us on 08107804290/ 08102794272, mail info@gomezconsult.com or visit www.gomezconsult.com.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

She called all the way from AWKA, ANAMBRA never saw us in person but she believe we could assist her register FREDRICK NWANKWO NWEKE FOUNDATION.

It actually became a reality after 29 days (inclusive of the mandatory 28 days for public notice).
What are you waiting for? Contact us via 08107804290, or mail info@gomezconsult.com or visit


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

The director of CROWNPILLS PHARMACEUTICALS LTD said, “O Wow! This is Magic”. Now, what is the magic The magic is when a Private Limited Company is commenced and incorporated within two days (that is, from name reservation to certification).

Why not contact Gomez Corporate Consult LTD today. Call/Whatsapp: 08107804290/08102794272, mail info@gomezconsult.com or visit www.gomezconsult.com.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

According to several statistics Nigeria still remains the economic hub of Africa. Are you a foreigner who is interested in running an investment company in Nigeria?
Have you heard of the necessary requirements for a Foreign Company in Nigeria (like Expatriate Quotas, CERPAC e.t.c.)
Why not contact us like AFRICAN VOICES DUBBING COMPANY LTD. All services are affordable and time conscious
Contact us on 08107804290/ 08102794272, mail info@gomezconsult.com or visit www.gomezconsult.com.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Are you interested in registering a NGO, Foundation, CSO, Club, Church, Initiative, Association? Why not be like the TRUSTEES OF THE INITIATIVE FOR NOT TOO YOUNG AWARENESS.
We will guide & assisting you in achieving your proposed NGO within 29 days (inclusive of 28 days for public notice)
Do you desire same, free feel to contact us on 08107804290/ 08102794272, mail info@gomezconsult.com or visit www.gomezconsult.com.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N20,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing company registrations are also inclusive.

Going to schools & acquiring certificates is good, but what is better is to convert the acquired knowledge & skills to essential services & commodities to best oneself & mankind in general.

Why not turn your skills to a company, be like ACCOUNTING WIZARDS. Contact 08107804290/ 08102794272 or mail info@gomezconsult.com today.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Others ongoing jobs are also inclusive.

Everything in life is all about ones mindset. I know you have a idea or business you are running or about to operate, why not lets partner with you & turn it into a brand or a company. Contact us like AFRITRANS MANAGEMENT & let’s start building today. Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

We treat our entire client’s company application with utmost professionalism. We give all customers top priority and make sure they get the best of service delivery.

Congratulations to the management of RHYOID NIGERIA LIMITED.

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).
Some company certificates we got out this week.

In Gomez Corporate Consult LTD, we got the gracious magic touch. A client tried to reserve a name but got denied, later the client decided to try out our services. Boom!!! The same name (TRAVEL NUGGETS LIMITED) that was denied by the CAC (Commission) was actually approved.

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

The attachments contain some images of some corporate registrations concluded this week.

Our mission is to serve as a corporate guide to all SMEs & emerging company promoters using our company registration, intellectual properties, taxation, post-incorporation & specialized registration services model at an affordable & time-bound process.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

3 days ago, a lady called us to assist her register a proposed company name & she gave us two names. However, CAC (Commission) deemed fit HOUSE OF LAMMY & approved it that day (Tuesday). Our professionals immediately acted and yesterday (Wednesday) we got this. In Gomez Corporate Consult LTD, every company promoter’s registration is deem important & essential. Contact us for your 2 days corporate registration & it’s cheaper.
We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

As a corporate firm, Gomez Corporate Consult LTD do not just assist clients & company promoters to get their companies registered with Commission (CAC). We move a step further by helping with tax registrations, filings and ensure that all companies within our domain can have all the necessary documents to open a corporate bank account.
We also prompt them on the need to comply to all their statutory duties with the different Revenue bodies.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

Trademarks are symbol, images, barcode, designs or words legally registered or established by use as representing a company or product.
Gomez Corporate Consult LTD as an accredited firm have assisted several companies to register their MARK with the Commercial Law Department, Ministry of Trade, Investment & Commerce.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations).

Some of our services at affordable cost:

Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).

Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

Some applications commence this week

Do you have an existing company that you want to reconstruct? Do you know that there are legal requirements for removing or appointing or replacing a director in a registered company?
Do you know Gomez Corporate Consult LTD is a registered accredited agent with the CAC? Do you also know that we can help you facilitate any post incorporation or reconstruction within 5-7 working days?

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

SAJIDAS LTD is a newly registered company, inline with the objectives of the company promoter to apply or get a corporate bank account. Gomez Corporate Consult LTD not only assisted in registering the company, we move further in applying for the TIN (Tax Identification Number) for the newly registered company and got the VAT letter as an acknowledgement.
Are you thinking of owning or operating a corporate or company account, why not give us a call today on 08107804290 or info@gomezconsult.com or visitwww.gomezconsult.com for questions or inquiries now.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion).
Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

Some applications commence this week

8 days to go! Our price slash offer in lieu with the Federal Government discount on Company Registrations will soon be over. Take advantage now!!

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N15,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.

Some company registrations conducted this week...

As regards the conversion of a business name to a private limited company (LTD). The truth is that there is no provision in CAMA (Company Allied Matters Act) for a business name to be converted or upgraded to a private limited company.
Note: In CAMA, business name is Class B, going through the Class B, one will observe that the only form of conversion admitted is from a sole proprietor (One man business) to a partnership (two or more proprietors in a business or firm). I feel this should rest the issue or motion for a legal provision for conversion or upgrade from a business name to a private limited company.

However, based on practice and experience, there are other opportunities for company promoters who have an existing business name and so wish to have a private limited company on the existing company name. I will streamline it to two:

1. Application for cessation of the existing business name. In this case, lets imagine you own a company name called EXCLUSIVE GENERAL CONSULT, you so wish and need a limited company on this same name. What you will do in this first option is apply to CAC with all necessary requirements to cease the existing company name, having fulfill all the requirements the CAC will remove the company name (EXCLUSIVE GENERAL CONSULT) from their business name registry. Then immediately, you will have to start the incorporation process of EXCLUSIVE GENERAL CONSULT LIMITED as a new limited company.
Note: Based on experience, even with the cessation of existing business name, you might still not get the EXCLUSIVE GENERAL CONSULT LIMITED approved, because if you do a public search on the name, you might find similar or identical names like EXCLUSIVE GENERAL INTEGRATED CONCEPT LTD or EXCLUSIVE CONSULT CONCEPT LTD etc. company names like this may make the efforts in getting the former business name to a limited company abortive. So it is a 50/50 chance.

2. The use of more words to the existing business name to get a desired limited company. Still the existing EXCLUSIVE GENERAL CONSULT, the company promoter will have to add more words to make the limited company look like EXCLUSIVE INTEGRATED CONSULT SERVICES LTD or EXCLUSIVE MULTIGLOBAL CONSULT CONCEPT LTD etc. Remember, all you have to do is to add more words to distinct it from the existing business name and end it with a LTD or LIMITED, which the company promoter will officially incorporate as a Limited Company.
This option gives you the opportunity to lay claim to the existing business name and a new limited company with the similar name like that of the business name. So this far better as a personal opinion.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N25,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now.

Some recent registration/incorporation...

The whole idea behind the share capital of a company evolves around the actually value of a Limited company at any point in time.

According to CAMA, the minimum share capital of a a Private Limited Company is actually N10,000. That’s the minimum value or amount that could get a normal or average private Limited company to startup in 1991, when the CAMA Act was enacted. It might interest you to know that the minimum share capital of a private limited company is still N10,000 according to statutes or by law (CAMA) but because of some economic indices like standard of living, purchasing power, inflation etc. The Nigerian citizens created or pegged their own minimum share capital at N1,000,000 now, whereas in CAMA the minimum share capital for a private limited company is still N10,000.

The minimum share Capital is a term in my own opinion, is the minimum value or amount that the owners (shareholders) of the company can invest in a company to make it commence operation. This is the minimum amount that will cover operational or overhead expenses and assets to make a normal or average company kick start. That is, having in mind the cost of company registration, the office space, the furniture & fittings, PPE, Secretary salary etc. the minimum share capital of a company must be able to cover all this expenses at least for the company to start something.

Except in few circumstances or industries, like banking, aviation, maritime, travels and tours or other highly regulated industries. The share capital of a company may not be fully PAID UP by the shareholders of a company at the beginning. What this means is that, I might choose to register my company with a share capital of N300 million but just have N20 million in liquidity. I can be called to pay up at any point in time by the company, either myself as a director or assigned directors (if the shareholders aren’t the same people acting as directors). The bottom line is that whatever share capital the company is subscribing to, it must have the capacity to overtime generate the actual liquidity of it to fund the operations of the company businesses, it may not be immediate but it can’t be called or paid up as the company operations expand.

Therefore, if a company subscribe to N1,000,000 share Capital, it does not really mean the owners of the company must have the fully money or CAC will be monitoring your bank statement, what it means is that the owners of the company have valued their company’s capital to be N1,000,000 and it can be paid or release in batches.

In conclusion, you do not need to have N1,000,000 in cash at hand or bank to registered a N1,000,000 share capital company instead all you need is to know that you have valued the capital needed to run or operate the company to be N1,000,000 and you will need to keep financing the company with the value in mind. Most a time, the shareholders of the N1,000,000 even get to spend more than N1,000,000 to startup or commence operations for the company businesses.

Though there are exceptions but for a private limited company with a share capital of N1,000,000 you do not need the N1,000,000 in liquidity immediately.


We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N25,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now.

Some of the company registrations conducted this week.

From Gomez Corporate Consult LTD to all our esteemed clients and company promoters, we wish you Happy Easter Celebrations.
This season will bring about Christ grace, love and favor upon our lives.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N25,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now.

Some of the company registrations conducted this week.

INCREASED ROYAL-VIRTUE AUTOPARTS INTERNATIONAL LTD officially a registered Company under the Limited Liability Company Class.
Duration: 5 working days.
Share Capital: 1 Million Share Capital
Total Fees: N70,000.
Do well to contact Gomez Corporate Consult Ltd your CAC accredited firm for your company, NGO, business name, trademark, tax filings, TCC etc.

We assisted clients/ promoters in the following areas:
1. Company Registration (Business Name & Partnership)
2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee)
3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc)
4. Intellectual Properties (Trademark, Patents, Specialized Designs)
5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc)
6. EFCC SCUML Application
7. NAFDAC Registration
8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc)
9. Corporate Services (Consent Code Application, Company Search etc)
10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees).

Some of our services at affordable cost:
Business Name Registration: N25,000 (Certificate will be out within 5 working days)
Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days)
Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion).

Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now.

Some of the company registrations conducted this week.