Virtualaccounts:


For a limited company, tax rate is 30% of taxable income/profit. Taxable income/profit is derived from accounting profit after deducting non taxable income and adding non allowable expenses. These are accounting jargons and you may need an Accountant to help you with the calculations.

For a sole proprietorship, the rate ranges from 7-24% of income, depending on the income band. Usually the highest rate is 18.96%. Again, you may need an Accountant to assist with the calculations.

Regards.

Sorry to disturb again. Please how can one file VAT online? The link at http://www.jtb.gov.ng ain't working.

It's quite stressful and hardly any time sef to visit FIRS monthly simply to pay tax.
Thanks in advance

designVATExcel:


Sorry to disturb again. Please how can one file VAT online? The link at http://www.jtb.gov.ng ain't working.

It's quite stressful and hardly any time sef to visit FIRS monthly simply to pay tax.
Thanks in advance

Access is not automatic. You will need to write a letter to your tax office to grant you access. Please visit your tax office for direction.

Another option is to pay us a low as 10k monthly to help you file.

Bless you.

Virtualaccounts:


Access is not automatic. You will need to write a letter to your tax office to grant you access. Please visit your tax office for direction.

Another option is to pay us a low as 10k monthly to help you file.

Bless you.

@virtualaccounts pls assist o. D company i work for though small has about 4 - 5 staff members. For embassy/visa applications do i have to make use of company tax documents? Or i have to pay my own tax separately? If so pls at what rate? Salary is btw 40-45k monthly. Thanks

jones2014:


@virtualaccounts pls assist o. D company i work for though small has about 4 - 5 staff members. For embassy/visa applications do i have to make use of company tax documents? Or i have to pay my own tax separately? If so pls at what rate? Salary is btw 40-45k monthly. Thanks

For visa application, your tax clearance certificate (Tcc) will do. You can ask your company to help you process your Tcc if they haven't done that already. To do this they must have been filing your annual taxes.

Virtualaccounts:


For visa application, your tax clearance certificate (Tcc) will do. You can ask your company to help you process your Tcc if they haven't done that already. To do this they must have been filing your annual taxes.

thanks and God bless.

Hi, please contact me on my email I need you to do some stuff for me if you are in lagos.

Virtualaccounts:


For visa application, your tax clearance certificate (Tcc) will do. You can ask your company to help you process your Tcc if they haven't done that already. To do this they must have been filing your annual taxes.

Jimmychuks2018:
Hi, please contact me on my email I need you to do some stuff for me if you are in lagos.

Sent you a pm. Not sure you've seen it. You can reach us on info(at)virtualaccountant.ng.or whatsapp 080.2975.3761

Good morning.. Please do you know about tax, I need info.. Am being disturbed to pay income tax on a business have not even broken even .. We just started the school.. What I receive as school fees isn't enough to even pay salary and am disturbed to pay 45k as my own tax separate from 1% from teachers salary

Virtualaccounts:


You will sir if you run a business in Nigeria. Also, if you want to expand your business.

Must tax be paid monthly or can it be accumulated to be paid annually?

Thank you for these info.

Do you guys know how small business pay taxes in the US?

I've found out that taxes are paid depending on the area where you work and provide services. For example, if you are engaged in retail trade and sell certain goods there are some special sales taxes attached to them which you have to include in your price. You are obliged to pay sales taxes on these even though most of the time it is the customer. Also, in most states, even though you payed the special taxes the sales tax still applies to it. Beware of special taxes if you sell alcohol or cigarettes but check your product just in case! Also, if you do business in fast food sector, there are also nuances there. To be sure, there are taxes done for you, which is a lifesaver for a small business start-up if you aren't a franchise, then they will explain taxes for you. Just keep in mind that if you are franchising, you are not a corporation and you pay tax like any other small business.

Thanks for this education. Please what's the current total revenue a company must have to be qualified to pay tax as a company in a year