Businesses as a whole whether big or small must fulfil the obligations to pay tax which is a civil duty too. However, before a business start paying tax, it must first be registered with Corporate Affairs Commission (CAC) to have a legal identity. In this article, you will be learning why all businesses need to …. Read More
Owning your own business would always be a good thing, many times it would have its ups and downs just like some other things in our lives. The truth is that many small business owners at various points are prone to making mistakes. I mean mistakes are part of life, right? Here are five mistakes …. Read More
Practically every small business has receivables that it cannot obtain from clients. If your small business doesn’t have any such receivables, consider yourself lucky. For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction. Bad Debt Tax Deduction A small business can write-off …. Read More
Estate planning means developing a plan to transfer your property to the next generation with minimal tax exposure. It involves determining how your assets will be preserved, managed, and distributed after death or if you become incapacitated. Estate planning often involves the use of a will. A will, is a document, usually in writing, designating …. Read More
A little basic book keeping can go a long way in keeping your business organized and profitable. You need to know how to efficiently collect your money, save it and spend or invest it wisely. If you want to succeed in business, you need to know about book keeping and financial management. Financial management is …. Read More
A donation is a gift, given in support of causes, charities or designated funds for charitable purposes. Donations go a long way in building communities and supporting the less-privileged in our society. Nigerian companies are generally taxed under the Companies Income Tax Act (CITA). The CITA exempts profits generated by companies engaged in certain public benefit activities …. Read More
We want to provide some tips to prepare for the 2020 income tax filing season. Some of the advice will sound familiar, but it bears repeating. Some involves changes to the way tax rules have evolved. The global tax landscape is constantly evolving, thus exerting pressure on tax authorities to drive improved compliance. However, individuals …. Read More
Freelancing is an exciting adventure, but it’s rarely an easy one. A freelance worker is fully responsible for generating their own income, and their time is quite literally money. As a freelance worker, who does not have the security of a regular salary, attracting customers will take up a large proportion of your time. Apart …. Read More
Ethiopia has offered tax relief to companies affected by the coronavirus pandemic. This was announced by the Minister for Finance, Eyob Tekalign. Firstly, companies affected by the pandemic would get relief for four months of income tax. Secondly, Companies who owe interest and penalties on outstanding taxes would have them cancelled. These companies have been …. Read More
Are you looking to get started as a Freelancer in Nigeria? If yes, then you need this article Basics of Freelancing Freelancing is common in the technology and creative industries. A freelancer is an independent contractor . This they are not employees, they are not viewed as employees for tax and employment law purposes. One …. Read More