As a business owner in Nigeria, it’s important to find ways to reduce your company’s income tax bill. Here are easy ways to save company income tax in Nigeria: Take advantage of tax deductions: Tax deductions are expenses that can be subtracted from your company’s taxable income, reducing your tax bill. Common deductions include employee …
A tax clearance certificate is a document issued by the Federal Inland Revenue Service (FIRS) that confirms that a company has fulfilled its tax obligations for a given period. The certificate is usually required when bidding for contracts, applying for loans or permits, and other business transactions. In this guide, we will outline the steps …
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Setting up a company in Nigeria can be a daunting task, especially for foreign investors or entrepreneurs. The country has a complex legal and regulatory framework that can be challenging to navigate, but with the right guidance and preparation, it is possible to establish a successful and profitable business. In this article, we will highlight …
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Foreign-owned companies in Nigeria are required to comply with legal and regulatory requirements to operate within the country. Below are some of the key legal and regulatory requirements for foreign-owned companies in Nigeria: Registration with the Corporate Affairs Commission (CAC): Foreign-owned companies are required to register with the Corporate Affairs Commission (CAC) in Nigeria. …
Foreign-Owned Companies In Nigeria: Legal and Regulatory Requirements Read More »
Accounting outsourcing is still relatively new in Nigeria. Business owners and entrepreneurs are used to traditional ways of recruiting. Therefore, they believe that they need to hire a full-time accountant before they can have access to accounting services. On the other hand, because of the cost involved in hiring a professional accountant to help keep …
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Possibly you have heard that it is cost-effective to hire an outsourced accountant but you are still in doubt about whether it is actually cost-effective or not. In-house and outsourced services offer different workflows when managing the bookkeeping and accounting for your company. While we understand that outsourced bookkeeping and accounting is not right for …
For some organizations, turning over vital business functions, such as accounting to a third party can be daunting. Business owners need to be well informed about outsourcing arrangements and processes in order to truly recognise the value and benefits of outsourcing. Below are some of the benefits which can be derived from accounting outsourcing: …
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Introduction: Accounting records are essential for any business, whether small or large, as they provide a clear and accurate picture of the financial health of the business. Properly maintained accounting records help businesses to track their cash inflows and outflows, monitor their expenses, prepare financial statements, and comply with tax and legal requirements. In this …
Nigeria, like many other countries in the world, experiences a surge of economic activities during election years. Elections are considered significant events that attract a lot of attention and resources from various sectors of the economy, leading to a plethora of business opportunities for entrepreneurs and investors. In this article, we will highlight and explain …
Business Opportunities in Nigeria During Election Year Read More »
