Like starting your business in the United States, closing a company in the USA (particularly as a foreigner) can be an emotional one. However, no matter the reason behind the decision to close your business, please take note that doing so is not limited to stopping business activities. There are other legal and tax procedures…
Read More : HOW DO I CLOSE A COMPANY IN THE USAFollowing the directive restricting banks and other financial service providers from operating accounts for cryptocurrency service providers in 2021, the Central Bank of Nigeria on 22 December 2023, issued guidelines on the operation of bank accounts of firms transacting in crypto assets and cryptocurrency (also referred to as Virtual Asset Service Providers (VASPs). Within this…
Read More : CBN GUIDELINE ON CRYPTOCURRENCY OPERATION IN NIGERIAWHAT IS TAX PRO-MAX Taxpromax is one of the newest innovations of the Federal Inland Revenue Service (FIRS) launched to simplify tax compliance and to enhance a digital tax administration process in Nigeria. Taxpromax is a self-service platform or portal that enables taxpayers to file tax returns, pay taxes, process and validate Tax Clearance Certificates,…
Read More : WHAT IS FIRS TAX PRO-MAXA church is a religious organization comprising a group of people who together share the same belief. To operate and function as a legally recognized institution, a church must be registered. To register a church in Nigeria, it is hereby advised to get registered as an “Incorporated Trustee” because it falls under a non-profit organization….
Read More : HOW TO REGISTER A CHURCH IN NIGERIAWithholding tax (WHT) was introduced into the Nigerian Tax system to reduce and possibly terminate the incidents of tax evasion. In this article, we examine frequently asked questions on the subject such as; what is withholding tax in Nigeria, who pays withholding tax in Nigeria, how it works within the Nigerian tax administrative system, exemptions,…
Read More : WITHHOLDING TAX IN NIGERIAThe Nigeria Startup Support and Engagement Portal (also referred to as “the Startup Portal”) is an offshoot of the Nigeria Startup Act of 2022, this Act was set up to provide or create a thriving and enabling environment for technology-enabled startups in Nigeria to position Nigeria’s startup ecosystem as the leading digital technology center in…
Read More : THE STARTUP PORTAL: WHAT FOUNDERS SHOULD KNOWThe purpose of NSITF registration is to provide a system of compensation for employees in the instance of casualties or even death in the work environment. The NSITF is the acronym for Nigeria Social Insurance Trust Fund. It is an active and committed government institution saddled with the responsibility of catering for the employee’s welfare…
Read More : HOW TO GET REGISTERED WITH NSITFNITDA registration is a mandatory requirement for all ICT service providers or contractors providing services to any Ministry, Department, or Agency (MDA) in Nigeria. The National Information Technology Development Agency (NITDA) is a government agency empowered to regulate and promote the use and development of Information Technology in all spheres or sectors of Nigeria through…
Read More : NITDA REGISTRATION AS ICT SERVICE PROVIDERS IN NIGERIAAn NGO is an association of persons registered under Section 590 of CAMA 2020 for the advancement of religious, educational, literary, scientific, social development, cultural, sporting, and charitable purposes, they are also referred to as non-profit organizations. In light of the significant role played by NGOs, the Government sees the need and reason to grant…
Read More : CAN I GET A TAX EXEMPTION LETTER FOR MY NGOWhen it comes to setting up a charity organization in Nigeria, the popular entity choice that comes to mind is registering such an organization as an incorporated trustee. However, most people fail to realize that there is an alternative choice of entity known as a Company Limited by Guarantee, probably due to the fact that…
Read More : DIFFERENCE BETWEEN A COMPANY LIMITED BY GUARANTEE AND AN INCORPORATED TRUSTEE
