It is on record that the bulk of taxpayers in Nigeria are salary earners who are on the Pay- As- You Earn (PAYE) platform. Few of the self-employed and even private sector operators are captured in the tax net; which explains why the internally generated revenue (IGR) profile of most of the government at all […]
The Federal Inland Revenue Service will soon go after the bank accounts of defaulting taxpayers, who are raking in billions of Naira in Nigeria and are not paying taxes, according to the FIRS Chairman, Tunde Fowler. In doing that, the FIRS, through all banks in the country, would do substitution on the accounts, Fowler said, […]
Good bookkeeping is essential to keep your business thriving—not just surviving. Badly tracked finances can cause your business a world of problems—from poor cash flow to improper tax filings and beyond. These kinds of problems can put a young business at serious risk. Good bookkeeping habits, on the other hand, can help a business thrive—and […]
…generates N3.5tn from taxes in eight months The Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, said on Thursday that the government would sell properties built and developed in corporate names across the country on which taxes were not being paid. Fowler disclosed this in Lagos at a stakeholders’ meeting, where he noted that […]
As a small business owner,you need to wear several hats. Your tasks will range from marketing your brand to hiring the right people to maintaining relationships with your customers. You’ll also need to keep track of your profits and business accounting.
Accounting is probably not your passion, but keeping your books organized is crucial for your small business. Accounting is the language of business that speaks about financial growth. It translates numbers into a comprehensible statement about business profitability.