Questions What is the difference between Value Added Tax (VAT) and Withholding Tax (WHT)? What are the examples of goods and services that are changed to tax / vatable goods and services? Answers Value Added Tax (VAT) Value Added Tax…

It is very interesting to note that many business people are getting interested in the basic principles of Tax in Nigeria. Tax is very important and must not be ignored by any entrepreneur who wants to succeed and grow his/her…

Value Added Tax – What supplies are liable to VAT in Nigeria? Many people have been asking me many questions about VAT in Nigeria since the last article.  It is necessary for every citizen to understand the basic principles of…

Value Added Tax (VAT) What is Value Added Tax – VAT? VAT is a Tax on goods and services.  It is paid by the buyer to the registered seller who remits the tax to the tax authorities.  The tax is…

As a Business Owner, if you want to save yourself from heavy tax liabilities you must keep accurate business records. Many business owners pay excessive taxes just because they did not operate a system that allowed them to keep track…