Tax Registration Guide - FIRS

Tax Education Series - Episode 9

Written by Richard Okunola.

Following the scenario I mentioned yesterday, there are lot more opportunities to grow your business if you are tax compliant. Today, I'll be sharing a step-by-step guide from the FIRS on how to register your business for tax purpose and also how to be tax compliant.

1. Register as a corporate entity with the Corporate Affairs Commission, (CAC);

https://www.cac.gov.ng/business-names/ or https://www.cac.gov.ng/companies/

2. For new business owners, if you do not get your Tax Identification Number, (TIN) via mail or SMS two weeks after you register your business at CAC. You could email [email protected].

For registered businesses that have not obtained or have forgotten their TIN, click here: https://apps.firs.gov.ng/tinverification and type in your RC Number / BN Numberto ascertain your TIN. Your corresponding business name and the assigned TIN and Tax office will be displayed. TIN has been issued to all registered companies, enterprises and not for profit organisations.

3. Register to file and remit Value Added Tax, (VAT) and Withholding Tax (WHT) at the nearest FIRS office. This may require special guidance.

4. Note that you must file and pay VAT and WHT tax returns not later than the 21st of every month. Check my previous articles to learn more.

5. You can also download VAT and WHT tax forms on the FIRS website.

6. To obtain your Tax Clearance Certificate (TCC) online, click here: https://tcc.firs.gov.ng/ . Once you have paid all taxes due. You could also apply for your TCC at the office where you file your returns.

7. If you want to verify TCC submitted by third parties, click here: https://tcc.firs.gov.ng/

8. File your Companies Income Tax, (CIT) returns not later than six months at the end of the year. That is, by June 30th, if 31st December is your Accounting Year End; or 18 months after your registration, whichever comes first.

PS: The step-by-step guide was obtained from the FIRS website. I will share guides for other states later.

#Tax #TaxAlert #TaxInsight #TaxEducation #TaxSeries.