There are three certainties in life, one need to continually face, one of them is tax.
A tax clearance certificate is a document issued by the Federal Inland Revenue Service (FIRS) to individuals or companies who complies with the tax filing requirements. It is an essential document required for conducting business transactions in Nigeria. In this blog post, we will provide a comprehensive guide on how to obtain a tax clearance certificate in Nigeria.
You Registered a company with corporate affairs commission, and soon found out that the federal inland revenue service have automatically enrolled your company into their tax payment scheme? or maybe you applied to obtain the TAX IDENTIFICATION NUMBER and boom, the revenue service writes mail to you to file your company tax.
STEPS TO FILING YOUR COMPANY TAX AND OBTAINING A TAX CLEARANCE CERTIFICATE.
Step 1: Register for Tax Identification Number (TIN) The first step towards obtaining a tax clearance certificate is to register for a Tax Identification Number (TIN). A TIN is a unique number assigned to taxpayers for identification purposes. To register for a TIN, you will need to submit the recent utility bills evidencing your business or residential address on it. write a formal application to the agency and affix the stamp of the company on the letter head of your application letter.
Step 2: File your tax returns After obtaining your TIN, the next step is to file your tax returns. Tax returns are filed annually and should be submitted to the relevant tax authority (either state or federal) on or before the due date. To file your tax returns, you will need to gather your audited statement of affairs, and the company statement of account, an accountant will prepare and audited report for your company.
Step 3: Pay your taxes After filing your tax returns, you will be required to pay your taxes. Taxes can be paid online, through remita by generating remita code, you make payment You will be required to provide your TIN.
Step 4: Obtain a tax clearance certificate Once you have made payment and submit the audited report, you can now get your tax clearance certificate.
Obtaining a tax clearance certificate in Nigeria is an essential requirement for doing business in the country. It is a straightforward process that requires you to register for a TIN, file your tax returns, pay your taxes, and apply for a tax clearance certificate. By following the steps outlined in this blog post, you can obtain your tax clearance certificate with ease. Remember, paying your taxes is not only a legal requirement but also a civic duty.