Please the last time we were to file tax (March 31st 2026) deadline, I tried getting the tax website of my both my resident and home states both all to no avail, I tried contacting a few friends I know ...Read more
Fokona Latest Questions
As a salary earner who pays PAYE. It deducted from my payment every month. Do I need to fill my tax. I want to know because we already pay tax every month
If I deposited 35 million into my business account as an amount I want to use in beginning my new business, will the tax authority want to know where the money is actually coming from so they can tax it, ...Read more
I invested 33.2m in MMMF as a corporate investor then I am withdrawing the amount little by little to solve problem, how do I file for CIT even though I will still have some amount left in the MMMF till ...Read more
How do one get Tax Identification Number in Nigeria?
Please I’ll like a detailed explanation on how cryptocurrency are taxed here in Nigeria, for instance 1. Interest from trading crypto 2. Income from mining app 3. And other aspects
Good day, I would appreciate some clarification regarding taxation. Assuming I borrow ₦5, 000,000 to start a business and the funds are transferred into my bank account as an inflow, would that amount be subject to tax at the end of the ...Read more
I recently heard that pension contributions can help reduce the amount of PAYE tax someone pays in Nigeria, but I don’t fully understand how that works. For example, if two employees earn the same salary, but one contributes more to pension, ...Read more
I’ve been hearing the term “taxable income” many times whenever people talk about PAYE tax in Nigeria, but I still don’t fully understand what it actually means. Is taxable income the same thing as salary, or is it the amount left ...Read more
I recently discovered that some deductions can legally reduce the amount of PAYE tax a salary earner pays in Nigeria, but I don’t fully understand how it works. For example, I’ve heard people mention things like: • Pension contributions • NHF ...Read more