Please someone should help me out practically on how to get my business name tax filing done
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Please someone should help me out practically on how to get my business name tax filing done
Since you already have your CAC registered business name and TIN number, you're actually in a good position to file. Here's exactly what to do: Step 1 — Go to TaxProMax Visit taxpromax.gov.ng and create an account using your TIN number. This is FIRS's official filing platform. Step 2 — Prepare yourRead more
Since you already have your CAC registered business name and TIN number, you’re actually in a good position to file. Here’s exactly what to do:
Step 1 — Go to TaxProMax
Visit taxpromax.gov.ng and create an account using your TIN number. This is FIRS’s official filing platform.
Step 2 — Prepare your figures
Before you log in, write down:
Total income your business earned this year
Total expenses you spent running the business
The difference = your profit (that’s what gets taxed)
Even if you made little or no profit, you still file. It’s called a nil return.
Step 3 — File your return
Once logged in, select “File Tax Return”, enter your income and expense figures, then submit.
Step 4 — Pay if required
If your annual profit is above ₦300,000, a small tax applies starting at 7%. You can pay directly through the platform via Remita or your bank.
Important deadline: Returns for 2025 must be filed before March 31, 2026 so now is the right time.
If you find the online process confusing, you can also walk into any nearby FIRS office with your CAC certificate, TIN, and income details. They’ll guide you through it physically.
See lessThanks alot sir
Thanks alot sir
See lessHow about individuals without a business name? I think there's something called PAYE
How about individuals without a business name? I think there’s something called PAYE
See lessWhat Is PAYE? PAYE stands for Pay As You Earn. It is a system of personal income tax collection in Nigeria where tax is deducted directly from an employee's salary before they even receive it. In simple terms — your employer deducts your tax and pays it to the government on your behalf, every singleRead more
What Is PAYE?
PAYE stands for Pay As You Earn. It is a system of personal income tax collection in Nigeria where tax is deducted directly from an employee’s salary before they even receive it.
In simple terms — your employer deducts your tax and pays it to the government on your behalf, every single month.
Who Does PAYE Apply To?
See lessPAYE applies to:
Employees earning a salary from a company or organization
Civil servants and government workers
Contract staff on a regular payroll
Basically anyone who earns income through employment — whether or not they own a business or have a registered business name
So if you have no business name and you are simply working for someone else, PAYE is your tax system.
This is quite enlightening, thank you. Do I need to file returns when my business is not active? I registered my business name in 2024 but I haven't really started the business yet.
This is quite enlightening, thank you. Do I need to file returns when my business is not active? I registered my business name in 2024 but I haven’t really started the business yet.
See lessYes, you still needs to file. Under the Companies and Allied Matters Act (CAMA) 2020, which governs business registrations in Nigeria, the obligation to file annual returns with the CAC is not tied to whether your business is active or generating income. It is tied to the fact that the business nameRead more
Yes, you still needs to file.
See lessUnder the Companies and Allied Matters Act (CAMA) 2020, which governs business registrations in Nigeria, the obligation to file annual returns with the CAC is not tied to whether your business is active or generating income. It is tied to the fact that the business name exists on the register.
Here is why:
📌 The Law Does Not Distinguish Between Active and Inactive Businesses
The CAC does not have a concept of “dormant” status for sole proprietorships / business names the way some countries do for companies. Once your business name is registered:
It is considered a live registration
It must file annual returns every year to remain in good standing
There is no exemption for inactivity
To get your business name tax filing done in Nigeria, you’re essentially dealing with FIRS (for federal taxes like VAT) and your State Internal Revenue Service (for personal income tax if you’re a sole proprietor). Since a business name is not a separate legal entity like a company, the process is mRead more
To get your business name tax filing done in Nigeria, you’re essentially dealing with FIRS (for federal taxes like VAT) and your State Internal Revenue Service (for personal income tax if you’re a sole proprietor). Since a business name is not a separate legal entity like a company, the process is more straightforward—but still structured.
🔹 STEP-BY-STEP: TAX FILING FOR A BUSINESS NAME
1. Confirm Your Business Registration
Make sure your business name is registered with:
Corporate Affairs Commission
👉 Your CAC certificate is required before tax registration.
2. Register for Tax (Get TIN)
You need a Tax Identification Number (TIN).
Where to register:
Federal Inland Revenue Service
How:
Visit a FIRS office or use their online portal
Provide:
CAC certificate
Valid ID
Business address
Phone/email
👉 TIN is free
3. Know the Taxes You Must File
As a business name (sole proprietor), you typically handle:
✅ Personal Income Tax (PIT)
Filed with your State Internal Revenue Service
Based on your business profit, not total sales
Example (Lagos):
Lagos State Internal Revenue Service
✅ Value Added Tax (VAT)
7.5% on goods/services
File monthly with FIRS
👉 Even if you didn’t make sales, you must file “Nil return”
✅ Withholding Tax (WHT) (if applicable)
Deducted when paying vendors/contractors
Remitted to FIRS or State
4. Keep Proper Records
You must track:
Sales (income)
Expenses
Profit
👉 This determines how much tax you pay
5. File Your Returns
📌 Personal Income Tax (PIT)
Filed annually
Deadline: March 31 (for previous year)
📌 VAT
Filed monthly
Deadline: 21st of next month
📌 WHT
Filed monthly when applicable
6. Make Payment
Pay via bank or online platforms approved by FIRS/State IRS
Keep receipts as proof of compliance
🔹 SIMPLE EXAMPLE
If your business made:
Revenue: ₦5,000,000
Expenses: ₦3,000,000
👉 Profit = ₦2,000,000
You’ll pay:
PIT → based on ₦2M (graduated tax rate)
VAT → 7.5% on applicable sales
🔹 COMMON MISTAKES TO AVOID
Not registering for TIN
Ignoring VAT filings
Mixing personal and business money
Not keeping records
Missing deadlines (penalties apply)
🔹 DO YOU NEED AN ACCOUNTANT?
👉 Not mandatory, but recommended if:
Your revenue is growing
You don’t understand tax calculations
You want to avoid penalties
🔹 COST
TIN registration → Free
Filing yourself → Free
Accountant → ₦50k–₦200k/year (varies)
🔹 PRACTICAL SHORTCUT (EASIEST WAY)
Register TIN with FIRS
Open a simple record (notebook or Excel)
File VAT monthly (even if zero)
File PIT once a year
See lessFiling taxes for a Business Name in Nigeria is simpler than for a "Limited Liability Company" because the business and the owner are treated as one. You primarily deal with the FIRS (Federal) for VAT and your State Revenue Service (e.g., LIRS for Lagos) for Income Tax. Here is the practical, no-nonsRead more
Filing taxes for a Business Name in Nigeria is simpler than for a “Limited Liability Company” because the business and the owner are treated as one. You primarily deal with the FIRS (Federal) for VAT and your State Revenue Service (e.g., LIRS for Lagos) for Income Tax.
Here is the practical, no-nonsense roadmap to getting it done:
1. Get Your “Tax Identity” (TIN)
Before you can file anything, you need a Tax Identification Number (TIN).
2. The Two Main Taxes You Must Know
As a business name owner, you generally juggle two balls:
3. Practical Filing Calendar
Tax Type, Who to Pay, When to File
VAT, FIRS (Federal), By the 21st day of every month.
Income Tax, State IRS, Once a year (Deadline is usually March 31st)
4. Simple Record Keeping
You cannot file taxes accurately if you don’t know your numbers. Keep a simple notebook or Excel sheet tracking:
The “Bottom Line” Shortcut
If you are just starting out and want to stay legal without stress:
Is your business currently making active sales, or are you just setting up the paperwork for future use?
Goodluck!
See lessHere’s the brief practical way, 1: Register your business name with Corporate Affairs Commission (CAC) (if not already done). 2: Get a Tax Identification Number (TIN) from Federal Inland Revenue Service (NRS) free (online or at NRS office). 3: Visit your State Internal Revenue Service(e.g., Lagos IRRead more
Here’s the brief practical way,
1: Register your business name with Corporate Affairs Commission (CAC) (if not already done).
2: Get a Tax Identification Number (TIN) from Federal Inland Revenue Service (NRS) free (online or at NRS office).
3: Visit your State Internal Revenue Service(e.g., Lagos IRS) to open your tax file.
4: Prepare simple records of your income and expenses.
5: File your annual tax return (even if no profit) and pay any tax assessed.
That’s all — CAC → TIN → Tax file → File returns yearly.
See lessI'm grateful
I’m grateful
See less