Business
5 taxpayer obligations you should know
The official page of the apex tax administration agency of the Federal Government of Nigeria took to her social media pages today to enlighten and encourage Nigerians on tax payment as a civic duty with the following guideline;
- You have an obligation to register and obtain a Tax Identification Number (TIN). The process involves obtaining an application form from the nearest FIRS Tax Office close to your registered business address or from the Taxpromax solution on the FIRS website. Both registration process and the TIN itself are free.
- You have an obligation to make, full and voluntary disclosure of all transactions (income and expenditure) for a given period under the relevant tax law. It is the obligation of a taxpayer to pay all taxes using the online e-payment portal on the FIRS website
- It is the obligation of a taxpayer to assess itself to tax once annually under the self-assessment regime and pay in full all taxes assessed on or before the due dates.
- You are obliged as a taxpayer to maintain business records and proper books of account to facilitate voluntary compliance.
