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Tax Guide For New Business Owners
As a new business owner, you are expected to:
 
1.          Register as a corporate entity with the Corporate Affairs Commission, (CAC);
 
2.          For new business owners, go to the nearest tax office to obtain your Taxpayer Identification Number, TIN or call Musawa 08159490000 or Stephen 08159490002, to obtain your TIN after two weeks of registration. TIN is free
 
For registered businesses that have not obtained or have forgotten their TIN click here:
http://apps.firs.gov.ng/tinverification and type in your RC Number/BN Number @ to ascertain your (TIN).
Your corresponding business name and the assigned TIN and Tax Office will be displayed.
TIN has been generated for all registered companies and entreprises.
 
3.          Register to file and remit Value Added Tax, (VAT) and Withholding Tax (WHT) at the nearest FIRS office. (See the list of FIRS offices here:  http://www.firs.gov.ng/contactus/Pages/FIRS-Locator.aspx Note that you must file and pay VAT and WHT tax returns not later than 21st of every month.  You can also download VAT and WHT tax forms here
 
4.          To obtain your Tax Clearance Certificate (TCC), once you have paid all taxes due, apply for your TCC at the office, where you file your returns.
 
5.         File your Companies Income Tax, CIT, returns not later than six months after the end of the Accounting  Year or 18 months after the commencement of business or whichever comes first.