The average man in the society knows next to nothing about tax in the society he lives in. All he is literally concerned of is living a standard way of life and raising a family in a healthy society. Nigeria has retrogressed on this high level of Tax ignorance or evasion.
Why talk about Tax?
Oliver Wendell Holmes, a former U.S. Supreme Court Justice,
said, “Taxes are what we pay for a civilized society.” Governments need
sustainable funding for social programs and public investments to promote
economic growth and development. Programs providing health, education,
infrastructure and other amenities are important to achieve a common goal of a
prosperous, functional and orderly society.
To achieve all this and more, they require that governments raise
revenues.
The
citizens should thus be enlightened to prompt payment of taxes likewise legal
practitioners can provide legal advice in that respect.
·
Personal Income Tax (PITA)
·
Company Income Tax
·
Tax paid on goods and services
·
Toll Tax
·
Recreational tax
·
Property Tax etc.
One
of the ways legal practitioners can assist in tax payment should be in
processing the tax identification number (TIN) upon incorporation of a company
or business organisation.
The steps are:
1.
Make an application in the nearest tax office to the
registered address of the company or business organisation.
2. Address your application letter to:
For example:
"The tax controller,
Federal Inland Revenue Service,
Isolo Micro & Small Tax Office
22, Osolo Way, Ajao Estate,
Lagos"
Application
For Vat Registration
We write to inform you that the company wishes to be
formally registered with you for VAT purposes.
By
our letter dated 2th September, 2017
copies of the Company’s Certificate of Incorporation, Memorandum and Articles
of Association and other relevant information are being forwarded to you.
We
shall be grateful if you would register the company for VAT purposes.
Thank
you for your cooperation.
Yours
Faithfully,
For:
Company’s name
John
John Joan
Smith
Director
Secretary
2. Complete Vat Registration form 001
3. Tax payers' input form
3. Type an application for VAT registration with your
company's letter head
5. Provide a photocopy of certificate of incorporation
(original for sighting)
6. Photocopy of Utility Bill.
Afterthoughts:
·
The government should ensure sensitization of the public and
training of the officials on tax issues.
·
The government should ensure efficient tax administration to help
encourage businesses to become formally registered and the economy to grow.
·
The tax system should be kept as simple as possible to avoid
evasion.
·
Online filling should be encouraged to promote compliance.
·
The right legal framework should be created to ensure
integrity in the way Tax authorities carry out audit on Firm’s.
·
The Tax Authorities should be accountable to the public on
the use of public taxes.
Tax payment is everybody’s business
towards making the society a better place.
Disclaimer: Posts and comments by the publishers of this blog do not constitute
legal advice or create an attorney-client relationship
Labels: Tax, VAT
