In Nigeria, all persons in employment, individuals in business, non-residents who derive income from Nigeria, and companies that operate in Nigeria are mandated to pay tax. The tax regime in Nigeria is administered by the three tiers of government – Federal, State and Local government taxes.Federal government taxes include- Companies Income Tax , Value Added Tax , Capital gain tax, stamp duty tax, education tax, petroleum profit tax amongst others.
Businesses, whether small or micro have to figure out which taxes is applicable to the business that they are involved so as to enable them calculate the correct taxes to pay.
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