FIRS - TAXPROMAX (NIGERIA TAX SYSTEM) - PB-White Professionals

FIRS – TAXPROMAX

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Nigeria tax system has just witnessed a major transformation as part of the fallout of COVID-19 pandemic. FIRS started strict compliance to her online tax filing and payment by the month of June 2021. With this strict enforcement, all tax transactions and dealings are to be done online.

Value added tax – VAT, which is compulsory monthly routine for all business in Nigeria is now to be filed online on the TaxPromax. After successful filing, a DNI code is to be generated for online payment through either Quickteller or Remita. A monthly filing is only conclusive after payment has been made within the stipulated expiry period of 24 hours. However, this process for, Nil-filing i.e. exempted or zero rated good and services ends at the point of filing on TaxPromax.

The same rigorous but commendable system goes for other forms of taxes filing and payments.

Other tax includes:
Company Income Tax – CIT,
Personal Income Tax -PIT,
Petroleum Profit Tax – PPT,
Capital Gain Tax – CGT
Withholding Tax………..etc.

Tax Clearance Certificate – TCC which used to be paddy-for-jungle process at FIRS tax offices is now to be initiated and concluded on TaxPromax online e-service platform.

PB-White Professionals with her daughter accounting firm, Ola Olabampe & Co. (Chartered Accountants) are well and fully committed, with a dedicated department – PB-White Tax Managers to plan her clients Tax liabilities and to ensure strict compliance to all relevant tax laws. We partner with all our clients so as to avoid all form of unwarranted / avoidable tax penalties and interests due major non compliance and late penalties.

We have mastered TaxPromax with all its intricacies to suite all Tax needs and compliance issues for mutual professional benefits of us and all our clients.

TaxPromax is the way to taxes in Nigeria!

Kudos to FIRS!

Olabampe E. Ola FCA, MBA
Managing Consultant
*PB-White Professionals
*Ola Olabampe & Co.(Chartered Accountants)
Lagos – Nigeria.
08056132952.