Jan 29, 2016


Have you been paying your tax? I mean your personal income tax? Buhari is looking for more people to arrest o The Government is keen on preventing  tax evasion and using the revenue collected to raise the much needed funds government desperately needs, especially with the back drop of the current falling crude oil prices.  The Federal Inland Revenue Service (FIRS) has in turn put officers on check points to arrest people that have not paid their taxes geared up its strategy to combat tax evasion which is very prevalent in Nigeria.
All Nigerians are required to pay their personal income taxes by virtue of the provisions of Section 41, Personal Income Tax Act, Laws of the Federal Republic of Nigeria, 2004. The law provides that ;
(1)     For each year of assessment, a taxable person shall, without notice or demand thereof, file a return of income in the prescribed form and containing  the prescribed information with the tax authority of the state in which the taxable person is deemed to be a resident.
Moreover, one is mandated to pay taxes based on all forms of income such person may have received in the year under assessment especially all those monies that people dashed you. This is stated in Section 36 that –
The total income of an individual for any year of assessment shall be the amount of his total assessable income from all sources for that year”.
It should be noted that evading tax payments is a crime in most jurisdictions of the world including Nigeria as seen in Section 94 (1) which states failure to comply can lead to imprisonment for 6 months and/or a fine. Usually, personal income tax is paid at source by most organisations but it’s necessary to confirm if yours has been paid.
Adedunmade Onibokun


1 comment:

  1. Tax evasion is a serious crime and I’m glad to know that government is taking serious measures to prevent this from happening and are making efforts to ensure tax collection from which citizen.


Blog Archive

LCA_YAN Moot Competition


The Nigerian blawg

Disclaimer:- Posts and comments by the publishers of this blog do not constitute legal advice or create an attorney-client relationship.

Follow by Email

Advertise your property

Property Listings

  • SALE-4bedroom duplex With 3 living rooms. Located at Opic Harmony Estate. Asking 80m Title Global C of O/ consent in progress. 08055424566
  • FOR SALE 8bedroom duplex 2 living rooms With 2 rooms BQ N150m Located off CMD Road Magodo Registered Title Contact 08055424566
  • Property for Rent – New Building, 4 unit luxury 2 bedroom flat available at Rafiu Ipaye Street, Ijesha, Surulere. Ground floor back flat- 700k per anum, First floor back flat – 750k per anum, 2nd floor back flat – 750k, 2nd floor front flat – 800k. Service charge - 75k per anum. Refundable caution – 70k. Call 08055424566 for details.
  • Property For Sale!!! A fenced and gated uncompleted 3 bedroom site on a full plot of land is available for sale at Igbetu via Awoyaya, behind Mayfair Gardepn Estate, Ibeju-Lekki, Lagos for sale. Price is N20million and Title Documents include, Family Receipt,  Deed of Assignment and Global C of O. Contact 08055424566 for more information
  • PROPERTY FOR SALE!!!!!!!!  A 5 Bedroom Duplex with 2 room BQ formerly used for a Nursery & Primary school is available for sale in Iyana Ipaja, Lagos  Building contains 9 CLASSROOMS, 2 OFFICE SPACES, 1 LARGE RECEPTION, 8 TOILETS, 5 BATHROOMS, KITCHEN,PLAY AREA. The seller's title is a certificate of Occupancy and the asking price is 35 million Naira.  Contact 08055424566 for more details 
  • List your property for rent or sale here



Email *

Message *

Powered by Blogger.