Introduction Value Added Tax (VAT) is tax payable on the supply all of goods and services, except those exempted by the law.[1] It is a multi-stage tax system imposed at every stage of production chain, that is, from the manufacturer to the final consumer. The final consumer usually bears the burden of VAT. It is […]
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Introduction Over the years, mediums of exchange have evolved from barter to the use of gold and other precious metals, fiat currency and high-tech e-money characterized by the use of credit cards and e-wallets. Then in 2009 the concept of money and payments changed with the emergence of blockchain technology and the birth of cryptocurrencies. […]
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Introduction Business entities in Nigeria may be set up using any one of three legal structures. These structures are Sole proprietorships, Partnerships or registered companies (which may be limited by shares, limited by guarantee or unlimited). The decision to adopt any of the above business structures should stem from a careful consideration of such factors […]
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One of the essentials of a good tax system is “certainty”. That is, such a system must clearly prescribe those who are liable to pay tax, the amount/rate to be paid, and the time within which such payment must be made, hence the need for tax regulations. Different countries have their tax regulations which specify […]
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