What Is Tax Return Filing Annual returns and tax filing are two distinct processes that serve different purposes You can think of filing annual returns as submitting a yearly report card to the government to let them know your business is still active A typical annual return form requires you to provide information on Changes in your company s share capital
FIRS Self Service Filing your tax returns is a legal obligation that every taxpayer must fulfil at the end of a stipulated period of time If your business is in Nigeria the regulating body is the Federal Inland Revenue Service FIRS while state agencies like Lagos Inland Revenue Service LIRS also demand an annual tax returns filing from taxpayers who
What Is Tax Return Filing
What Is Tax Return Filing
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Filing Taxes Online The Leading 6 Perks Of Taxes Filing Online Twit
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There are specified timelines for payment and filing of tax returns for the various taxes as well as penalties that apply to tax offences such as failure to file by the stipulated due dates Some of the major taxes that apply to a vast number of individuals and establishments are explored below Type of Tax Companies Income Tax CIT A tax return reports income expenses tax payments made during the year and other relevant information to the taxing authority It helps to determine whether a tax refund is due This will depend on whether a person has overpaid on taxes or was late in paying tax for previous years 3
A tax return refers to the various tax forms a person or a business fills out to report their income and expenses to the IRS or another tax authority such as a state department of revenue An individual tax return is an official form that a person submits to a federal state or local taxing agency to report all taxable income received during the previous year All
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A tax return is one or more forms filed to show how much a person or organization earned during a period of time and the tax owed on that amount Tax filing season is officially open here s everything you need to know about filing a return
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.jpg?width=8333&name=tax graphic_2020 (1).jpg "What To Expect When Filing Your Taxes This Year")
What To Expect When Filing Your Taxes This Year
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Annual returns and tax filing are two distinct processes that serve different purposes You can think of filing annual returns as submitting a yearly report card to the government to let them know your business is still active A typical annual return form requires you to provide information on Changes in your company s share capital
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What Is Tax Return Filing - A tax return reports income expenses tax payments made during the year and other relevant information to the taxing authority It helps to determine whether a tax refund is due This will depend on whether a person has overpaid on taxes or was late in paying tax for previous years 3
