THE TWO MOST IMPORTANT DOCUMENTS IN YOUR LIFE! ( THE MYB ™ SERIES )

If you are 18 years or older, there are two important documents you will need during your lifetime.  The first is your international passport.

The second most important document you need in your life is – your Tax Clearance Certificate  (TCC).  This is your ‘Tax Passport’.

A Tax Clearance Certificate ( Tax Passport) is a document issued when you pay your tax to the Government. It makes you a bonafide member of the society and gives you the right to demand good governance and amenities from the government.

Not paying tax makes you an illegal member of the society and can result in criminal charges against you.

Whether you are self employed or own a business,  it’s your duty to make tax payments at the end of each year.   If you are an employee,  ensure that your employer has been remitting all taxes deducted from your salary especially as the year end draws near.

As a self employed business owner or as an employee, there are  certain tax – free deduction you can enjoy on your earnings.   It’s your net earning that should be taxed.   To avoid a wrong tax computation and enjoy the available tax – free deduction on your earnings, please seek the help of a finance expert.


I remain passionately committed to your success!

EHIS EGBUJI 
Finance Expert. 
Business Accounting • Personal Finance • Tax • Training 

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For further enquiries –
E-mail: ehisegbuji@gmail.com  
Phone: +2348091001173 
Twitter: @ehisbebe

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REASONS WHY YOU SHOULD KNOW & REPORT YOUR BUSINESS PERFORMANCE

 Reporting your business performance is known as Financial Reporting (F.R).  It means presenting your business performance in a report format for a given period, usually one year. 

 

 
PROFIT OR LOSS

The report shows whether your business made a profit or loss.  It shows your cash position, your assets and liabilities.  It usually follows a standard format and is prepared by a Finance Expert/Accountant.

 

FINANCIAL INTEGRITY

It can be scary to present your business information to the Government/public, but it will help build financial integrity for you and your business which you will need when dealing with banks, financial sponsors, potential investors, shareholders and bigger clients.

 

GOVERNMENT’s ECONOMIC DECISIONS

Your business financial reports helps the Government in making economic decisions that affect businesses.  For example, making funds accessible to small & medium scale businesses; increasing or reducing business taxes, etc.

International organisations like the International Monetary Fund (IMF) also use financial reports to monitor growth & development in countries.

 

DELISTING OF BUSINESS NAME

It is important that every business owner has a basic understanding of the Financial Reporting requirements for businesses.  Businesses that do not report their financial performance stand the risk of being delisted from the Companies’ Register.  This means your business ceases to exist as a legal entity.

 

If you haven’t been reporting your business performance, contact us or a finance expert  today.  Don’t allow your business to get delisted or lose financial integrity.

 

 

‘ Success is - little steps of deliberate actions’ – anonymous

 

We remain passionate about your business success!

 

CONTACT US TODAY!

e-mail: ehisegbuji@gmail.com

twitter: @ehisbebe

Phone no: 08091001173

Lagos, Nigeria.

 

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