The most important objective of taxation is to raise required revenues to meet expenditures. Apart from raising revenue, taxes are considered instruments of control and regulation to influence the pattern of consumption, production, and distribution. Taxes thus affect an economy in various Read More
AMAJU THE SPARE PARTS DEALER Amaju is a businessman known for selling car spare parts. He has been in the business for 18 years now. Early in the business, he met a friend he calls Egi ewe (bookworm) because he is learned. Read More
Every country is permitted to enact laws, rules, and regulations that govern its economic ties with other countries in a way that enables it to achieve the intended strategic objectives, based on international trade conventions. The tax rules, which specify how money Read More
Organizations use a variety of tax reduction techniques to lower their taxable revenue by incurring expenses during the current fiscal year rather than ignoring them. By doing this, a portion of the taxable income and related income tax liability are later recognized. Read More
The survival and expansion of an organization rely on proper financial management. It entails organizing, managing, controlling, and monitoring. Utilizing resources efficiently, keeping your end-stakeholder promises, gaining a competitive edge, and setting up your company for long-term financial stability are all made Read More
Millions of people have seen a decline in their quality of life during the past few years as a result of financial problems in the United States and other countries. It is well known that people facing financial troubles, or even just Read More
Taxes are a cost that every person must face to support the government because they are traditionally a major source of income for governments around the world. Olaofa (2008) asserts that the government must carry out specific tasks on behalf of its Read More
The FIRS’s attempt to require taxpayers to file their yearly returns on TaxPro-Max only a month before the June 30, 2021, deadline for CIT filing has left taxpayers with a sour aftertaste despite the project’s good intentions to give them a straightforward Read More
Enterprises without a tax ID lack a number of benefits that small businesses with one do. An employer identification number, or tax ID, is a nine-digit number assigned by the Internal Revenue Service. Some states mandate tax IDs for business owners, which Read More
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