The issues with taxes among entrepreneurs are more of ignorance than voluntary refusal to pay as and when due.
The taxes demanded from a company is different from the tax demanded from a business name.
Countsystem sees this as an opportunity to help these entrepreneurs in their tax matters.
For example, we let a business owners know that Value Added Tax (VAT) is paid by buyers, when (21st of every month following the month of transaction) and where (Federal Inland Revenue Service office where the business obtained Tax Identification Number (TIN) to pay VAT collected and the percentage of VAT (5% as at 2019) in each transaction that is vatable (all goods and services except those specifically exempted under the law).
VAT attracts a penalty of ₦5,000 plus the amount of VAT owned each month that a business fails to remit (pay) to FIRS.
We also help in filling of Value Added Tax (VAT) on behalf of our clients as it falls due every month.