January 2nd 2023, The Federal Inland Revenue Service via its social media platforms gave Business Owners a beautiful Happy New Year Gift: Get Your Tax Clearance Certificate In One Click. Waoo! what a relief, what a joy to business owners. Industry experts showered praises on the Revenue Service, they said it is a giant boost to the Nation’s Ease of Doing Business.
We compiled Five (5) Take Homes from this development
1. NO LIABILITY FROM PRECEDING YEARS: Only Companies with no liabilities including already due VAT will have access to download the Tax Clearance Certificate.
2. PREVIOUS ACCOUNTS/STATEMENT OF AFFAIRS: Preceding Years’ Audited Financial Statement or Statement of Account must have been filed.
3. TAXPROMAX REGISTRATION: If you have not completed your TaxProMax Registration, then you can’t have access to the platform. Issuance of Tax Identification Number (which recently comes with CAC Registration) doesn’t imply the Company is registered on TaxProMax.
4. BUSINESS NAMES: It is worth noting that Business Names can’t apply for or be issued Tax Clearance certificates rather the State issued Tax Clearance Certificate/Document will suffice as the Business Name Tax Clearance.
5. DECEMBER 31ST 2023 EXPIRATION: Unlike the Temporary TCC rolled out some years back which covered only 6 months, this is a full-year tax clearance certificate bearing December 31st 2023 as its expiration date.
This is a beautiful development and we appreciate the management of FIRS for this lofty stride, reducing the bottleneck process of getting TCC from tax offices.
We also want to draw the attention of the Revenue Service to the other missing information on the TCC. A careful look at the downloaded Tax Clearance Certificate as of the 3rd of January, 2023 shows that information for some assessment years is missing. We are sure the Revenue Service has duly noted the anomaly and will rectify same as soon as possible.
For Tax, Tax Clearance Certificates and other Compliance Matters
Tolulope Oguntade Regville Associates email@example.com 08065111667