obitaxanswer

VAT and other indirect tax  take more than  9 percent of business revenue. How do you reduce the impact of indirect  taxes. 1. creating  a business and tax structure that  minimize your  vat and other indirect tax. 2. Planning and understanding the impact of indirect tax in your business. 2.Get  vat and indirect tax expert that will diagnose your tax system. Tconcept Professional services specialise  in tax and business advisory for more information see www.tconceptpro.com or call +234(0) 8067922530 Disclaimer : Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this publication. Consult your professional for advice.                            ...

PEOPLE ARE TALENTED, GIFTED AND SUCCESSFUL!!!! What do you think?  Let start with analysis of human brain.  Human brain is amazing and is made up of  86 billion nerve cells.  All humans are endowed with this amazing 'thing'.  Why is it that some seem more successful than others.  Does hard work alone account for this success? Success is the combination  of hard work and 'right mindset'. 'RIGHT MINDSET' is as follows - -Education and development.  -Proper analysis of fact, thinking ability and innovation.  -Action.  -'Faith' For more information see  www.tconceptpro.com . Tconcept professional services specialized in tax and business advisory.

To be successful while managing income tax of  high-net-worth individual is essential that the tax planner understands the relationship between investment and tax. Just being knowledgeable in tax laws is not enough.  The tax planner must understand good investment and the tax effect. In other words the tax planner must be  a good investment adviser. The tax planner must understand  how to manage these two indices. Deferred tax and exempt tax. OTHER  PLANNING  STRATEGY FOR HIGH-NET-WORTH INDIVIDUAL. 1.ESTABLISHMENT OF FOUNDATION AND CHARITABLE DONATION. 2.SETTING UP TRUST TO MANAGE ESTATE AND INHERITANCE TAXES. 3.INVESTMENT VEHICLE THAT MINIMIZE  TAXES. For more information see www.tconceptpro.com Disclaimer : Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this ...

Transfer pricing is pricing of goods and services for related persons. Related person(s)  is as listed below. - Associated companies. -Companies in group of companies. -Blood relations. -Director or chairman of two companies(the two companies are related). Examples of related parties transactions includes the following:  1.Transactions between a company and its Subsidiary or related company. 2.Transactions between a director and his/her company. 3.Transactions between  a person with substantial amount of shareholding and his/her company. 4.Transactions between a company and a person related to the principal  officer of that company.    For example C.E.O's wife and the company. 5. Transactions between companies where  the director of one of the companies has a substantial interest in    another. 6 . Transactions between blood relations and relatives. 7. Transactions between employer and the employee. Sometimes it become...

THE FUTURE OF YOUR JOB(PROFESSION) AND ARTIFICIAL INTELLIGENCE (A. l) Those that doubt the impact of technology (A. I) and its effect in there career are not close to reality. The trend is cutting across different industries from software engineering to Medical science. Even in legal and  art where there is much of judgement. The impact of A. I is so strong even in difficult area such as software development. Those that doubt its power has not look at its impact. There are two things that A. I cannot replace human brain and innovation. For more information on INNOVATION AND HUMAN BRAIN See www.tconceptpro.com Under Menu-EBOOK: 6 pillars of business success

COMMENCEMENT RULE. This rule below applies when the business is new. YR1=DATE OF COMMENCEMENT TO 31 DECEMBER OF THE SAME YR YR2=12MONTH FRM DATE OF COMMENCEMENT. YR3=PYB=WHERE NOT POSSIBLE REPEAT 2 ND  YEAR FIGURE=WHERE LESS THAN A YEAR AND MORE THAN A YEAR. The result is compared with Actual year basis. The lower tax result is elected. The finance act 2020 has  changed the rule  of taxation based on the actual profit for the year TCONCEPT PROFESSIONAL SERVICES is a firm that specialized in tax consulting and accounting. For more information see  www.tconceptpro.com  or call +234 (0)8067922530. Disclaimer : Obi Azubuike is not by this publication(or post) acting as a professional advisers and therefore not liable for any damage whatsoever for your acting or refraining to act based on  this publication(post). Consult your professional for advice.  Copyright(c)2018-Obi Azubuike

CHANGE OF ACCOUNTING DATE Business has right to change their accounting date. When this happens  assessment is based on the old or the new accounting date for the first three years from the date of change. The result that gives the higher tax is elected by the tax authority. ILLUSTRATION ABC & CO YEAR ENDED         =31/09/2012                                   =31/09/2013                                  =31/12/2013                                   =31/12/2014        ...