Business Names In Nigeria Cannot Pay Personal Income Tax

Daily Law Tips (Tip 396) by Onyekachi Umah, Esq., LLM. ACIArb(UK)

*BUSINESS NAMES IN NIGERIA CANNOT PAY PERSONAL INCOME TAX. *

Business Names are mere registered trading names for business and their owners. Companies corporate beings and different from business Names. Companies are different from their owners and pay Company Income Tax to federal government.

Hence, on issues of Personal Income Tax, business names and their owners are also treated as one and single individual.

So, the personal income tax paid by an owner of business name covers his business name. So, a single Tax Clearance Certificate will cover a business name and the owner of such business name.
In practise, some tax office out of ignorance or fraud, demand personal income tax from businesses. It is illegal, no Buiness in Nigeria is authorised to pay personal income tax, including business Names, Companies, Partnerships and Associations.

Well, in the midst of glowing ignorance in Nigeria and to avoid harassment, you can demand for both the name of the business name and that of the owner of such business name to be clearly stated as the recipients/holders of such single tax clearance certificate.

In summary, Business Names and even Companies are exempted from personal income tax because the personal income tax of the owner of a business name covers the business name. Say NO to double taxation.

My authorities are:

1. 1. Sections 18, 19, 37, 38, 573, 610 and 613 of the Companies and Allied Matters Act, 1990
2. My authorities are sections 1, 2, 3, 7, 108 and 109 of the Personal Income Tax Act 1993.

#DailyLawTips
#SabiLaw
#LearnNigerianLaws

Feel free to reach the author, ask questions or make inquiries on this topic or any other via info@LearnNigerianLaws.com or onyekachi.umah@gmail.com or +2348037665878.

NOTE: Sharing or modifying or publishing this publication without giving credit to Onyekachi Umah, Esq. and “LearnNigerianLaws.com” is a criminal breach of copyright and will be prosecuted. Please share this publication till it gets to those that need it most. Save a Nigerian today!

To receive our Daily Law Tips for free follow our Facebook page, Twitter, Instagram and YouTube via “@LearnNigerianLaws”.
This publication is the writer’s view not a legal advice and does not create any form of relationship. You may reach the writer for more information.

Powered by www.LearnNigerianLaws.com

______________________________________________________________________ Explore Nigeria’s Constitutional System — 17 Chapters, 924 Pages Of Insight By Prof. Hagler Sunny Okorie

Call to Order Your Copy: 📞 0803 766 7945 | 0802 863 6615 | 0803 225 3813 ✉️ haglersoco@gmail.com 🏢 Winners Chambers, 135 Ehi Road, Aba, Abia State ______________________________________________________________________ Your Guide To Nigeria’s Competition Law — DOA Handbook (Volumes 1 & 2) Released At ₦20,000

Available for purchase at ₦20,000 Per copy through LawPavilion’s trusted platform. Search for The DOA Handbook on Nigerian Competition Law or use the direct link: Click here. ______________________________________________________________________ “History of Rivers State Judiciary: A Compendium of Personalities on the Bench.” Authored by Ampim Gogo Blankson, Esq., Deputy Director at the Rivers State Ministry of Justice, in collaboration with the Rivers State Judiciary 💰 Cover Price: ₦20,000.00 (Twenty Thousand Naira) Bukky Law Books, Rivers State High Court Complex, Moscow Road, Port Harcourt – 📞 08034868754📞 08034729738📞 Enquiries: ______________________________________________________________________ Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook Authored by Ben Ijeoma Adigwe Esq., ACiarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria. How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌎 Website: www.benadigwe.com Ebook Version: Access it directly online at https://selar.com/prv626 ______________________________________________________________________ Alexander Payne Co. Law Reports

Contact & Orders 📞 0704 444 4777 | 0704 444 4999 | 0818 199 9888 🌐 www.alexandernigeria.com

______________________________________________________________________ The books are available for purchase at: Online: www.educodex.com | www.selar.com | www.amazon.com | www.mikeozekhome.com Enquiries: +234 704 044 9375 | +234 814 813 4773 | +234 816 872 3532 Email: educodexl@gmail.com ______________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation ______________________________________________________________________