Business
August 29, 2020
Human Angle - Sales Tax and You
As a matter of fact, and obligation, every individual, whether resident or non-resident in Nigeria, persons in paid employment or businesses, or persons who derive their income from Nigeria, as well as companies that operate in Nigeria, are all liable to pay tax.

The failure to deduct and remit tax or failure to pay taxes of any kind as the case may be attracts disciplinary fines and penalties.

And like other countries, the main function of the Nigerian tax system is to generate revenue for the running of the government at all levels and provide infrastructure to the public.

Over the years, various tax laws in Nigeria have made provision for different taxes, one of which is the Sales Tax.

This edition of the Human Angle anchored by Taiwo Adeoti discusses an overview of Sales Tax as it relates with individuals.

Watch Video Courtesy WebTVNG

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