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Eughulu

  • Quick Recap on Witholding Tax (WHT)

    • October 14, 2022
    • Posted by: Eughulu
    • Category: Taxation
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    Withholding Tax (WHT) is a method used to collect Income Tax in advance WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction The due date for filing WHT returns is 21st day of every succeeding month Penalty for late filing of returns is N25, 000 for the first month

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  • ICAN 52nd Annual Accountants’ Conference Host 2023 Presidential Candidates

    • October 13, 2022
    • Posted by: Eughulu
    • Category: ICAN
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    Yesterday, October 12, 2022, presidential candidates for the 2023 general election gave speeches at the 52nd ICAN conference. The theme of the 52nd Annual Accountants Conference was ‘Nigeria: Adapting Sustainability for Economic Prosperity.’ It was intended that each presidential candidate would speak to the audience during the conference, not the vice presidential candidate. Inadequate electricity supply

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  • Members of ICAN sue FIRS over Tax seal

    • September 30, 2022
    • Posted by: Eughulu
    • Category: Taxation
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    Some accountants have filed a lawsuit against the Federal Inland Revenue Service (FIRS) in the Federal High Court of Lagos regarding the plan to require tax practitioners to use the seal of the Chartered Institute of Taxation of Nigeria (CITN) starting on October 1, 2022, when filing annual returns with the Service. Chief Afolabi Igbaroola,

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