The 618 Bees blog
Practical guides to starting, running and protecting your business in Nigeria. Find the answers you need, wherever you are in your business journey.
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A residential permit in Nigeria is a legal document or card that permits a non-citizen to reside in a country for a period of time. The agency in charge of residential permits is the National Immigration...
The NIS quality certification is part of the certificates issued by the SON Governing council for excellence in products and production processes. The NIS Quality Mark certification is given under the...
PAYE simply means “pay as you earn”. It is a tax system derived from the Personal Income Tax Act in Nigeria which is a method of tax calculation on the income of persons. This means that all tax payable...
The essence of an indemnity clause is to allocate risk from one of the contracting party to the other. When an indemnification clause is inserted into a contract, it is meant to transfer risk between the...
The Finance Bill now the Finance Act 2019 has no doubt affected the VAT and stamp duty charges in Nigeria. By this new law, the Value Added Tax which was originally 5% has been increased to 7.5%. The stamp...
Tax Clearance Certificate (TCC) in Nigeriais a document issued by the FederalInland Revenue Service(FIRS) or States Inland Revenue Service showing that the applicant’s taxes has been filed up to date and...
The law is trite that no foreigner can engage in business in Nigeria without a business permit except those expressly exempted by the Companies and Allied Matters Act Cap C20 LFN 2004. As such, a registered...
The Act comes into effect on Saturday the 1stof February, 2020. Value Added Tax (VAT) has increased from 5% to 7.5% but items in the VAT exemption list are tax free. If you have a business that reports less...
Confidentiality clause is that part of an agreement that prevents the other party to the agreement from revealing vital information that they became privy to as a result of being a part of the agreement...
So many persons see the Finance Bill as a welcome change in Nigeria Tax regime because of some of the favourable additions to the bill. Although there is a debate that the Increase in Value Added Tax from 5%...
The essence of an indemnity clause is to allocate risk from one of the contracting parties to the other. When an indemnification clause is inserted into a contract, it is meant to transfer risk between the...
Yes a foreigner can be a director in a Nigerian Company. Although there is no express provision for this in the Companies and Allied Matters Act 2004, the law also doesnot preclude a foreigner from being a...
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