Hey there

This is for my Nigerian peeps....

So yesterday was fun...

Aside from woking on the tool I shared with you yesterday...

I spent the day in conversation with Tax consultants about the NTA 2025...

AKA...

The heart burn inducing Nigeria Tax Act 2025.

I learned a few interesting details concerning us...

Now please understand that in sharing this...

First...

I don't have sense.

#selah

Meaning I am not a profession in the space...

Not a Tax consultant and certainly not a lawyer.

So listen to me at your own risk.

#sipscoffee

So the main gist is this...

If you are in the consulting space...

Aka...

Coaching, training, advisory service etc...

You are not regarded in Nigeria as a small business and as such the tax free benefit for companies under N50m in revenue does not apply to you.

You will be required to pay the full 30% corporate income tax and 4% development levy....

Whether you make money or not.

But then when you consider that it's 30% and 4% respectively on assessible profit....

It's not so bad...

No profit...

Tax and development levies = zero.

That said...

The play accorrding to the experts I spoke to would be to go with a sole proprietorship till you are past N150million in annoual revenue...

Which is about $100000 depending on the exchange.

So pretty much you don't complicate your life until you absolutely have too.

That said...

There are pros and cons to this which I can't get into just yet...

Mainly because right now I'm oddly very hungry...

Anyways...

My point is...

Context matters in the decisions that you make.

Don't make a decision simply because the masses are echoing it...

Or even because I said it

#shudders

Get smart quailfied advice for your context.

Even better...

Get to understand the tax laws for your self.

So that you have context for what questions to ask the professionals.

And so with that in mind...

I've created for my clienst at IST...

Something I call...

The Nigeria Tax Insight Wizard.

It's an agent specific cally designed to help you understand the NTA as it affects you as a Tribemaster...

I figured it be fun to have something you can talk to rather than having to read all 250+ pages like I have - twice!

Anyways...

It's available to my clients for free as part of their benefits for being members of IST...

Can you access it without being a member of IST?

Sure...

For a one time investment of N25,000 or $20

Interested?

Let me know.

Gotta go now.

Till tomorrow

Get out of your own way.

CTM