Digital Quill

HOW THE NIGERIAN FG TAXES SMALL BUSINESSES IN THE NEW TAX ACT

Presumptive Tax is the government’s way of saying:

“Since many small businesses and artisans don’t keep full financial records, we will estimate your income and tax you based on that estimate — instead of waiting for detailed accounts you may not have.”

Download easy-to-understand Tax PDF: selar.com/u72797gdx5

Here’s the simplest way to understand it:

If you run a small shop, salon, food business, welding workshop, POS stand, tailoring shop, or any hustle where you don’t keep full books, the tax office will look at:

* The type of business you do
* Your location
* Your average daily sales
* What similar businesses in your area earn

Then they will guess (presume) your likely profit and charge you a small, fixed tax based on that estimate.

It is not meant to punish small businesses — it is simply the government’s shortcut to bring the informal sector into the tax system without stressing people to produce documents they don’t have.

So in short:

Presumptive Tax = “Government will estimate your income and charge you a simple, predictable tax so you don’t need complicated accounting.”

If you don’t have proper records, presumptive tax is the easiest way to comply with the new law.


If you do have good records, you can choose a normal tax assessment instead.


Get my PDF Slide that explains more about the New Tax, explained for Small Business Owners, Salary earners, and ordinary Nigerians out there:

selar.com/u72797gdx5

4 weeks ago | [YT] | 1

Digital Quill

Think of Withholding Tax (WHT) like someone helping you pay part of your tax in advance, whether you planned for it or not.

Here’s the simplest way to understand it:

When a person or company wants to pay you for something — maybe rent, a contract job, interest on a loan, or a service — they don’t give you the full amount.

They remove a small percentage (like 5% or 10%) and send that part straight to the tax office on your behalf.

Example:
If you’re supposed to be paid ₦100,000, and WHT is 10%, they give you ₦90,000, and the remaining ₦10,000 goes to the government as your “advance tax.”

Now here’s the key:
WHT is not an extra tax.
It’s simply an early installment of your normal annual tax.

At the end of the year, when your total tax is calculated, the government subtracts all the WHT you already paid.
If you’ve paid too much in WHT, you can claim a refund or credit.
If you paid too little, you pay the balance.

The new tax law now reduces how heavy this WHT deduction feels for mall companies, meaning they get to keep more of their cash when payments are made to them, which improves their cash flow and reduces stress.

In essence, WHT is the government collecting your tax bit by bit in advance so you’re not hit with one big bill later.

Get my easy-to-understand guide on how the new tax act affects you as an ordinary Nigerian and a small business owner:

selar.com/u72797gdx5

#nigeriataxupdate #TaxReform #BusinessTaxSolutions #business

4 weeks ago | [YT] | 4

Digital Quill

Hey, My People!

The Nigerian tax law has changed again — and many people don’t understand how it affects their salary or business!

So I created a simple guide that explains everything in plain English.

🔗selar.com/u72797gdx5

If you earn money in Nigeria, this ebook will help you avoid mistakes and protect your income.

I made sure it's very easy to read, presented in slides with relatable illustrations, and straight to the point. You will have fun reading (or should I say viewing)!

📘 Download the New Nigerian Tax Act Guide 2026 (very easy to read).
If you run a business or work anywhere, you’ll benefit.

HERE IS IT: selar.com/u72797gdx5

Let me know what you think about the book after reading through it

Skip the Carousel

1 2 3

1 month ago | [YT] | 4

Digital Quill

*Revised Fee Structure for CAC Services Effective August 2025 (Copied)*



Find below an extract of the revised fee structure for CAC services:


✅Download short easy to easy-to-understand Tax ebook
🔗selar.com/u72797gdx5

1. Business Name Registration
- New Fee Structure:
- Name Reservation: ₦1,000
- Registration: ₦20,000
- Total: ₦21,000
- Old Fee Structure:
- Name Reservation: ₦500
- Registration: ₦10,000
- Total: ₦10,500
- Difference: ₦10,500 (100% increase)



2. Limited Company Registration
- New Fee Structure:
- Name Reservation: ₦1,000
- Registration (1 million share capital): ₦20,000
- Total: ₦21,000


- Old Fee Structure:
- Name Reservation: ₦500
- Registration: ₦10,000
- Difference: ₦10,500 (100% increase)



Additional Notes for Limited Companies:
- For share capital exceeding 1 million, the registration fee is calculated as follows:
- 2 million share capital: ₦30,000
- 3 million share capital: ₦40,000
- 4 million share capital: ₦50,000
- This pattern continues with an increment of ₦10,000 for every additional 1 million in share capital.
- Stamp duty fees remain unchanged unless there are future adjustments to the VAT rate.



3. Incorporated Trustee (NGO) Registration


- New Fee Structure:
- Name Reservation: ₦5,000
- Registration: ₦40,000
- Total: ₦45,000
- Old Fee Structure:
- Name Reservation: ₦5,000
- Registration: ₦35,000
- Difference: ₦5,000 (12.5% increase)



4. Annual Returns
- Business Name:
- New Fee: ₦5,000 (40% increase)
- Limited Company:
- The new fee structure is based on turnover:
- ₦100,000 to ₦100 million: ₦5,000
- ₦100 million to ₦500 million: ₦100,000
- ₦500 million to ₦1 billion: ₦150,000
- Above ₦1 billion: ₦200,000


- Incorporated Trustee:
- The fee remains unchanged.

Note: The above fees are exclusive of bank charges.

3 months ago (edited) | [YT] | 12

Digital Quill

The Corporate Affairs Commission (CAC) has just released the updated fee for all Business applications on its portal.

So, whether you are registering a CAC Business Name, a CAC Company (LTD), a CAC Incorporated Trustees Registration, or others, please take note.

Revised Fee Structure for CAC Services


Business Name Registration
New Fee Structure


Name Reservation: ₦1,000


Registration: ₦20,000


Total: ₦21,000


Old Fee Structure


Name Reservation: ₦500


Registration: ₦10,000


Total: ₦10,500
Difference: ₦10,500 (100% increase)

Limited Company Registration


New Fee Structure


Name Reservation: ₦1,000


Registration (1 million share capital): ₦40,000
Total: ₦41,000


Old Fee Structure
Name Reservation: ₦500
Registration: ₦20,000
Difference: ₦20,500 (100% increase)

Read the full price list breakdown on our website here: cidimarketing.com/cac-updated-fees/

4 months ago | [YT] | 8

Digital Quill

Hello, Business Owner and CAC Registration Agents, do you want me to come live on YouTube to discuss CAC registration issues and matters arising? IF YOU ARE INDIFFERENT, DON'T BOTHER TO GIVE AN OPINION. IF YOU ARE INTERESTED, THEN IF I COME LIVE ON YOUTUBE TO TALK ABOUT CAC REGISTRATION MATTERS, WILL YOU ATTEND THE LIVESTREAM?

6 months ago | [YT] | 6

Digital Quill

What kind of content will you want to see from me between now and the end of December?

1 year ago | [YT] | 2