Question 1

When is the deadline for filing annual tax returns in Nigeria?

Accepted Answer

For individuals, personal income tax returns are due by March 31st of each year. For companies, returns are due within 6 months of the company's year-end.

Question 2

What documents do I need to register an LLC?

Accepted Answer

You'll need valid means of identification for all directors/shareholders, passport photographs, proof of address, and your proposed company name.

Question 3

How long does LLC registration take?

Accepted Answer

Typically, the CAC registration process takes 7-14 business days once all documents are submitted. Name reservation takes 1-2 days.

Question 4

What's the difference between an LLC and a Business Name?

Accepted Answer

An LLC (Limited Liability Company) is a separate legal entity that protects your personal assets from business liabilities. A Business Name is simply a trading name registered to you as an individual—your personal assets remain at risk.

Question 5

Do I need to file taxes if my business made no profit?

Accepted Answer

It depends on your company size. Under the Nigeria Tax Act 2025, small companies with gross turnover not exceeding ₦50 million are exempt from Company Income Tax. However, larger companies must still file returns even with no profit.

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