As the nation intensifies its drive for non-oil revenue, some resourceful citizens are already providing solutions to assist fellow Nigerians and their businesses overcome the challenges of tax compliance.
Courtesy of Vi-M Professional Solutions, a professional services firm registered in Nigeria, you can now compute your Value Added Tax (VAT), Withholding Tax (WHT), run your payroll and compute Pay-As-You-Earn (PAYE) tax/pension deductions every month for free on www.vi-mtaxassist.com.
Tax Assist is a web based software that not only calculates and helps remit taxes, but teaches and helps entrepreneurs find out how these taxes work. Reports of the calculated taxes are generated in the statutory tax filing formats to make it very much easier for the calculated taxes to be remitted. These reports can be archived for future downloads if the user so wishes.
To use Tax Assist, visit the URL- www.vi-mtaxassist.com, click the login/sign up button on the upper right corner of the page, register as an individual or organisation. Afterwards, confirm your email address from your email inbox and login again on the website to access the software.
Tax Assist is part of Vi-M Professional Solution’s corporate social responsibility initiatives.
To complement this software, all the Nigerian tax related laws have also been compiled by the same professional services firm (Vi-M Professional Solutions), in an easy to read and navigate mobile app (although this comes with an affordable price tag) . The name of the app is Tax Law Book, and is available for download from Google play. Users can search google play store for ‘Tax Law Book’ or simply copy this link to your browser play.google.com/store/apps/details?id=com.vi_m.tax
This app is also the first of its kind in Nigeria and can serve as an easy reference material in growing tax knowledge and in ascertaining whether any tax imposed on the user, as a taxpayer, is lawful or correct.
It is certain that these two unique innovations will help a lot of Nigerians and their businesses, particularly SMEs, to navigate the challenging Nigerian tax terrain and the already intensifying efforts of the government to generate more revenue from taxes.