What Entrepreneurs Should Know About Taxation

 

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I was having a conversation with a close friend; for the purpose of this write-up I will call her Patra. Patra and I have been friends for over 5 years. We met while I was in my second year in University. She was one friend that did everything better than me, from being a star student to being the best club hopper and now as a business woman she was very successful. She is that friend that challenges me.

The other day while we discussed on the state of Nigeria, since that is all there is to talk about these days; from fuel scarcity, potential increase in VAT, Ben Murray-Bruce’s ‘Common Sense’ epistles to Governor Fayose’s outbursts about the APC government and its officials, I casually asked her if she paid her taxes.

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