Tax planning strategies is an important aspect of running a small business in Nigeria. with the right strategies, you can reduce your tax liability and keep more of your hard-earned profits.
As an introduction, Tax planning is the process of managing your finances and business operations in a way that minimizes your tax liability while maximizing your after-tax profits. It involves reviewing your financial situation, analyzing the tax implications of your business decisions, and taking steps to reduce your tax burden legally.
The goal of tax planning is to optimize your tax situation and ensure that you’re taking advantage of all available tax-saving opportunities.
On this 19th series of ‘A Stitch In Tax, Saves Cash’, I touched on key areas of MSME setup in Nigeria, the Nigerian Govt support programmes and policies for MSMEs as well as tax planning strategies that fosters growth for your Micro Small & Medium Enterprise.
Watch the video below:
Tax Planning Strategies for Small Business Owners in Nigeria
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