"TIPS FOR LAWFUL BUSINESSES IN NIGERIA"

By 

ONYEKACHI UMAH, ESQ., LL.M, ACIArb(UK)

“Legal Framework and Institutions For Economic Empowerment In Nigeria.”

By 

ONYEKACHI UMAH, ESQ., LL.M, ACIArb(UK)

DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 159)
“Unlike A Company, A Business Name Cannot Own Land In Nigeria”.

Like a human being, a company is a corporate being that can own property, sue and be sued. A business name is neither a human being nor a corporate being that can own, acquire, maintain and sell a land or landed property in any part of Nigeria.

My authority is section 37 of Companies and Allied Matters Act.

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"NIGERIAN BUSINESSES AND THE NEED FOR CORPORATE, COPYRIGHTS, TRADE MARKS, INDUSTRIAL DESIGNS AND PATENTS REGISTRATIONS"

 By 

ONYEKACHI UMAH, ESQ., LL.M, ACIArb(UK)

DAILY LAW TIPS
by Onyekachi Umah,Esq.
(Tip 141)
“Value Added Tax (VAT); Who Pays and Who Collects.”

Value Added Tax (VAT) is an indirect tax paid to Federal government of Nigeria on certain specified consumed goods and services. It is payable by the final consumer of such VATable goods or service. It is presently calculated at 5% of final value of VATable goods and services. It is payable to Federal government of Nigeria, only. Businesses, companies, individuals, partnerships and business names located in any part of Nigeria that deal on VATable goods and services are to charge VAT on them, receive VAT from consumers and then remit such to Federal Inland Revenue Services(FIRS) every month.

My authorities are sections 4, 8, 12, 14 and 15 of the Value Added Tax Act.

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