Tax, legally and very simplistically, is a compulsory contribution paid to the government by its citizens to support social amenities such as schools, electricity, portable water, roads, and hospitals, etc.
There are a number of questions that people usually are curious to know. Questions such as what is personal income tax? What are my rights as a taxpayer? What are my obligations as a taxpayer? Is it only public servants that pay tax? Who pays personal income tax? How do I pay personal income tax? What are the general requirements for tax filing and payment of tax under the Personal Income Tax Amendment Act (PITAA)? What are the obligations of an employer as regards tax? On what source of income do we tax Nigerian residents? How do non-resident Nigerians pay their tax? Are musicians, actors, and sportsmen taxed? What is income earned abroad and foreign source income? What is a domiciliary account? On what type of earning or income do we pay personal income tax? Which income or earnings are exempted from personal income tax?
This set of questions will be answered and explained in this series.
Watch the full video on YouTube by clicking the link below.
https://youtu.be/I2sIjt3Fph4
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