Lifeedge Consulting offers comprehensive business support services to help small and medium enterprises (SMEs) and entrepreneurs establish, grow, and streamline their operations. We understand that the journey to business success starts with a strong foundation. That’s why we are ready to provide reliable and efficient services that ensure your business is fully compliant and equipped to grow. From business formalization to tax compliance, we are here to guide you every step of the way.
Our business support services include:
Business registration/company incorporation
Business registration is a fundamental process that every entrepreneur must undertake when setting up a new business. It involves official and legal recognition by a government authority, which grants it the right to operate within a specific jurisdiction. This process is crucial for a business’s legal identity, ensuring compliance with tax regulations and protecting its name and brand.
Types of business registration in Nigeria
Benefits of business registration for businesses
Business formalization
Business formalization is the establishing and implementing formal rules, procedures, and guidelines within an organization and ensuring that your business is compliant with all legal requirements. It involves the creation of clear and defined structures and processes that guide employees’ behavior and activities.
Benefits associated with formalizing your business
Tax identification number processing
A Taxpayer Identification Number (TIN) is an eight-digit number issued by the Federal Inland Revenue Service (FIRS) to identify individuals, businesses, or entities in tax documents. The Finance Acts (2020) mandate TINs for companies under section 10 of the CITA, and they are required for bank accounts and transactions with government agencies.
Tax clearance: A tax clearance certificate (TCC) is by a revenue authority to show that a person has paid taxes in full or that no tax is due on such profits or income. In Nigeria, the FIRS and the relevant State Internal Revenue Service issue TCC to taxpayers annually. However, a taxable person needs to apply or initiate a request for TCC.
Benefits of a tax clearance certificate:
Ownership of a valid TCC is compulsory when a taxable person wants to carry out specific transactions in Nigeria. The transactions include an application for;
