FCMB Reassures Its Involvement In Growth of Businesses In Nigeria

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of...

You Should Totally Avoid These Words During An Interview

The job market is very competitive and getting an interview is a chance to let an employer or HR...
- Advertisement -
- Advertisement -

During its pledge to expand the scope and growth of businesses in Nigeria, especially Small and Medium Scale Enterprises (SMEs), First City Monument Bank (FCMB) will host a workshop on tax matters next week in Lagos. Involvement

The workshop, tagged, “Tax Enforcement and Implications on Businesses in Nigeria,” is pointed at providing entrepreneurs with the necessary information on taxation by advancing the exchange of ideas between tax regulators and businesses on surviving and developing tax matters to assure assent and avoid penalties.

The one-day seminar would have in attendance SMEs operating in various sectors, including, trading, manufacturing, agribusiness, renewable energy, creative industry, digital technology, healthcare, schools and individuals running businesses in their personal names or accounts. The Guest Speaker is the Director of Enforcement, Federal Inland Revenue Service (FIRS), Mr Emeka Obiagwu.

Read:  Oyo State: Churches, Mosques with revenue-earning businesses will pay tax

In a statement, FCMB said topical issues relating to the country’s tax system and laws as well as other fiscal policies that impact on the profitability and overall success of businesses would be discussed at the seminar by the guest speaker and other professionals. It would also provide an opportunity for entrepreneurs to understand their rights and responsibilities, especially as regards taxes, such as withholding tax and value added tax, among others. There would also be a session by FCMB Pensions Limited to enlighten participants on new pension initiatives in the country, the implications for SMEs and the attendant benefits.

Read:  FIRS Intends To Impose VAT On Online Transactions In January

Responding to inquiries about the seminar, the Executive Director, Business Development of FCMB, Mrs Bukola Smith, was quoted to have reiterated the commitment of the bank to go the extra mile to empower businesses with relevant technical and financial know-how that would boost their performance and contribution to national development. According to her: “As the dynamics of taxation continues to change in Nigeria, we recognise that many businesses, especially SMEs, in the country are not equipped with the requisite information and knowledge to discharge their responsibilities in this area appropriately.

Read:  FG Aim At Reduction In Shipping Value To Heighten Trade In Africa

“It is based on this reality that we decided to organise a seminar on tax matters, which will go a long way towards helping SMEs to understand taxation and the processes involved better.”

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Nigeria Customs Service receives N5.34billion from FAAC in September 2019

The Federation Account Allocation Committee (FAAC) disbursed the sum of N740.87bn to the three tiers of government in September...

Seplat Announces Q3 2019 Interim Dividend Currency Exchange Rates

Lagos and London, 12th November 2019: Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian independent oil and gas company listed...

Azura Power Invests In Tobene Power In Senegal, Brings Together Actis, Azura’s Majority Shareholder, With Africa50

The 115MW Tobene Power plant in Senegal, which was part of the Melec Power Gen (“MPG”) portfolio now forms part of Azura Power’s pan-African...

OPPO Mobile, Toke Makinwa Partner to Launch Reno2 Series Smartphones in Nigeria (Photos)

To unveil the high-end Reno2 Series, OPPO Mobile Nigeria recently announced a brand partnership with Nigeria’s leading fashion and style entrepreneur, media personality and...

More Articles Like This