This book is written to serve as a guide for small and medium scale enterprises requiring a basic understanding of how tax audit is being conducted in Nigeria. Like most small business owners and self-employed individuals, you are probably more concerned about the day to day issues of running your business rather than trying to figure out how a proper tax audit is being conducted in Nigeria.
Doing business in Nigeria is a herculean task on its own let alone combining it with the various ambiguities in the Nigerian tax laws. It is the truth that taxes can be a lot confusing for business owners especially those who lack the necessary knowledge to navigate the different tax terms, laws, and regulations of the country. For any business owner in Nigeria, whether big or small the normal thing to do in a recession is to reduce tax liability but how can you reduce tax when you don’t have an idea of what could likely trigger an audit or the risk exposure in your chosen business niche?