Call Us : +234 7068750352 BIZGLOBAL ASSOCIATES see our corporate services
3days maxi delivery services within lagos
Place An Order

Frequently Asked Questions

We try to give answers to most relevant questions from our clients.It is necessary that our prospective clients takes a review to these questions and their respective answers as this will help in sentizing them about the operations of BIZGLOBAL. We try to serve you better through these awareness and hope you will feel free to contact us on new questions that are not treated in our list

For easy access and navigations we have tried to classify these questions under the following sub-headings

Frequently asked questions on business registration with cac
cac-logo
  1. what are the requirements for registering a business name?

    2 selected proposed names of the business for search
    1 recent passport photograph
    1 valid means of identification e.g voters card, drivers license, etc
    nature of the business or business objective
    particulars of the proprietors(full name, age, phone, state of origin, residential address, occupation, email and signature.)

  2. what are the requirements for incorporation of companies?

    2 selected proposed names of the business for search
    1 recent passport photograph
    1 valid means of identification e.g voters card, drivers license, etc
    nature of the business or business objective
    particulars of the proprietors(full name, age, phone, state of origin, residential address, occupation, email and signature.)

  3. what are the differences between business registration and company incorporation?

    Business name indicates that the business registered with CAC and it's legal to operate in Nigeria whereas business (company) indicates it is a legal entity distinct from its owners. It can sue and can be sued in its own name.

  4. what is the minimum and maximum duration for business registration and company incorporation?

    2 weeks minimum and 3 weeks maximum for business registration. where as in the process of company incorporation it takes a minimum of 3 weeks and maximum of 1 month or more.

  5. what are incorporated trustees?

    Incorporated trustees are non profit making organisation e.g churches, mosques, clubs, foundation etc.

  6. what is trade mark?

    Trade marks are trade names attached to individual products of a firm to distinguish it from other products of like industries or firms e.g Dangote flour, Dangote cement.

  7. what are the requirements for registration of trade mark?

    Name of product, type of product, name of company, address of company, email and phone number.

  8. What is annual return?

    Annual return is a mandatory requirement an enterprise, private or public company or incorporated trustees must file annually as return to the CAC as an indication that the organisation or business is still in existence.

  9. What are the requirements for filing annual returns?

    Company name and registration number, details of share capital(if any), particulars of directors.

  10. What are the benefits of registering a business name?

    It gives you identity name
    It gives you credibility, reliability and then partnership
    It makes your business legal to operate in the eyes of the law
    Enables you to open a corporate account, access grants and loans.

  11. what are the benefits of incorporating a company?

    It is a legal entity distinct from its owner
    Owners can acquire and sell assets in the company's name
    Enables you to own a corporate account.
    Company can secure government contracts, loans and grants.
    It's liabilities are limited to the number of shares undertook by its directors.

  12. Do you issue company seal and stamps?

    Yes

Frequently asked questions on web development, advert placement and e-commerce
user-image
  1. what is the minimum charge you use to design a website?

    ₦ 15000

  2. what is the cost of hosting a website?

    It varies depending on the hosting plan selected and the hosting company but the minimum charge is ₦ 7500
    (service charges not applicable)

  3. Do you also manage people's website?

    Yes we do depending on the agreement you reach with us.

  4. What is the maximum duration of designing a website?

    3 weeks but can still vary depending on the nature of the website.

  5. How long does it take to renew a website?

    1 year

  6. What are the requirements for designing a website?

    Company or business name, company logo, information and details about the company/business, company product and services etc.

  7. What is the cost of advertising products and services on your website?

    for now, minimum charge of ₦ 5000 (1 month)

  8. What is the cost of running a facebook ad on your social media page?

    Depending on the period and advert plan, but we give at the minimum charge of ₦ 5000 for a month.

Frequently asked questions from our valued customers trading with us
user-image
  1. what is the delivery period of goods purchased from your social media platform?

    3 days maximum within lagos and 1 week maximum outside lagos.

  2. Do you have any direct products you sell?

    For now No. We only render affiliate marketing.

  3. where are your dealers located?

    Currently our dealers are located mainly within lagos and the south east environs.

  4. Do you accept products and services online for sale on your platform?

    Yes

  5. What ranges of goods do you deal on?

    You can check them under our product list.

  6. what if I have issues relating to online payment or delivery of goods and services already paid for?

    You can reach us on our hotline on 07068750352 or email us at bizglobal.ng@yahoo.com

  7. Do you have any limitation to areas where you deliver goods and services?

    It will be based on the agreement we have with our dealers and delivery agent on the delivery of such goods and services.

  8. What brand of goods do you sell(fairly used or new products)?

    We sell both depending on what you want.

Frequently asked questions on TAXATION
firs-logo
  1. what are vatable goods?

    All goods manufactured/assembled in or imported into Nigeria, except those specifically exempted under the law. some examples include jewelries, shoes, bags, television etc.

  2. what are vatable services?

    All services rendered by any person in Nigeria except those specifically exempted under the law. Some examples of vatable services include services rendered by lawyers, engineers, accountants, contractors and consultants.

  3. What are exempted goods under Value Added Tax (VAT) Act?

    Exempted goods are those goods which are not subject to VAT e.g Food items, medical and pharmaceutical products, books and educational products, baby products, fertilizer, plant and machinery.

  4. what are exempted services under VAT Act?

    Exempted services are services that are not VATABLE i.e not subject to 5% VAT these include: medical services, services rendered by community banks, all exported services, people's banks and mortgage institutions, plays and performance conducted by the educational institution as part of learning.

  5. What is the due date of filing VAT Returns?

    The due date for filing VAT is 21st day of every month following month of transaction.

  6. Is VAT registration for individual or corporate bodies?

    It is for all so long as they are trading on goods and services as defined by law.

  7. what are the penalties for non-registration of VAT?

    Failure or refusal to register with the board within the specified time. The tax payer shall be liable to a penalty of ₦ 10,000 for the first month in which the failure occurs and ₦ 5000 for each subsequent month in which the failure continues.

  8. what is TIN?

    TIN is an acronym for Tax Identification Number. It is a personal identification number assigned to individuals, corporate organisation by the Federal Inland Revenue Services(FIRS) for use in tax assessment, payment and process of obtaining a Tax Clearance Certificate(TCC).

  9. What are the requirements for securing a TIN?

    Original certificate of registration for review and photocopy for file documentation
    Complete VAT registration
    An application addressed to the tax controller with the company's letter head.
    Photocopy of utility bill
    Company seal/Stamp.

  10. Do incorporated trustees also pay tax?

    Incorporated trustees are not taxable.

  11. what are the percentage of charges issued by FIRS on VAT, CIT and Education Tax?

    Vat -5%, CIT -30%, EDT -2%.

  12. what are the classes of Tax paid by both small business and companies?

    Small businesses(enterprise) pay only VAT 5% of income realised monthly.
    Companies(big businesses) pay VAT, CIT & EDT. Company Income Tax and Education tax are paid once in a year after the filing of tax returns and preparation of annual account.

Post a question

© 2019 BIZGLOBAL. All Rights Reserved | Design by BIZGLOBAL DEVELOPERS TEAM