Overview of the TaxNet Platform

TAXNET platform combines leading edge artificial intelligence with
process automation to mine tax relevant data (from businesses, payment gateways, customs etc.) and then
process, collect and report this data across all sectors including digital/online space

Automatic Extraction of Transactions

With our universal adapter, transactions occurring offline are automatically extracted from the Backend systems of participating companies via API

Automatic Billing of VAT/WHT Transactions

On the 1st day of every month, all vatable transactions extracted from each company are automatically compiled into bill of 7.5% value. WHT liable transactions are also compiled into a bill of 5% or 10% as the case my be

Direct Debit of VAT/WHT Credited to FIRS CBN Account

On the 21st day of the month, a direct debit instruction is issued to sweep the amount billed to FIRS’s CBN account.