• its all about

    Automatic Upload of your Transactions

    Taxable transactions occurring in your backend accounting system are automatically reported to Taxnet using our API at close of business every Friday

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  • its about about

    Automatic Billing of your VAT/WHT Transactions

    On the 1st day of every month, all vatable and withholding tax transactions compiled your backend accounting system for the previous month are automatically billed at the prevailing VAT/WHT rate.

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  • it involves

    Direct Debit from your tax account for VAT/WHT Liabilities Credited to FIRS

    On the 21st day of the month, a direct debit instruction is issued to sweep the your VAT/WHT liabilities for the previous month to FIRS’s CBN account. You can also opt to pay this bill yourself on the platform on or before 21st of every month.

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User Friendly

User Friendly

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Easy to Translate

Easy to Translate

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Detailed Documentation

Detailed Documentation

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Easy Setup

Easy Setup

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Growing Your Business

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Our Process

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1. Transactions

1. Transactions

Via our API, we automatically collect weekly transaction data that are subject to VAT or WHT from your backend accounting system.

To achieve this, we will work with your technical team to do a very light weight integration between TaxNet and your accounting system, so that weekly taxable transaction data can be automatically sent to TaxNet. This data is what is used to calculate the VAT/WHT amount payable

2. Billing

2. Billing

On a monthly basis, all your taxable transactions captured will assessed and billed to you at the applicable VAT/WHT rate. This bill can be accessed within the TaxNet platform, but as a convenience, the same will also be sent to you as an email.

Note: You will have a week to either accept this bill or contest it.

Once you accept this bill, you can proactively pay it directly by using the bills Remita Retrival Reference Number (RRR), see: Remita > Pay an Invoice

3. Bill Contest

3. Bill Contest

Optional

If you feel that the assessed tax amount payable is incorrect in the bill you received, you can always contest it by logging into the TaxNet platform and raising a bill dispute. Once you raise a dispute, a representative from FIRS will promptly provide feedback, and both of you will work together until the issue has been resolved.

Note: All disputes must however be resolved within two weeks

4. Direct Debit

4. Direct Debit

21 days later, we deduct the amount due to FIRS via direct debit. To enable us deduct the amount due automatically, we would need you to designate a bank account for FIRS payments and set up a Direct Debit mandate for that account with Remita. p>

Note: You do not need to worry, we will only deduct amounts for bills that are deemed okay between you and FIRS

Business Consultant

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Business Owner

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Customers Testimonials

Lisa Kimberly

Developer / Pexeto

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John Doe

Web Developer / Apple

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