Failure to keep books of accounts & records such as sale invoices, purchase invoices, credit & debit notes, customs entries, audited accounts, ledgers, cash books, bank statements, monthly Z returns, pay-in-slips and a summary of VAT Accounts for a minimum period of five (5) years.
Selective Issuance of Tax Invoices.
Charging VAT for non-registered entities.
VAT registered entity but with no ETR Machine.
Non-Filers (Income Tax, PAYE, VAT.)
Non availability of monthly Payrolls.
Non separation of business transactions from personal.
No regular Bank reconciliations.
Failing to pay Income Tax in instalments.
Failure to file directors returns.
Failure to manage Business Risks i.e. Insurance Covers, WIBA..
Failing to account for Withholding Tax on various payments made to Professionals, Consultants, Training firms, Management Fees, imported services among others.
Selecting wrong tax obligation at the point of TAX registration.