Msbbe Hub

I see people process certificates simply because another business owner told them:

You need it

Please, ask questions.

What type of business are you running?

What activity do you carry out?

Why is the certificate being requested?

Is it a regulatory requirement for your business, or is it connected to a particular opportunity?

The right compliance document for one business may not be the right document for another.

Understand what your business actually needs before spending money on certificates.

Some examples of the certificates and compliance documents people may come across include:👇🏾

Yesterday, I delivered two approved Incorporated Trustee registrations to one client.

One is a foundation and the other is a club.

The standard processing duration is 30 days, but these ones took 33 days because we had a query to respond to.

Both applications were eventually approved and delivered to the client.

It can be your turn too.

If you need to register a foundation, club, church, association or other Incorporated Trustee, send me a DM or WhatsApp.

You have your CAC certificate. Good.

But what else does your business need?

Depending on what your business does, there may be other regulatory and statutory requirements you need to meet.

CAC registration is not the end of your business compliance journey.

Know what applies to your business and get it done.

A company can change after incorporation.

Directors can change.

Shareholders can change.

Business information can change.

Registered details may need to be updated.

This is why post incorporation matters.
Don't assume that because the company was registered correctly five years ago, nothing needs to be done again.

Your company can change over time. Your corporate records should reflect the changes properly.

Need help with change of Director, details, Shareholders, Change of Objects of memorandum and more, call/Whatsapp 07011190060 to get started.

You registered your business with CAC.
But what about your tax side?

REV360 is the Nigeria Revenue Service's online platform for managing tax affairs.
It supports tax related services such as filing, payments, tax profile management and checking tax obligations.

If you remember TaxPro Max, REV360 is the newer system that replaced it.

CAC registration is one part of compliance. Don't ignore the tax side.

I hope you understand.

Happy Friday 🙌🏾

You registered your business with CAC. What about your tax side?

A lot of business owners know they need to register their business with CAC, but many don't know that there is another important side of running a registered business: tax compliance.

This is where REV360 comes in.

So, what is REV360?

REV360 is the Nigeria Revenue Service's online platform for managing your tax affairs.

If you have heard of TaxPro Max before, REV360 is the newer system that replaced it.

Through REV360, taxpayers can manage things like their tax profile, file returns, make tax payments, check their tax obligations and access tax clearance services.

Now, why should you care?

Because having a CAC certificate does not mean your tax obligations are automatically taken care of.

You may have a registered business today and still have tax registration or filing obligations that you haven't attended to.

And the painful part is that some people only start checking when they urgently need a Tax Clearance Certificate, want to pursue a government opportunity, need certain business documentation or are asked to provide evidence of tax compliance.

By then, you may discover that something needs to be fixed.

So, who should pay attention to REV360?

Business owners and other taxpayers who have tax obligations should ensure their tax affairs are properly set up and kept up to date.

If you have a business registered with CAC, don't only ask:

Is my CAC registration active?

Also ask:

What is my tax status?

Is my tax profile properly set up?

Do I have outstanding returns?

Are there tax obligations I should be attending to?

Don't wait until you need a document before you start checking.

Business registration is one part of compliance. Tax compliance is another.

Know where your business stands.

If you're yet to enroll for Rev360 or not sure about your tax compliance status, this is a good time to check rather than wait until there is an urgent need.

One thing I take seriously when it comes to post incorporation is doing my findings properly.

I won't just wake up one day and process the removal of someone from a company, only for the person to later come back with issues because they were removed without their knowledge.

Imagine being a director, shareholder, or trustee in an organisation and finding out by yourself that your name has been removed.

This is why I always say, follow the proper protocols.

Before removing someone as a director, shareholder, or trustee from your organisation, make sure the right process is followed and the necessary parties are properly informed where required.

At Msbbe, we do our findings before processing post incorporation changes. We don't just file because a client says, "Remove this person"

We check, we ask questions and we make sure the proper process is followed.

Because doing it right is better than dealing with the consequences later.

Thank you.

If your business was incorporated between 2020 and 2024 and you haven't filed your annual returns even once, you're taking a risk.

The longer you ignore it, the more penalties and outstanding obligations may pile up, and your company could eventually be struck off the register.

If your CAC dashboard is showing INACTIVE, don't ignore it.

File your annual returns and work towards getting your business back to ACTIVE status.

Need help with your annual returns? Send me a DM.

Welcome to September. May this month bring you good news, new opportunities, more wins, and progress in your business and personal life. As you work towards your goals, do not forget those important things you have been putting off. Let's get things done this month.

Have a beautiful September.

PROCRASTINATION CAN DELAY THE ORGANISATION YOU ARE TRYING TO BUILD.

You have the vision.
You have the people.
You have the purpose.

What is stopping you from giving the organisation the right legal structure?
If you run an NGO, foundation, club, church, mosque, association or community organisation, Incorporated Trustee registration can help you formalise your organisation and position it for long term operations.

Don't keep saying, "I will register it later"
Start building the organisation you have been talking about.

Incorporated Trustee registration available at Msbbe Hub.