Tax Pro Max is the new portal for filing taxes in Nigeria. The Tax Pro Max Portal was introduced by the Nigerian government to digitalize the process of tax filling in the country for proper documentation and easy access by individuals or companies.
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The portal which was launched and made available to the public on the 7th of June 2021 for filling all Naira-dominated taxes in Nigeria is fully operational and ever since then, the FIRS has been improving the portal with new developments and updates.
Following the finance act of 2020 which gives the federal Inland Revenue Service (FIRS) the mandate to make all the services being offered by FIRS automated for tax filing and payment processing in the country, the FIRS has made the Tax Pro Max Portal accessible and easy to use for filling Tax returns for VAT and CIT.
During the migration of the federal inland revenue to the online tax filing platform (Tax Pro Max), there was some pandemonium in the country in regards to the migration of the platform. A lot of individuals were finding it difficult to use the new system to enter their taxes.
This confusion was one of the major reasons why the FIRS was unable to generate adequate tax revenue for June 2021. Some experts criticize the system stating that the FIRS will not be able to generate 50% of the tax that is expected of them in June 2021.
In today’s article, We’ll be covering almost everything about Tax Pro Max, How To Fill a Tax using Tax Pro Max Portal, The Major Requirements For Filling Tax, How To Fill Value Added Tax, Requirements For Filling Company Income Tax(CIT).
Besides that, we will also focus on how to set up your Tax Pro Max account in a step-by-step method together with other tax-related activities.
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What Is Tax Pro Max?
Tax Pro Max is an online digital platform owned by the Nigerian government under the FIRS for filing taxes in Nigeria. The portal allows you to seamlessly register, file returns, remit taxes, carry out assessments and keep track of tax obligations, manage withholding tax deductions, manage capital allowance and loss, download tax clearance certificates, and communicate with the FIRS on tax issues, among other things.
How To Use Tax Pro Max
For you to use the Tax Pro Max Service or Portal, you’ll need to ensure that you have a valid account for filing taxes which you’ll need to create by visiting the FIRS office.
With your account, you can generate your Document Identity Number by filing your tax. This DIN will be used for remitting taxes via the portal.
How TO Login To Tax Pro Max Portal
To login on to the Tax Pro Max Portal, you must have an account with Tax Pro Max which you’ll have to create by visiting the office of the FIRS close to you to create your account. Once your account has been created and verified by the FIRS, you can go ahead and visit https://taxpromax.firs.gov.ng/taxpayer/login to log in by entering your email address and a valid password.
On successful login into your account, you can then have access to your dashboard to perform various tax-related activities.
Tax Pro Max User Guide (Download)
The Tax Pro Max user guide will allow you to learn how to carefully fill in your VAT or CIT without any problem. This guide was explained using image illustration to show you how it is done if it is your first time.
What Can You Do With Tax Pro Max Portal
There are different things you can do on the Tax Pro Max portal. With the Tax Pro Max account, you can perform various activities. Below are a few of them
- Register, file returns, remit taxes
- Carry out assessments and keep track of tax obligations
- Manage withholding tax deductions
- Manage capital allowance and loss
- Download tax clearance certificate
- Communicate with the FIRS on tax issues, among other things.
What Are The Requirements For Filling Value Added Tax (VAT)
With the new development and update on the Tax Pro Max platform, you can easily file your tax returns on Tax Pro Max Portal without any stress by following the step-by-step instruction below.
- As a Taxpayer, you’re expected to visit the local office of the Nigerian Federal Inland Revenue Service to have access to your tax update form.
- After doing that, you’ll need to visit Tax Pro Max portal at https://taxpromax.firs.gov.ng to login into your account using your user details. On successful login, you’ll have access to your dashboard.
- make sure you click on taxes due and select the type of tax you’ll want to file.
- Click on “Process” to get started
- Fill in the schedules as required including sales adjustment, exemption, and zero-rated goods and services.
- Click on “Add Record” and then “Proceed”
- The VAT form will load after a user has completed all schedules
- Under “Returning Currency”, select the currency type.
- Insert the Total Sales/Income Exclusive of VAT
- Tick the box for the declaration form
- Confirm all entries before submission
What Is The Requirement For Filling Company Income Tax (CIT)
To fill your company income tax, follow these steps carefully to ensure you don’t make any mistakes.
- Log in to https://taxpromax.firs.gov.ng on your browser
- Click “Taxes Due”
- Under the Action column, click on “Process” and it will take you to Schedules
- The Company Income Tax (CIT) form will be generated and displayed after the completion of all the schedules.
- Select the currency type (i.e. NGN, GBP, USD, CFA, EUR), under “Returning Currency”
- Insert the total revenue amount on the first box of the generated form. This will automatically fill the remaining pre-fill boxes.
- Beneath the generated CIT form, click on “Declaration” to declare that the information is correct and by the relevant Tax Act.
- Select payment options; Full-Payment, 2 installments, 3 installments, or 4 installments, accordingly.
- Click on “Submit”
- On the Company Income Tax Assessment Page, click on Review the CIT assessment
- Click “Proceed to Payment”
- On the CIT Assessment page, upload Audited Account, Tax Computation, Notes to Account, Memorandum, and Articles of Association
- Click on “Submit”
- All documents are to be uploaded in PDF format except Notes to the Account which is in excel format. The size of the files should not be more than 200kb
- Payment Session: On the CIT Payment page, go through the Description items and their corresponding amounts for payment
- Click “Process to Payment”
- On the Payment page, click on “Pay Now”
- Click the ‘Pay’ button.
- The system will automatically generate a Payment Reference code (RR).
- Two payment options will be available, i.e. ‘Pay online’ or ‘Pay at Bank’
- Pay online will automatically connect to the Remita platform by generating the payer’s name, phone number, email, amount, and reference code. You can pay the amount online or at any FIRS designated Bank and click submit.
- Confirm payment and print payment acknowledgment slip.
Things To Expect As A Tax Payer Using Tax Pro Max Portal
The FIRS is improving every day and always trying to catch up with other advanced countries. While in the process of doing that, they sometimes experience other issues which they try to solve periodically by making available updates to fix the platform.
As a taxpayer, company, or individual trying to use the Tax Pro Max portal, you might experience some major setbacks and other forms of disappointment trying to use the Tax Pro Max Portal as it is still a work in progress. Most of the glitches you might experience while using the Tax Pro Max platform are temporary and you can always check back and try again.
Another thing you might experience while using the Tax Pro Max portal is downtime errors or glitches most especially when the date of tax is due. Therefore it is advisable to always try and fill in your tax return before the due date to avoid experiencing such.
It is very important to Regularly visit the TaxPro Max website to check for any correspondence or assessment that may have been raised and the due date for a valid response or payment already counting against the company.
Conclusion
I believe that Tax Pro Max is the future of tax payment in the country and a greatly welcome development for transparency and accessibility for every business, individual, or organization operating in Nigeria.
The tax pro max portal is easy to use for tax entry. for more information on Tax Pro Max, you can check the official website of Tax Pro Max.
If you have any questions or inquiries, you can drop them in the comment section. We’ll try and respond to them as fast as we can.
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