CAC Warns: Paying Tax Does Not Replace Filing Your Annual Returns
The Corporate Affairs Commission has reminded Nigerian business owners that tax payments and annual returns are separate legal obligations. Paying tax does not automatically confirm that a business is active on the CAC register. Annual returns are required from registered business names, companies and incorporated trustees, including NGOs, religious bodies and foundations. The filings help the commission keep business records current, even where an organisation made no income or was inactive during the period. Failure to file may attract penalties and, after a prolonged default, could lead to deregistration. An inactive CAC status can also affect access to loans, contract bids, corporate banking services and other official transactions. Business owners can file annual returns through the CAC online portal. The documents required may differ depending on whether the entity is a company, business name or incorporated trustee.
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