Tax & Books Simplified For Businesses
Tax & Books Simplified for Businesses is a practical training designed to help SMEs, startups, bookkeepers, and business owners understand Nigerian business taxes and maintain simple, reliable financial records. The course covers VAT, PAYE, Withholding Tax (WHT), recordkeeping, bank and inventory reconciliation, credit sales, and financial reporting, with practical examples and tools to make tax and bookkeeping easier to manage.
Created by
Godson Osemene
This course includes:
- 📹 20 video lessons
- ⏱ 20h 00m on-demand video
- 📱 Mobile & desktop access
- 🎓 Certificate of completion
- ♾️ Lifetime access
Godson Osemene
1. Bachelor of Technology degree, (Combined Honors) in Agricultural Economics & Extension Services - Federal University of Technology Owerri Nigeria
2. Post Graduate Diploma in Tax Administration and Management - Chattered Institute of Taxation of Nigeria
3. Certified as TADAT Trained in 2019 by the Tax Administration Diagnostic Assessment Tools (TADAT) Secretariat of the International Monetary Fund (IMF) Washington DC, USA
4. African Urban Enterprise Development from the London Open Collage Network (LOCN)
5. MBA (Organizational Behavior) in view - Herriot-Watt University, Edinburgh Business School
6. MBA (International Businesses) in view - Nexford University, Washington DC USA
Mr. Osemene Godson Ubuluamaka was born in Ubulu-Uku, Delta State, on the 2nd of July, 1971. He had his primary School education in Opete Primary School, Enhere, Warri Delta State. His quest for secondary education spanned three institutions and States! (owing to transfer of service of his parents). He commenced his secondary education in 1983, at Urhobo Collage Effurun Warri, Delta State and in 1984 obtained transfer to Okalete Comprehensive Secondary School Issele Mkpitime, Aniocha North Local Government Area of Delta State. In 1985, he again obtained transfer to Staff Comprehensive Secondary School, Ajaokuta, Steel Company, Ajaokuta, Kogi State, where he obtained his West African School Certificate O Level in 1987.
Godson currently a student at Edinburg Business School Heriott-Watt University, obtained a Bachelor of Technology degree, (Combined Honors) in Agricultural Economics & Extension Services, at the Federal University of Technology Owerri (FUTO), Imo State, in 1997, He holds a Post Graduate Diploma in Tax Administrationn and Management from the CITN Tax Academy Nigeria, in addition, he was Certified as TADAT Trained in 2019 by the Tax Administration Diagnostic Asessment Tools (TADAT) Secretariat of the International Monitary Fund (IMF) Washinton DC, USA. Godson holds. holds several certificates from professional / career enhancement courses including in African Urban Enterprise Development from the London Open Collage Network (LOCN), obtained in 2014.
He has been proactively involved in business consulting, particularly in the specialized areas of tax administration and management, programme planning and evaluation, organizational development, urban agriculture, indigenous farming system development as well as sustainable community development management, since 1999. He has been involved extensively in the Niger Delta Region of Nigeria, working with governments at all tiers, the oil and gas industry, the organized private sector as well as several indigenous and international Non Government Organizations (NGOs).
Godson was accepted in 2014, as a Faculty member, in the new initiative to establish and operationalize an Institute for Development Studies in the Niger Delta, to be domiciled at the University of Uyo. This agenda is being sponsored by the Centre for Development Support Initiative (CEDSI), a Non Governmental Organization, with global support and networks. Godsons invitation to be part of this initiative comes from the recognition of the relevance of the value he brings from a vast field background, to the academia. He is currently involved in the development of the Institutes programme outline and course directory.
Godson comes with a working background of over 24 years in varied but re-enforcing fields and has served in positions of increasing responsibilities over this period. He was the Special Adviser to a Commissioner for Agriculture and Natural Resources in Cross River State, a Special Adviser to 3 Successive Chairmen at the Cross River Internal Revenue Service (CRIRS). Between August 2015 and May 2023 when Mr. Osemene worked with the Cross River State Tax Authority, he served in several Committees both at the Internal Revenue Service and at the State level. He was a member of the Tax Authority's Technical Committee, Secretary to the State and Local Governments Joint Revenue Harmonization Committee, Secretary of the State Revenue Harmonization Committee, Deputy Editor-in-Chief of the Cross River State Tax Digest, member of the State Steering Committee on the World Bank/FGN States Fiscal Transparency, Accountability and Sustainability (SFTAS) program, member of the State Technical Working Group on the SFTAS Disbursement Linked Indicator 11.3 (improved property taxation by updating property records in urban areas). As Special Adviser, Godson oversaw the day-to-day administration and management of the business of taxation in Cross River State for a period of almost eight years.
Prior to his adventure into tax administration, Godson has worked as a consultant with the Shell Petroleum Development Company of Nigeria, the Nigerian LNG Company Limited. As a team member, alongside other development practitioners, he has been involved at various levels, in the sustainable development efforts of other oil and gas companies and interests in Nigeria.
In 2002, Godson was involved as a Participatory Rural Appraisal consultant, with the Niger Delta Regional Development Master Plan Programme, an initiative coordinated by the German Technical Cooperation (GTZ) and sponsored by the Niger Delta Development Commission (NDDC).
Godson, as a consultant worked with efforts aimed at enhancing service delivery in Community Relations Department of the Nigerian Liquefied Natural Gas Company (NLNG). This involved appraising the companys development interventions in over 100 communities that make up the Gas Transmission System (GTS) network. The highlight of Godsons involvement with the NLNG was the seamless delivery of the 18TH June 2003 External Relations Workshop on Sustainable Development and Community Relations. This initiated the community relations policy reform geared at sustainable development.
Between August 2003 and September 2005, Godson served as the Programme Advisor to Pro-Natura International (PNI), an International Non Government Organisation involved in sustainable ‘whole’ Coastal Community Development Initiatives. Godsons responsibilities in this position involved coordinating programme activities in the two States of Rivers and Akwa Ibom States. He was specifically taxed with quality management, programme budget management and control, Monitoring and evaluation of activities in several programme areas, including Women in Development, Youths in Development, Education, Infrastructure, Training and Institutional Capacity Development and Enterprise Development.
The Coastal Community Development Initiative, though largely funded by TOTALFINAELF and Statoil, enjoyed the tremendous support of the World Bank, the European Union Micro-Projects Programme, the British Governments’ Voluntary Service Overseas, the German Leprosy Relief Organisation, SPDC and SNEPCO to mention but a few. Godson also gained experience in a wide range of sustainable development trusts.
Godson, as Manager with South-Sea Datcomm Limited, from 2005 to the first quarter of 2011, provided consultancy services to the following notable organizations;
The Niger Delta Development Commission (NDDC) in several areas, including;
Implementation and Partnering for the first phase of the Niger Delta Regional Development Master Plan. During this period, from 2005 to 2007.
Design and development of a web based Monitoring and Evaluation System, for the full Implementation of the Niger Delta Regional Development Master Plan, including coordination of trainings for selected staff of the Niger Delta Development Commission, both locally and overseas.
The establishment and management of the Partners for Sustainable Development (PSD) Forum, from 2008 to 2010, to assist the efforts of the Niger Delta Development Commission, at partnership building with State Governments, Agencies of the Federal Government, the Civil Society, communities, as well as other interests in the Niger Delta Region.
The Federal Ministry of Niger Delta Affairs;- Undertaking the inventorization of crude oil impacted sites at Ogale, Eleme Local Government Area of Rivers State.
The Rivers State Sustainable Development Programme (RSSDP), then headed by Odien Ajumogobia (SAN);- Contributed staff and intellectual resources to enable the design and development of the enabling framework for the establishment and take-off of the Rivers State Sustainable Development Agency.
The Nigeria Liquefied Natural Gas Company (NLNG) Limited; Design and development of a 5 year sustainable development strategy , with implementation plans for the 1st four years, for over 110 communities that make up the NLNGs Gas Transmission System (GTS) and host communities.
The Nigeria Agip Oil Company (NAOC);- Undertaking the following activities, under sub contract with Domino Kosmo Limited;
Environmental Impact Assessment of Diebu South Deep A, Southern Ijaw Local Government Area of Bayelsa State
Environmental Evaluation Report of OB / OB Gas Plant, Idu Flow Station, Oshie Flow Station, and Ebocha Oil Well.
Scientific Appraisal of 10No. crude oil impacted sites in the Rivers, Bayelsa and Delta States
The Shell Petroleum Development Company of Nigeria (SPDC); Design and development of a community interface model.
Godson, as Managing Consultant of Gerug Enterprises Nigeria Limited, from September 2011 till date, has provided consultancy services to the following notable organizations;
Management Consultant to the Shell Petroleum Development Company of Nigeria / Niger Delta Development Commission Joint programme Skills Development Programme for Rural Women (Delta State) - 2012
Development Consultant Ovu Foundation, Ovuire, Ethiope East LGA, Delta State - 2012
Market Survey for the Area Around Emohua Market to Determine Prevalent Agricultural Production & Consumer Demand, on behalf of the Private Sector Development Programme (PSDP) of the 7th FGN UNDP Country Programme 2009 2013 for Rivers State Government / UNDP / Centre for Integrated Development Initiative – June - August, 2013
Organization and facilitation of Training on Cassava Value Chain: High Value Cassava Derivatives to Increase Farmers Revenue in Rivers State. On behalf of the Private Sector Development Programme (PSDP) of the 7th FGN UNDP Country Programme 2009 2013 for Rivers State Government / UNDP / Centre for Integrated Development Initiative – September, 2013
Organization and facilitation of Civic Education & Training events on the Theme Citizens Rights and Responsibilities in Relation to a Clean, Healthy Urban Environment on behalf of the Waste to Wealth (W2W) Programme of the Living Earth (UK) / EMPEZ Center for Environment and Development (funded by European Commission (EC), the Department for International Development (DFID) and Comic Relief) August October, 2013
Lead Consultant; Addax Petroleum Micro-Credit Initiative in Awo-Mmama, Izombe & Orsu Oil Field Communities, on behalf of Enterprise for Development Initiative (EfDI) - ongoing.
Socio-economist / Livelihoods Consultant: Wetlands Internationals Sustainable Livelihoods and Biodiversity Project in Nigerias Niger Delta - Consultancy Services for Ecosystem Service Mapping, Socioeconomic Valuation of the Niger Delta Wetlands as well as the Baseline survey component of the programme. 2014 - 2015
Lead Consultant (on behalf of Centre for Enterprise Development Initiatives); Chevron Sustainable Livelihood / Economic Growth Opportunity Assessment in DODO RIVER, KEFFES AND JISIKE Regional Development Councils, coordinated by CREATIVE ASSOCIATES OF WASHINGTON DC, USA
Godson while currently the Chairman of Gerug Enterprises Nig Limited, as well as the Managing Director / Chief Executive Officer at MEGAFIELDS CONSULTING LTD. He enjoys reading and walking as hobbies. Godson is married to Margaret Osemene and their union is blessed with two children..
Course Curriculum
How VAT Works
Learn the fundamentals of Value Added Tax (VAT) and how it operates in business transactions. This module explains the relationship between Output VAT collected from customers and Input VAT paid to suppliers, and how the difference determines the VAT payable to the tax authority.
Who Should Register & Charge VAT
Understand who is required to register for VAT and when a business becomes responsible for charging and collecting VAT. The module also introduces the role of VAT agents and the responsibilities businesses have under the applicable Nigerian tax framework.
The 2 Types of VAT
Understand the difference between Output VAT and Input VAT and how each affects your business. You will learn how VAT collected from customers differs from VAT paid to suppliers and how eligible Input VAT can be used as a credit.
Pricing Without Inflating
Learn practical approaches to incorporating VAT into your pricing without unnecessarily increasing the apparent cost of your products or services. The module covers VAT-exclusive and VAT-inclusive pricing and shows how to present prices clearly to customers.
How to Treat VAT Paid to Suppliers
Learn when VAT paid to suppliers may qualify as Input VAT and the importance of maintaining appropriate documentation. The module introduces the conditions relating to VAT registration, proper invoices, TIN information, and business-related purchases.
Goods & Services NOT Affected by VAT
Understand the treatment of goods and services that are not subject to VAT under the applicable tax provisions. The module introduces the distinction between VAT-exempt and zero-rated transactions and explains their implications for businesses.
How to Calculate VAT
Learn the basic formulas used to calculate VAT on business transactions. The module provides practical examples of calculating VAT on an amount and determining a VAT-inclusive selling price.
How to Register for VAT
Understand the basic process and documentation required for VAT registration. The module introduces the relevant digital tax platform and the business information and documents commonly required during registration.
How to File on TaxPro Max / rev360
Learn the basic workflow for preparing and submitting VAT returns through the relevant digital tax platform. The module walks learners through selecting the applicable return period, entering Output and Input VAT information, submitting the return, and completing payment.
Invoice Structure to Avoid Excess VAT
Learn how to structure business invoices correctly so that VAT is clearly identified and separated from the underlying transaction amount. The module highlights important invoice information such as business details, customer information, TIN, description, VAT amount, and total payable.
Other Ways to Avoid Excess VAT
Learn practical recordkeeping and transaction-planning approaches that can help businesses properly account for eligible Input VAT. The module emphasizes timely documentation and claiming eligible Input VAT rather than unnecessarily overstating VAT payable.
VAT for Commission-Based Businesses
Understand how VAT may apply to businesses that earn commissions rather than selling the underlying product themselves. Using practical examples, the module explains the treatment of the commission earned in determining the VAT amount applicable to the business.
How PAYE Works
Learn how the Pay As You Earn (PAYE) system operates for employees and employers. The module explains the employer's role in deducting applicable tax from employees' income and remitting the deductions to the relevant State Internal Revenue Service.
Income Liable to PAYE
Understand the different forms of employee income that may be considered when determining PAYE obligations. The module covers items such as salary, wages, allowances, bonuses, and benefits in kind, including housing and vehicle-related benefits.
Income Exempted from PAYE
Identify income and employee-related contributions that may receive specific treatment under the applicable PAYE framework. The module introduces examples such as pension contributions, NHIS, NHDF, gratuity, and applicable allowances.
Approved Deductions Before Tax
Learn how applicable deductions are considered before determining an employee's taxable income. The module focuses on relevant deductions and the application of the applicable Consolidated Relief Allowance (CRA) provisions.
How to Calculate PAYE
Learn the practical process of calculating PAYE after considering applicable deductions and reliefs. The module introduces the relevant graduated tax rates and demonstrates how they are applied to taxable income.
Compliance Issues
Understand the key compliance responsibilities associated with PAYE. The module covers registration with the relevant State IRS, monthly PAYE schedules, remittance requirements, and annual returns.
Penalties
Learn about the consequences of failing to properly deduct, remit, or comply with PAYE requirements. The module introduces applicable penalties and interest associated with unpaid or unremitted PAYE obligations.
How WHT Works
Understand the basic concept of Withholding Tax (WHT) and how it operates when businesses make qualifying payments. The module explains how tax is deducted at the point of payment and subsequently remitted to the relevant tax authority.
What You'll Learn
Requirements
About This Course
Tax & Books Simplified for Businesses is a practical, business-focused training designed to simplify taxation and financial recordkeeping for SMEs, startups, bookkeepers, and other business owners.
The course takes learners through key areas of Nigerian business tax compliance, beginning with Value Added Tax (VAT), including how input and output VAT work, VAT registration, VAT calculations, pricing, eligible input VAT claims, VAT exemptions, invoicing, filing, and VAT treatment for commission-based businesses.
Learners will also explore PAYE, covering taxable and exempt income, approved deductions, PAYE calculations, compliance requirements, filing, remittance, and penalties. The Withholding Tax (WHT) module explains how WHT works, applicable rates, exempt transactions, WHT credit claims, filing and remittance requirements, and penalties.
The course then moves into Simplified Recordkeeping, teaching practical methods for tracking income and expenses, reconciling bank accounts and inventory, managing credit and installment sales, and generating essential financial reports such as the Profit & Loss Statement, Cash Flow Statement, and Balance Sheet.
Participants will also be introduced to practical business tools, including PAYE calculation, VAT invoicing, cashbook and bank reconciliation tools, as well as the BizRun Tool for recording transactions and generating financial and tax-related reports.
By the end of the course, learners should have a clearer understanding of their tax obligations and be better equipped to maintain organized business records, perform basic reconciliations, prepare financial reports, and support their business's tax compliance.
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