Turnover tax is the tax payable by a small business whose turnover does not exceed 5,000,000 during any year of income. It is chargeable at 1% of the gross revenue.
These are deductions made by employers from their employee’s payments or earnings. It is a requirement by the law for an employer to deduct a certain amount from his employee’s payment and remit it to the relevant authorities and they include; Pay As Earn (P.A.Y.E), NHIF &NSSF.
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