June 20, 2024
According to International Financial Reporting Standards (IFRS), the audited financial statements for the relevant period (1st July 2021 - 30th June 2022) were prepared by Nigeria's renowned accounting and audit firm Bisi Agboola & Co. using the historical Cost Convention principle. 

Buruj Sports Academy said it has submitted its audited financial statements and tax calculations to the Federal Inland Revenue Service (FIRS) on Thursday.

The submission of her tax computation for the 2022 year of assessment was done through the TaxPro-Max platform.

TaxPro-Max is a platform is used to file tax returns based on a self-assessment system.

According to International Financial Reporting Standards (IFRS), the audited financial statements for the relevant period (1st July 2021 – 30th June 2022) were prepared by Nigeria’s renowned accounting and audit firm Bisi Agboola & Co. using the historical Cost Convention principle. 

Additionally, a properly filled-out and signed self-assessment form for CIT (Company’s Income Tax) was duly submitted, along with proof that the income tax liability had been paid.

With its user-friendly interface and ability to file tax returns in Naira, TaxPro-Max has established itself as the preferred method.

The MD/CEO of the Academy Dr. Salaudeen Waheed Buruj had this to say:

“I have always encouraged business owners over the years to emulate the habit of remitting their dues to the appropriate authorities both at the federal level (FIRS) and at the state level with the (LIRS) as this further aid the development country as it improves the economic situation thereof as the “Pay Your Tax Syndrome” is a vital weapon that gives us a voice to shaping things when they go wrong.

He also exhorted other parties involved in football who have legal frameworks for their sports brands to work with FIRS to make taxes the focal point of the country’s development and economic expansion.

“We must set things right irrespective of the limitation and short-comings of the governments as this goes along to pave way for vast development in Nigerian Football system to enable it match up with the global trends.” He Concluded

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