This is the ITF Compliance Certificate that wins FG Contracts

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This is the ITF Compliance Certificate that wins FG Contracts – In fact, the ITF compliance certificate is essential for Contract bidding in Nigeria. Do you know that this ITF certificate is a yearly thing? This is one of the yearly returns you must make regularly. Therefore, it’s very necessary for the implementation of public procurement policy in Nigeria. This is the ITF Compliance Certificate that wins FG Contracts

In fact, in accordance with the procurement thresholds in Nigeria, all the compliance certificates are essential for public procurement regulations for goods and works. Procurement threshold rules stipulate the purchasing limits and do not allow the splitting of purchase orders

The Most Needed Compliance Certificates:

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For your success in any contract bidding in Nigeria, you require certain regulatory compliance certificates. These include PENCOM, ITF, NSITF, IRR, CAC, Tax clearance certificates. In fact, these are the benchmark for expression of interest in any FGN contract.

Compliance Certificates Promote Businesses:

Do you believe that this is true? In fact, experience has shown that those who don’t joke with these certificates annually win contracts. While the other group doesn’t. In fact, I have come to note that NSITF, PENCOM, and BPP certificates are their major challenges. But why? It’s true they cost some money, but you can start early. Doing them bit by bit will help you. Can you contact us for help? Let’s schedule how you can follow up and finish without breaking your pockets. Before then, see how the ITF certificate application works.

The ITF: Annual Return Procedure: This is the ITF Compliance Certificate that wins FG Contracts

A proof of current Industrial Training Fund (ITF) compliance certificate is always needed. For a particular year, it must be valid till 31st December of the bidding year. This is fundamental for a successful expression of interest in a contract.

As a matter of fact, the ITF Act provides that any supplier, contractor or consultant bidding or soliciting for contracts from any Government Ministry, Department or Agency must contribute to the Fund. The contribution is just one percent 1% of its total annual payroll. This rule applies to employers having 5 or more employees or having less than 5 employees but with a turnover of N50m and above per annum. This is the ITF Compliance Certificate that wins FG Contracts.

Employer registration:

This is the first step. Every employer must be registered in the ITF training contribution platform. The process of registering is as follows:

Therefore, you can download the ITF Form 7A – Employer Registration and Payment of Training Contribution Form – from here. Then, complete it and present it for submission at the nearest ITF area office along with;

A copy of the company’s CAC certificate of incorporation
Certified True Copy of the Company’s Audited Account
A copy of the Company’s Tax Clearance certificate.

Contribution Evaluation: This is the ITF Compliance Certificate that wins FG Contracts

This will be done by a Revenue inspectorate and compliance officers at the ITF area office. This will be based on the total annual payroll contained in the Company’s Audited Account.

Contribution Payment:

After the evaluation, you will generate an IRR based on the assessment of the officer through the Remita platform. Then, make payment at any Bank for Training contribution.

After payment is made, you will return the Remita payment receipt and the duplicate teller from the Bank to the ITF office. A Hard copy receipt and an Acknowledgement letter will then be issued as a final confirmation of Payment of Training Contribution from the ITF office.

Consequently, the ITF Area Office will forward the company details as contained in the ITF Form 7A to the Headquarters’ Revenue Inspectorate and Compliance Department for issuance of the ITF National Number. Read through This is the ITF Compliance Certificate that wins FG Contracts

The ITF National Number will then be sent to the Area Office for scripting and issuance of a Certificate of Compliance which serves as evidence of compliance with the ITF Act.

GET YOUR COMPLIANCE CERTIFICATS HERE

Summing-up: This is the ITF Compliance Certificate that wins FG Contracts

As you can see, it’s imperative that evidence of the current ITF compliance certificate valid till 31st December of the bidding year be presented for the next contract. This is to ensure your success at the next government contract tender exercise. The ITF compliance certificate is the only document that confirms that the provisions of ITF Act have been complied with. So, you must go for it. This is the ITF Compliance Certificate that wins FG Contracts

How may we help you? This is the ITF Compliance Certificate that wins FG Contracts

No doubt, this process may be very cumbersome for some of you. But you don’t need to worry. Pick up your phone and contact us immediately. As Chartered Accountants, we handle all these with minimal cost. So, can we be of help to you? Contact us then.

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Therefore, ensure you call 09152153136 or 08034347851 or email [email protected] to contact us.

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Ane

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.