Memorandum and Articles of Association is one of the Corporate Affairs Commission (CAC) document issued after a successful registration that carries the informations of the company objectives, shareholders & subscribers, shares amount in words and figures, company obligations and rights. It is also known and popularly referred to as MEMART for short, also you can call it companies MEMO.
A company's MEMO can be altered & amended as time goes on, it can even be altered monthly or yearly or as discussed by the board of directors of the company as it's aim is to add or remove or edit a particular objects which is the objectives of the company. To carry on this changes, there must be a board meeting among the directors of the company and of course a resolution letter showing that they accept the changes or they are willing to accept the changes on the MEMO to be amended or altered. A Retyped MEMO would be needed and must have reflected all changes to be made either by adding, subtracting or correcting.
Meanwhile, the company who wants to alter or amend the MEMO will be making a payment online which is tagged Statutory stamp duty fees and it's done online via stamp duty website, also to be done on each page of the new MEMO that has been retyped which has already been reviewed and accessed by an officer of the Federal Inland Revenue Service (FIRS),then the retyped MEMO would be stamped either online or visiting the nearest stamp duty office which is also same body with Federal Inland Revenue Service (FIRS)
After the retyped MEMO pages has been fully stamped by the Federal Inland Revenue Services (FIRS), the MEMO documents will be taken back to the Corporate Affairs Commission (CAC) who initially issued it and payments of statutory fee tagged alterations or amendment of MEMART. The stamped MEMO will be verified and reviewed by the Corporate Affairs Commission, if it's reviewed successfully the company will be notified and the retyped MEMO becomes valid for use in a any business transaction or bank purposes and etc.
What is Resolution Letter?
A resolution letter is a formal document that outlines the resolution of a conflict, dispute, or issue. It typically includes:
1. A clear statement of the issue or conflict
2. A summary of the actions taken to resolve the issue
3. The agreed-upon resolution or solution
4. Any terms or conditions of the resolution
5. Signatures of all parties involved
The unique meaning of a resolution letter lies in its ability to:
1. Provide closure to a dispute or conflict
2. Clarify the agreed-upon solution
3. Serve as a reference for future disputes or conflicts
4. Demonstrate a commitment to resolving issues peacefully
5. Enhance relationships through constructive conflict resolution
Resolution letters are commonly used in various contexts, including:
1. Business disputes
2. Employment conflicts
3. Contract negotiations
4. Legal settlements
5. Personal disputes
By putting the resolution in writing, parties can ensure a clear understanding of the agreement and avoid future misunderstandings.
Unique steps on how to write a Resolution Letter:
1. Start with a clear subject line: Indicate the purpose of the letter and the issue being resolved.
2. Use a formal greeting: Address the recipient with respect and professionalism.
3. State the purpose: Clearly explain the reason for the letter and the resolution.
4. Provide context: Briefly outline the background and history of the issue.
5. Describe the resolution: Clearly outline the agreed-upon solution and any terms.
6. Outline responsibilities: Specify the actions each party must take to implement the resolution.
7. Include a timeline: Establish a schedule for completion of the agreed-upon actions.
8. Address future disputes: Outline procedures for resolving potential future disputes.
9. Express appreciation: Thank the recipient for their cooperation and resolution efforts.
10. Close professionally: End with a respectful closing and signature.
11. Proofread: Review the letter for clarity, grammar, and spelling.
12. Attach supporting documents: Include any relevant attachments, such as agreements or contracts.
Remember to keep the tone professional, concise, and respectful throughout the letter.
How to add Signature to a Resolution Letter Online
What the term "Retyped" refers to:
The term "retyped" has a few unique meanings depending on the context:
1. Typing again: Retyped means typing something again, often to correct errors or make changes.
2. Transcription: In transcription services, retyped refers to converting audio or video files into written text.
3. Data entry: Retyped can mean re-entering data into a system or spreadsheet.
4. Document revision: Retyped may indicate a revised version of a document, often with significant changes.
5. Historical context: In the past, retyped might refer to retyping a document on a typewriter, perhaps to create a clean copy or make edits.
In general, retyped implies re-creating or re-entering text, often with the goal of improvement or accuracy.
Mandate of the Federal Inland Revenue Services (FIRS)
"The Federal Inland Revenue Service (FIRS) is the linchpin of Nigeria's revenue generation, responsible for the strategic collection and management of taxes that propel the nation's economic growth and development. With a steadfast commitment to excellence and a passion for transparency, FIRS harnesses the power of technology and expertise to optimize tax compliance, revenue mobilization, and stakeholder engagement.
As a critical arm of government, FIRS plays a vital role in shaping the country's economic landscape, fostering partnerships, driving progress, and enhancing the well-being of citizens. Through its dedication to effective tax administration, FIRS contributes to the financing of public goods and services, infrastructure development, and social programs that impact lives and communities.
With a team of skilled professionals and a culture of innovation, FIRS continuously improves its processes, leveraging data analytics, digital platforms, and international best practices to enhance tax efficiency, reduce compliance costs, and promote economic competitiveness. By fostering a collaborative tax environment, FIRS encourages voluntary compliance, supports business growth, and promotes Nigeria's global economic standing."
What connects FIRS to Stamp Duty Activities:
The Federal Inland Revenue Service (FIRS) is responsible for administering and collecting stamp duties in Nigeria. Stamp duty is a type of tax levied on certain legal documents, such as:
- Deeds
- Agreements
- Contracts
- Instruments
- Documents related to property transactions
In Nigeria, the FIRS is empowered to collect stamp duties under the Stamp Duties Act (SDA) and the Finance Act. The FIRS has issued guidelines and circulars to clarify the scope and application of stamp duties in Nigeria.
Some key connections between FIRS and stamp duty in Nigeria include:
1. Collection: FIRS is responsible for collecting stamp duties on behalf of the federal government.
2. Assessment: FIRS determines the amount of stamp duty payable on a particular document or transaction.
3. Enforcement: FIRS ensures compliance with stamp duty laws and regulations, and may impose penalties for non-compliance.
4. Administration: FIRS manages the stamp duty regime, including issuing guidelines, circulars, and other regulatory documents.
By connecting with stamp duty, FIRS plays a crucial role in generating revenue for the government and ensuring that legal documents and transactions are properly taxed in Nigeria.
Omaglo can help ease the stress by helping you file for alterations/amendment of your Company's MEMART in Nigeria even if you are Abroad, everything can be done in your absence.
Visit our Goggle Website or email omaglolimited@gmail.com, or video chat with us 09062177949. Omaglo is very reliable and will facilitate your applications with the Corporate Affairs Commission (CAC)
