Tax Consulting
The Nigerian tax system is riddled with legislative and administrative enormous volumes, technicalities and at times complexities that could increase the risk and cost of doing business in the country. We provides tax planning guidance with the goal of reducing the client’s tax burden legitimately by thoughtful and purposeful structuring of activities.
Branches of our services are:
- Tax Planning & Management
- Tax Incentives Management
- Tax Computation
- Tax Filling
- Tax Audit Support
Company Income Tax
Our corporate taxation services aim to ensure that the tax burden in the audited accounts is appropriately presented on a yearly basis, as well as to make the process of obtaining tax clearance for the company easier.
Key aspects of our services are as follows:
- Computing annual company capital allowances and tax liabilities;
- Making annual returns to the tax authorities;
- Obtaining corporate tax clearance certificates;
- Tax advisory services including statutory responsibilities in respect of withholding tax;
- Processing of certificate of acceptance for all capital expenditure to be able to claim capital allowance.
Transaction Taxes
Nigeria has a value-added tax (VAT) system controlled by the VAT Act of 2020 (as amended). All firms operating in Nigeria are required by law to register for VAT and charge VAT on all relevant transactions, as well as to remit on a monthly basis to FIRS.
Nigeria also has a Withholding Tax (WHT) system in place, which is based on specific provisions in the country’s numerous income tax legislation. At the point of payment for eligible services, businesses are required to deduct appropriate WHT on behalf of the government.
In this regard, our service entails ensuring appropriate and timely compliance with the VAT Act and WHT system on a regular basis as well as providing occasional services in the following areas:
- Proper keeping of VAT records and filing of VAT returns on a monthly basis;
- Remitting VAT charged and claiming refund where applicable;
- Liaison with relevant office of FIRS in respect of any VAT issues raised;
- Computation and review of monthly WHT deductions against payment vouchers;
- Advisory on WHT payable;
Personal Income Tax
Through innovative income distribution systems, our personal taxation services aim to ensure that employees pay the least amount of tax feasible. In addition, we would manage the following areas of personal income taxation on behalf of employees:
- PAYE tax planning;
- Registering the company with the relevant state Tax Office for the purpose of PAYE;
- Obtaining personal income tax forms and remittance cards for employees;
- Obtaining tax clearance certificates for employees;
- PAYE and Withholding tax audit support and advisory;
- Filing of annual tax returns;
- Filing of Directors Annual returns and processing Tax Clearance Certificates;
- Generally advising on other levies and taxes
Other Tax Services we Offer
- Transfer Pricing
- Personal Income Tax
- Capital Gains Tax
- Petroleum Profit Tax
- Stamp Duties etc.
