Company Income Tax (CIT)

A large part of our tax preparation service is tax minimization planning. We like to meet with our clients to learn about their business situation and then be able to provide the best advice for minimizing their taxes and operating their business. Ever changing tax laws often require issues to be researched for optimal application of tax provisions available.

The company income tax service includes:

  • Providing guidance on computation of income tax liability and other relevant parts for claims of tax deductibles/allowances.
  • Submitting the completed and signed self assessment income and education tax forms with the relevant offices.
  • Collection of tax receipts for all various payments made on behalf of the company.
  • Submission, following up and obtaining the Company Income Tax Clearance Certificate.
  • Attending to tax queries raised from Federal Inland Revenue Service
  • Provide guidance and support in addressing Tax Audit matters.

 

Personal Income Tax (PIT)

Our service for Personal Income Tax Compliance covers the following scope of work:

  • Providing guidance on completion of employee’s annual income declaration, other benefit in kind and other relevant parts for claims of tax relief.
  • Submitting the completed and signed forms with the relevant offices of the State Internal revenue Service and follow up to obtain the individual employee’s tax deduction cards,
  • Collating monthly PAYE remittance receipts,
  • Completing Employer’s Remittance Card Form G with details of tax payments for the entity’s attestation,
  • Completing Employers statement of income and taxes for the year, Form H1for the company’s approval and authorisation to file with the relevant State IRS office,
  • Submission of returns with the relevant State IRS office,
  • Providing guidance on the completion of the TCC application form for the relevant,
  • Processing completed and signed TCC forms with relevant State IRS office,
  • Following up and obtaining the TCC for the employees,

 

 

Value Added Tax (VAT)

We provide VAT planning advice and a full compliance service to deal with the
filing obligations imposed on businesses .We provide our services in the following areas for VAT compliances:

  • Providing guidance on computation of either output or input VAT.
  • Providing guidance on vatable and non-vatable services.
  • We assist in monthly filing VAT returns to FIRS.
  • Collection of VAT receipts from Federal Inland Revenue Service (FIRS).
  • Provision of training for staff

 

 

Witholding Tax Management

Every company transacting business in Nigeria is involved either in withholding tax deduction either as receivable or payable. In either of the two positions, if not properly managed might result into substantial loss of tax benefit of offsetting income tax payable with available withholding tax credit for any related period.

We provide our service for withholding tax compliance in the following areas:

  • We collect on behalf of companies WHT Credit Notes to offset income tax liabilities and Treasury Receipt for tax audit purposes
  • We assist in timely filing of WHT returns to relevant tax office.
  • Provision of guidance in the computation of withholding tax.
  • Provision of advice on the beneficiary of withholding tax deducted between the federal and state government.