Payment of tax is a serious concern to governments at all levels in Nigeria and, tax collection has become more aggressive owing to increasing cost of governance and infrastructure plus dwindling revenue from sales of crude oil.
Today, multiple taxation is listed as one of the challenges of small business owners in Nigeria, especially as ‘best of judgment’ taxes are imposed without proper understanding of the operations of the business. Small businesses need assistance to ensure that tax assessment by relevant authorities are fair and are on actual profit or income.
Remember that If you do not pay tax, then you are not eligible to apply for loans from banks for your business.
The combination of deficits of infrastructural facilities in the country, inadequate support from government, and cash flow challenges, discourage business owners from voluntary tax compliance. But this should not be so because payment of tax is a civic duty and, it demonstrates seriousness of any business.
Our tax compliance services include:
Regular review of transactions with tax implications to ensure compliance
Supervision of withholding tax (WHT) and value added tax (VAT) returns monthly
Preparation and filing of annual tax returns in conjunction with our Tax Associates
Follow up with relevant tax authorities to resolve contentious issues that may arise
Advising clients on tax matters