The decline in oil revenue has heightened government’s interest in all forms of taxes as a means to enhance revenue. This has resulted in increased monitoring of tax payers (individual and corporate) and enforcement of tax laws. Common taxes include:
⦁ Personal Income Tax (often referred to as PAYE)
⦁ Companies Income Tax
⦁ Education Tax
⦁ Value Added Tax (VAT)
As the saying goes, “ignorance of the law is no excuse”. You need to be properly guided on tax issues to avoid non-compliance or overpayments. Like every other significant issue, tax needs to be managed to strike appropriate balance between non-compliance and over-payment. You also avoid being exploited by dubious or over-zealous tax officials if you understand tax laws and administration and constantly stay on the side of the law.
Besides, Nigeria is currently operating self-assessment system of tax, which means that you are expected to determine your tax liability and pay it. Determination of tax liability often requires professional intervention and when you are wrongly assessed, it also requires professional know how to object to and resolve such assessment. Can you deal with it on your own?
We would be delighted to place our competence at your service.