Tax Management

Taxes can be categorized into two; Corporate Income Tax and Personal Income Tax.

These are administered by these tax Authorities:

1. Federal Inland Revenue Services – Corporate taxes
2. States Board of Internal Revenue – Personal Income Tax

Company Income Taxes
Company Income Taxes in Nigeria have various Acts of Parliament giving effect to them. Significant among these are:

1. Company Income Tax Act – 1990
2. Petroleum Profits Tax Act – 1990
3. Education Tax Decree 7 1993
4. Value Added Tax Decree – 1993
5. Withholding Tax (CITA 1990 LFN CAP 60 S.60-64; PPTA S. 50A+55A
6. Capital Gains Tax Act – 1967

On engagement we shall first formally register the Company with the Federal Inland Revenue for the purpose of these taxes.

The nature of the operations of the company will guide us in determining whether the Company Income Tax Act 1990 or Petroleum Profits Tax Act 1990 will be applied to Tax Returns of the Company each Year. These two acts are mutually exclusive in their application to a specific company.

Tax Management

Our tax team are well equipped with prerequisite knowledge to support you and your organization on the part to effectively manage your taxes.

Tax in Nigeria is broadly categories into two

• Corporate Income Tax and
• Personal Income Tax

Tax in Nigeria have various Acts of Parliament giving effect to them. Significant among them are

• Company Income Tax Act
• Petroleum Profit Tax Act
• Education Tax Decree
• Value Added Tax Decree
• Withholding Tax
• Capital Gains Tax Act
• Personal Income Tax Act

The nature of business operation is a major guild to determine the application of the tax laws and the relevant tax authorities within which the company or an individual will be registered.

It is our practice to get full details of the company’s operation, analyze and advise on the best strategies to manage tax exposures within the confine of the tax laws