Tax & Compliance

Your company in Nigeria receives a Certificate of Incorporation.

Commencement of Operations: Seal in the Book of Laws

Once your company in Nigeria receives its Certificate of Incorporation, our representative will proceed to the Federal Inland Revenue Service (FIRS) to secure your Tax Identification Number (TIN). From this moment on, your company is formally recognized as a taxpayer.

Accounting and financial management in Nigeria demand precision and timely submission of reports to the tax authorities. While recording income and expenditure may seem straightforward, Nigerian tax laws are specific. Expertise in these laws is crucial, particularly for strategic actions like minimizing tax liabilities.

Accounting

Every month, like clockwork, our specialists prepare VAT returns, calculate Company Income Tax, maintain records of payroll deductions (PAYE), and – if you are in Lagos or another state – pay taxes to local authorities.

Audits and Tax Inspections

In the event your company receives a notification for a tax audit or inspection, our team immediately begins preparing all necessary documentation. Archives, invoices, delivery notes, and bank statements—everything must be in impeccable order to ensure a smooth review process.

If you manage your own accounting and make errors – such as forgetting to declare an item, filing late, or underreporting tax liability – your company may face fines and penalties. These penalties can range from a simple reminder to a formal warning.

Our specialists can intervene at any stage to provide comprehensive support and ensure full compliance, helping you navigate complex issues and mitigate potential penalties.

ITH CONSULTING provides all-around support to maintain the financial integrity and legal standing of your business.