TAX

VAT Returns

As a limited company owner operating in Nigeria, you are responsible for your company’s VAT return which is due 21st day of every succeeding month. Once you’re registered you will have to use the VAT return to show how much VAT you’ve charged on your sales, minus the amount deductible on your purchases. The resulting balance is to be remitted to the Federal Inland Revenue Service (FIRS) or claimed by you if it’s a negative sum. Just like bookkeeping, preparing VAT returns is something most of our clients considered exhausting before joining us. This complex tax regime along with the frequent changes to the regulations and requirements of the Federal Inland Revenue Service (FIRS) often leads to businesses overpaying or underpaying VAT. This calls for a professional VAT return service to make sure the demands and deadlines of FIRS are met and that you will only pay or collect what is fairly due. Our tax accountants will be happy to help you with sound VAT planning and timely preparation and submission. We’ll even deal with FIR disputes on your behalf. Most often your VAT return will be prepared as part of creating your statutory accounts, this allows us to provide you with monthly updates and filing can take place quickly and efficiently. If needed, we can also offer you with VAT returns independently of statutory accounts service.

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Withholding Tax

Withholding Tax (WHT) is a method used to collect Income Tax in advance. WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction. The due date for filing WHT returns is the 21st day of every succeeding month. Withholding tax is a tax mechanism where the payer is required to deduct a certain percentage of the payment made to a payee and remit it to the relevant tax authority on behalf of the payee. Our team of experts can handle this in a proactive and well-rounded manner. 

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Personal Income Tax 

OOA Consulting has a dedicated team of highly qualified and experienced personal tax accountants who provide personal tax compliance services and advice. Our team of personal tax accountants works together to provide proactive, well-rounded, technically robust personal tax advice to private clients including individuals to help ensure that their personal tax affairs are in order and are correctly dealt with.

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Ease your tax worries and leave numbers to us