The Benefits of Engaging Us as Your Tax Consultant
If you notice, I typically send you an email and every two days. The reason I do is simple…
I do communicate quite frequently because it is my goal to help you to pay reduced taxes with peace of mind.
I will also be sending you our email newsletter, which contains more goodies that will help you in running your business.
However, what is the benefit of engaging us as your tax consultant? Of what value is it? What do you and your business stand to gain? This is the issue we will tackle today.
Taxation is a creation of law. Section 24(f) of the 1999 Nigeria constitution state that “it shall be the duty of every citizen to declare his income honestly to appropriate and lawful agencies and pay his tax promptly”
Nigerian Tax Laws comprises about 25 Acts of Parliament and still counting with several guidelines and regulations. Some of these are applied in coming up with what you will need to pay your tax.
Nigerian tax authorities adopts voluntary tax compliance through self-assessment. This means it is the tax payer that is expected to assess their income tax and pay, then submit document to the tax authority for review. This does not mean you can under pay your tax.
From the above you will see that the tax rules and regulation stipulated by the Tax Authorities is not simple and straight forward, and before a business owner can take advantage of credits or deductions they need to qualify for these.
Our firm (Tax consultants) can give professional advice on tax issues as well as help you find credits and deductions that your business qualifies for. For example your business may qualify for certain allowances and deductions.
May I tell you that, once you have filled in a tax form and signed it, you have declared that the information is accurate and true to the best of your knowledge. If the Tax Authorities audits your returns and comes across errors, you could end up facing serious legal consequences, and pay higher tax liabilities.
Rather be safe than sorry and safeguard yourself against any liability by having tax consultants prepare your tax returns. The preparation of tax returns requires knowledge of the tax laws, patience and an eye for detail.
In closing this discussion, I will like to ask you this question “What taxation problem are you struggling with?