Ben Ife Adekagun & Co

...Chartered Accountants and Tax Consultants...





Taxation

We handle the tax matters of our clients and ensure that they pay adequate tax in relation to their profit as much as the existing tax laws permit (Tax planning).

Corporation tax involves not only dealing with the issues of self assessment compliance but also effective planning to improve future profits for the business. Our corporate tax services that are tailored to suit our clients include:

  1. Dealing with corporation tax returns and computations.
  2. Advice on the most effective structure for a business or group.
  3. Process Tax Clearance Certificate for our clients.
  4. We advise our client on all statutory tax deductions at source and        ensure that all these deductions are properly accounted for.
PERSONAL INCOME TAX

With increase in tax legislation and the burden of self assessment, it is becoming increasingly important for individuals and corporate organizations to take advice on their tax affairs and tax planning.

Generally, we carry out an inspection of your PAYE tax records on a continuous basis and advise you on areas of errors and omissions and correcting same.

  1. Attend to all bills, levies and rates chargeable by State and Local Governments.
  2. Procure all necessary registrations papers from the State tax authorities for your organisation.
  3. Perform all necessary tasks to ensure that all data relating to the emoluments of all company employees and its expatriate staff are maintained as required by the Government tax system.
  4. Ensure a proper set up of your P.A.Y.E. income tax records in a way to ensure compliance with State Tax Laws and to avoid embarrassment from the State Tax Authorities.

We will also Procure Tax relief cards for employees and process all staff tax documentation with State tax Authorities.

  1. Can also Remit your company PAYE tax deductions monthly to the State Tax Authorities to avoid penalties.
  2. Liaise with the State Government on your behalf in respect of P.A.Y.E and processing on yearly basis the Tax clearance certificates of your employees.
  3. Attend to Tax Auditors from the State and Federal Tax authorities and process your company’s Tax Audit Inspection Clearance Certificate yearly.
  4. Attend to all letters from State and Federal Tax Authorities and liaising with The Government on all Expatriate Tax issues.
  5. Take advantage of the provisions of relevant tax laws to assist clients to plan their payroll for PAYE and NSITF and other statutory deductions.    
VALUE ADDED TAX

The Nigerian Value Added Tax Law legislation can be complex and enormous particularly for smaller businesses.

At Ben Ife Adekagun & Co, we remit VAT deductions monthly and file VAT returns monthly and follow up.

  1. We will attend to VAT Inspectors from Federal Inland Revenue Service (VAT division).
  2. Attend to Tax Auditors from the Federal Inland Revenue in respect of Value Added Tax yearly and answer all tax queries.
  3. Carry out an inspection of your tax records on a continuous basis and advise you on area of errors and omissions, especially on Value Added Tax.     

WITHHOLDING TAX


We will ensure that withholding taxes are deducted and remitted to government tax offices as required by the law. We will attend to Tax Auditors from both the Federal Inland Revenue Service and State Internal Revenue Service in respect of Withholding Tax yearly.

We will carry out an inspection of your tax records on a continuous basis and advise you on area of errors and omissions.

PETROLEUM PROFIT TAX
This covers the profits of companies engaged in petroleum operations in the upstream sector of the oil industry.

Petroleum Profit Tax involves not only dealing with the issues of self assessment compliance but also effective planning to improve future profits for the business. Our Petroleum Profit Tax services include:

  1. Filing your tax returns and computations in compliance with Petroleum     Profit tax law.
  2. Advice on the most effective structure for a business.
  3. Process Tax Clearance Certificate for our clients.
  4. Processing of your annual DPR Permit.
  5. We advise our clients on all statutory tax deductions at source and   ensure that all these deductions are properly accounted for

TAX AUDITING SERVICES
We are involved in the services of revenue generation for the government in area of Audit / Inspection on Personal Income tax, PAYE, Company Income Tax, Withholding Tax, Value Added Tax, Petroleum Profit Tax, Capital Gain Tax, Sales Tax, Capital Transfer Tax, Land Charges and Local Levies.

Our firm also assist Taxpayers and clients to review their records with a view to determining the adequacy of tax deducted with respect to Personal Income tax, PAYE, Company Income Tax, Withholding Tax, Value Added Tax, Petroleum Profit Tax, Capital Gain Tax, Sales Tax, Capital Transfer Tax, Land Charges and Local Levies, advice the client accordingly.

We act as local representative of many foreign companies thereby assisting them to carry out local market intelligence research, source for credible importers/exporters, prepare/design acceptable market penetration strategies including creating awareness for the product(s), ensure that all local rules, regulations and laws are complied with among others.



About Us

The firm presently has three main partners, each of who have had on the average over 20 years of professional working experience. The profiles of the team are presented below:

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Our Vision

Our vision is ......

Our Mission

Our operational focus are in the areas of Auditing, Accounting, Management Consultancy, Tax Consultancy and other related services as required by clients e.g. due diligence. Our clients include Federal, State, Local Government Parastatals, Institutions, Limited liability companies, Partnerships, Schools, Sole traders and other interested third parties.