Workshop on Tax Regulations and Administration

Program Overview:

Several taxes exist in the Nigerian business climate and are imposable by virtue of the Nigerian Tax laws. Resident and non-resident individuals and companies have a legal obligation to comply with tax laws and regulations. A proper understanding of the concepts, fundamental principles, legal basis as well as tax planning opportunities would enhance compliance, accuracy and efficiency in making remittances to the relevant tax authorities. This will also reduce the risk of exposure to avoidable interests and penalties. This course will update participants on the reliefs, allowable and non-allowable expenses; and employee-related contributions such as Pension and National Housing Fund contributions, amongst others.

For Whom:

This program is designed for Accountants, Auditors, Payroll Administrators, Human Resources Managers, Tax Administrators and others who perform related functions in Public and Private Sectors, with responsibility for tax compliance and administration.

Learning Objectives:

At the end of the program, participants will be able to:

• explain Nigerian tax regulatory laws and agencies;
• identify the Principles of Taxation;
• explain the different Policies that govern Tax Administration; and
• carry-out Tax process without any difficulty.

Course outline:

Day 1: An overview of Nigerian Taxation System

• Identification of taxable and non-taxable income
  • relevant tax types
  • Tax law and Fiscal Regulations
• Determination of expenses that is allowable for tax purposes in
  • accordance with the provisions of each law and permissible tax reliefs
  • Corporate Tax issues and Computation

Day 2: Tax avoidance and Tax evasion

• Tax Policy
• Tax planning

            – How to take advantage of tax planning

opportunities without contravening

the provisions of tax laws.

Day 3: Penalties for Infringements

• Remitting of Tax

• Operation of WHT, VAT and CIT in

Nigeria and practical issues.

• Obtaining Tax Identification number (TIN)

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teachings/learning methods.