Tax is a mandatory contribution by eligible income earners, individuals and businesses to the government on periodic basis. While tax returns are generally based on self-assessment, inadequate knowledge of tax procedures may pose risk to the business in terms of penalties, interest and administrative and legal costs.
We manage tax risk for our clients to ensure theirs tax plans are a exceptional and tax filings are up to date. We aim to manage the tax compliance risks faced by our clients.
The tax laws, procedures and deadlines are complex in nature and require a high level of expertise that many businesses may not have in-house. We provide consulting advice, tax planning and tax preparation services. We have developed unique expertise in tax consulting over the years.
Our tax team are equipped with deep understanding of the tax code and this has enabled us serve our clients satisfactorily.
Tax Preparation Services (Filing of Statutory Returns)
Businesses are required to file their monthly statutory returns at specific dates. These returns include Valued Added Tax (VAT), Pay as You Earn (PAYE), National Social Security Fund (NSSF), National Health Insurance Fund (NHIF) and Residential Rental Tax.
These multiple returns require different determinations and calculations which distract the internal staff from their core mandate. We provide preparation, filing and payment services that ensures that the client’s tax filings are filed on time with emphasis on accuracy and completeness.
Tax Advisory Services
Every business transaction has tax implications. This creates complexity and uncertainty to business and impede the smooth flow of the business operations. Transactions such as purchase and sell of business, voluntary winding up, investment in plant and machinery and similar provide for tax incentives as well as pose tax liabilities.
We guide our clients through the complex mesh of tax codes relating to non-routine business transactions.
Tax Representations
Inevitably, going concern businesses will attract tax compliance audit from tax authorities. These audits can create uncertainty in the business and interfere with normal operations. Tax audits are sometimes unnecessarily intrusive and administratively expensive. Demands made by tax authorities are sometimes riddled with errors and over-estimations. We have over two decades of dealing with tax authorities and have developed unique ways of approaching tax audits that help our clients save time and effort in the process.
As part of our boutique tax preparations service, we represent our clients in four tax meetings with the tax agencies and participate in the preparation of the initial response to tax authorities without cost to our tax clients. We work with our clients thereafter on ways of making the engagement affordable and expedient.
Planning including legal minimization
Like all aspects of business, taxation needs comprehensive planning in order to align the business with to minimize current and future tax liabilities; prepare statutory tax returns; help clients comply with tax laws and regulations and represent clients during examinations by various tax authorities.
We offer tax planning to clients who engage in house staff to file their tax returns. We bring an experienced eye into the process and help the client identifying pertinent issues, train staff in tax matters and review their entity’s tax position regularly.