ECONOMY

NAVIGATING NIGERIA TAX ACT - CORPORATE & BUSINESS TAX ESSENTIALS

Learning the art of taxation is essential for every business � not just as a tool for regulatory compliance, but as a shield for the financial health of the enterprise. In Nigeria's dynamic fiscal environment, businesses often face the challenge of over-taxation, double taxation, and unnecessary exposure arising from incomplete understanding or misapplication of the law.

Dealing with corporate tax computation, assessment, and filing demands more than theoretical knowledge; it requires skill, precision, and a deep grasp of how the Nigerian Tax Act operates in practice.

This course has been specially designed to guide participants through the real-world application of Nigeria's corporate and business tax laws. Over three intensive days, attendees will learn how to accurately determine taxable profits, manage multiple tax obligations, and align their business operations with current legislation.

Through case studies and practical exercises, participants will gain deep insight into the tax implications of products, services, and transactions across diverse industries, and understand how to structure their businesses to remain compliant while optimizing tax outcomes. The training will also demystify the roles and powers of the Nigeria Revenue Service (NRS) and State Internal Revenue Services (SIRS), ensuring participants are confident in managing tax compliance, audits, and interactions with authorities.

Course Curriculum

1

    • Mastering taxation as essential for business survival and growth
    • Addressing challenges of over-taxation, double taxation, and legal exposure
    • Developing practical skills for corporate tax computation, assessment, and filing
    • Real-world application of Nigeria’s corporate and business tax laws

2

  • Chief Financial Officers (CFOs) and Finance Directors
  • Tax Managers and Corporate Accountants
  • Compliance and Audit Officers
  • Business Owners and Entrepreneurs
  • Legal and Advisory Professionals involved in corporate structuring or compliance
  • Consultants and Analysts seeking to deepen their practical knowledge of Nigerian corporate taxation

3

  • Morning Session (9:00 AM 12:00 PM)
  • Overview of Nigeria’s Tax System: Key laws and regulatory institutions
  • Understanding the Companies Income Tax Act (CITA) and Finance Acts (20192024)
  • Taxpayer obligations and registration processes for companies
  • Classification of companies (small, medium, large) and applicable tax rates
  • Afternoon Session (1:00 PM 4:00 PM)
  • Determining taxable profits under Nigerian law
  • Deductible vs. non-deductible expenses
  • Capital allowances, loss reliefs, and tax incentives
  • Practical exercise: Preparing a company income tax computation from trial balance data
  • Q&A and recap of Day 1 learnings

4

  • Morning Session (9:00 AM 12:00 PM)
  • Value Added Tax (VAT): concepts, registration, filing, and compliance
  • Place of supply and the taxation of digital and cross-border services
  • Withholding Tax (WHT): principles, rates, exemptions, and compliance pitfalls
  • Distinguishing between VAT, WHT, and CIT obligations
  • Afternoon Session (1:00 PM 4:00 PM)
  • Sector-based applications: tax implications for fintech, manufacturing, and service industries
  • Tax audits, assessments, and dispute resolution procedures under the FIRS Act
  • Navigating penalties and interest for late filing and payment
  • Case study: Analyzing a real FIRS audit scenario and preparing a defense file

5

  • Morning Session (9:00 AM 12:00 PM)
  • Transfer Pricing and Related Party Transactions under Nigerian regulations
  • Taxation of cross-border payments, royalties, and management fees
  • Avoiding double taxation understanding treaties and foreign tax credits
  • Overview of tax incentives: pioneer status, free zones, and investment allowances
  • Afternoon Session (1:00 PM 4:00 PM)
  • Practical group activity: Building a compliant tax structure for a Nigerian company with foreign operations
  • Emerging issues in Nigerian business taxation (digital tax, carbon levies, base erosion rules)
  • Developing an internal tax compliance framework for organizations
  • Final review, participant presentations, and certificate award

6

  • Confidently interpret and apply the key provisions of Nigeria Tax Act
  • Compute and file accurate Corporate Income Tax (CIT), Value Added Tax (VAT), and Withholding Tax (WHT) returns
  • Identify legitimate tax incentives and optimize them for business advantage
  • Engage tax authorities effectively and respond to audits or queries with confidence
  • Design and implement robust tax compliance frameworks aligned with business goals

7

  • 3-day intensive training program
  • Daily sessions from 9:00 AM to 4:00 PM
  • Practical exercises and case studies included

8

  • Instructor-led classroom sessions
  • Case studies and real-world scenarios
  • Practical computation exercises
  • Group activities and participant presentations
  • Interactive Q&A sessions

9

  • Companies Income Tax Act (CITA) and Finance Acts
  • VAT and Withholding Tax compliance
  • Tax audits and dispute resolution
  • Transfer pricing and international taxation
  • Tax incentives and strategic planning

This course includes

  • 9+ Activity Modules
  • 40 hours + lessons
  • Lifetime access
  • Certificate of completion
  • Available on desktop and mobile

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