The field of taxation and the humongous dimension and importance it has attracted in recent years locally and internationally and the part played by OECD in enhancing tax compliance has made it mandatory to strategically split tax services within the internal structure of Goldwyns to three separate departments in the Tax Services Unit albeit with some internal dependencies:
Corporate tax advisory department
- Petroleum Profit Tax Specialist services to clients in oil and gas – (governed by the Petroleum Profits Tax Act)
- Company Income Tax Specialist services to clients in other sectors other than oil exploration and drilling – governed by the Companies Income Tax Act
- Advisory services on other tax acts and levies
Personal income tax department
- Personal income tax Specialized services to employed staff in the formal sector (companies and organizations)
- Personal income tax Specialized services to self-employed persons and partnerships
- Trustees tax services
- Taxation of estates
Personal income tax service is rendered within the ambits of the Personal Income Tax Act 2011 as amended and the respective applicable “estate” legislations of the Federating States where the estate is deemed resident.
International tax department
- Transfer Pricing Tax advisory taxes on transfer pricing (TP Services) including the development of:
- Transfer pricing documentation for Master File
- Transfer Pricing documentation for Local file
- TP benchmarking services
- Tax advisory services on country by country reporting (CBCR)
- Tax advisory services on Common Reporting Standard (CRS)
- Advance Pricing Agreement – Development and negotiation of advance pricing agreements with the Tax Authority
- Compilation and rendition of annual transfer pricing returns to Nigerian Tax Authorities
Each of these departments that constitute the Tax Advisory Group in Goldwyns is independently staffed and headed by Directors and Partners for effective coordination and discharge of services to clients.
Goldwyns takes due cognizance of the dynamic nature of taxes and the complications that derive from implementing tax changes. The tax group in Goldwyns examines and documents tax changes as they impact specific activities of our clients and provides specific guidance to clients in compliance with a dedicated follow-up program to ensure full compliance and total elimination of risks.
Publications are made periodically and sent out to clients to create the required awareness relating to tax compliance on fiscal changes and outcome of decided cases on tax matters at the various courts of Law in Nigeria. Decided cases usually provide clarity on the interpretation and application of the provisions of the tax laws and a close monitoring of this is done by the Tax Group with the assistance of the Goldwyns Legal Department that helps the Tax Group with interpretations of laws and court judgments on taxes in Nigeria and internationally.