Inner Konsult

| 08038460036, 08057694444   info@innerknosult.com    InnerKonsult.com

Nigerian Tax › Tax › Tax Services

 December 21st, 2017  | Nigerian Tax, Tax

Tax services are one of the most important aspects of any business which makes sure that the business is run on lines defined by the government. Making it one of the top priorities of the business also makes sure that the financial management becomes easy and achievable. There are several organizations in Nigeria which are providing the tax services to the organizations to make sure that this daunting task is overcome as a result of the processes that have been developed in this regard. The tax services providing organizations should make sure that the best system is deployed to make sure that the services are rendered to the clients within time and in the most accurate manner ever. Taxpayers are legally bound to fulfill all the requirements in this regard and therefore the tax services organizations should be chosen in a manner that provides services to the organizations in a manner that they require. In Nigeria most of the tax services providing organizations are honest, reliable and based on state of the art systems embedding latest technologies to make the process as accurate as possible. Despite of the professionalism of the organizations it is very important to note that the Nigerian Department of Commerce has helped the client organizations by formulating a series of characteristics that should be considered while hiring an organization for tax services. It is therefore advised by the government to make sure that these qualities are always considered so the in the long run there is no issue with the partner in process. Tax services being hired should have following characteristics in this regard:

  1. Fees

It is one of the most important features that should be given top priority in this regard. The Nigerian government in this regard advises to never hire tax services that relate their fees with the percentage of refund organization receive. It is also advised to avoid all the tax services that claim to get more refunds than other. Always choose the tax services which make sure that the refund is directly deposited to the bank account of the client rather than their own.

  1. E-Filing system

It is another point that an organization should consider in this regard making sure that the best results are obtained once the filing has been completed. It is also to be noted that more than 10 returns filed for the same client should follow a submission through the e-filing system. It is always done by the tax preparer on their own and if the client wants to file a paper return then only this system should be given up. Considering this point will also make sure that the life of the client organization becomes easy when it comes to tax preparation as the filing as well as the deductions will be done automatically without any hassle and problem.

There are several factors that are involved in getting the best tax service for the business and these factors should be considered to make sure that the service being hired has each and every one of them embedded so that the business gets the deductions that are industry specific in line with its requirements. The tax service hiring is not a onetime process so before proceeding it is very important that a company takes into account the past services that have been provided to the customers in this regard as well as the rating that has been received. Getting the best service is the need of the business as the tax requirements are being made strict throughout the world and especially in the advanced societies of the west. The tax service is a critical portion of any business and for the same reason it should be chosen with extreme care and professionalism. The requirements of the business should be considered before the tax service is hired so that the industry specific deductions are also enjoyed by the business. To get the most of the idea there are several features that a business should emphasize on before the tax service is hired so that the idea becomes in the best interest of the business. Following is an explanation of some of the related factors in great detail which will also make it possible for the business to get an in depth knowledge of the idea so that it could be implemented in a manner that gets the best results for the business and the deductions are also enjoyed:

  1. It’s all about fees

It is advised to never hire a tax service that has a fee structure based on the percentage of deduction the business gets. Tax deductions are always same for each and every business that operates within an industry and if a tax preparer tries to lure the customer into the business by saying that higher deductions will be attained as compared to other preparers. It is also recommended to hire the services that deposit the deductions directly into the bank account of the client and not that of their own. Under no condition the deductions are to be deposited into the preparer’s bank account at any cost.

  1. History check

It is also very important to note the history of the preparer that is being hired to get the work done. Previous history is very important for the clients to ensure that the tax service being hired is up to the mark and meets the critical requirements of the business. The history check will also make sure that the business gets that service that has a proven track record and it is regarded by the customers in the past.

Filing tax return in Nigeria is not difficult at all but it does not mean that a business should not pay attention in this regard. It is very important to note that the tax service should be given equal importance as any other business operations that constitute the core business activity. The businesses always look for the best tax service organization to ensure that the deductions are enjoyed and the business remains in the best possible form all the times. Outsourcing tax service is something that should be carefully done in this regard to make sure that the best is not only enjoyed but the relation between the service and client organization strengthens over the period of time. The Nigerian Department of Commerce makes sure that the business is also guided in this regard so that they can save their time and finances as well. Tax service is very important and should be taken care of in the best possible manner as it can alter the financial decisions of the business totally and therefore they should also be handled with care. The Institute of Charted Accountants of Nigeria is an organization which makes sure that the best professionals are created when it comes to tax field. Before hiring a tax service in Nigeria it is therefore advised to consider this quality when it comes to the partner firm that is about to be hired. Following are some of the features which the ICAN as well as Nigerian Department of Commerce strongly emphasizes on:

  1. Qualifications matter a lot

It is the first and foremost point that should be considered while hiring a tax service. It has also been mentioned earlier that a qualified tax preparer means that the organization is not only professional but also takes care about the clients that it takes on board. Good and qualified tax service hire means that the business is well aware of its requirements as well as the upcoming events i.e. the tax return filing and the related issues in this regard. The tax preparer should also be affiliated with a professional organization with a strong background to make sure that the services rendered are professional.

  1. Reviews

The past working history of the tax service should be checked thoroughly to make sure that the client satisfaction level is also judged in this regard. Considering this point will lead the business to awesome results to make sure that the needful has been attained. Reviews of the business will also ensure that the organization being hired is thoroughly judged based on the past experience of the clients and the rating they have provided in this regard. Reviewing the organization also makes sure that the type of services being rendered by the organization are state of the art and fulfills the requirements of the clients in the best possible manner.

Tax payer businesses can make sure that the best deductions are not only enjoyed but are also implemented within the business tax system if the best tax service is hired in this regard. These services are the one that embed in itself the best and state of the art professionals who make sure that the business enjoys the best deductions and not even a single penny is left. Tax service should be hired as soon as the business has been started and it is very important to note that the business should allow the services to be in line with the requirements so that the returns are not only filed in a timely manner but are also reviewed and processed by the business to make sure that the relevant issues are also taken care of. Tax service requires a business to make sure that not a  huge sums are spent to hire a professional tax accountant who is well versed in all forms of the tax applications and deductions that are in line with the industrial requirements. The tax service is therefore expected to have one of the best reviews of all times that have been posted onto their website by the users who have done business with the service in the past. These reviews should also be considered while hiring a tax accountant to ensure that the smooth running of the business tax operations is ensured by the tax service that has been hired in this regard. In addition to all this the business should also make sure that the tax service that is being hired in this regard has the following characteristics so that the hard earned money spent gets the maximum value:

  1. The charges

There are tens of thousands of tax accountants out there who provide state of the art services to the businesses for very cheap rates due to the fact that e-filing system is being used in almost every country of the world. The business in this regard should make sure that the tax service hired is cheap and provides the value of the money it is charging in this regard. Ignoring this factor might lead to something that causes loss to the business in terms of spending.

  1. Return filing system

The filing system if the tax service should be the one which makes sure that the best is provided to the business in terms of return filing system. The returns should be filed online and must be presented to the client for review and the business must choose the tax service which has this sort of attitude. The Tax services is best handled by the professionals who know the tax rules and guidelines and use the opportunity to claim maximum allowance for the benefits of the hirer.

Hiring tax services is the need of the hour for many businesses and for the same reason the tax services are highly in demand. Before hiring a tax service it is advised to make sure whether tax services are required by the business. If this is not the case then the owners should take care of the filing system themselves and should also ensure that the best practices are deployed to manage the tax services themselves. However answering the question is not simple at all due to the fact that the tax services are very complex in nature nowadays and to find industry specific tax services is not less than a boon. In this world of advance science and technology it is advised to make sure that the tax services being hired cope with the tasks and overcome the issues that businesses require in this regard. Getting the best service will also make sure that the business has the best tax accountant deployed to ensure that the tax services and the related issues are no match at all. If the good service is hired in this regard then the business can definitely take a sigh of relief as now with respect to tax the business comes at a commanding position. It will also allow the business to take good care of all those issues that constitute the core business operations or upon which the business profit depends. Why does a business needs a tax accounting service is a question that should be answered very clearly. Following are some of the factors that affect the answer to this question in many ways:

  1. Business is no aware of the tax calculations

With respect to tax structure of any country there are several factors that affect the tax collection and calculation processes. Hiring the tax services is important as they are well versed in all forms of tax calculations to ensure that these issues are never faced by the business and they focus their capabilities on other services that are being rendered in this regard. Most of the businesses are also not aware of the tax related matters in this regard so the need of the hour is to make sure that the tax services are hired to do the job within no time as they are professionals and their experience in the field matters a lot.

  1. Miscellaneous reasons

There are other reasons for which the business needs to make sure that a tax accountant is hired in this regard. These include the payment of the taxes, over payment and accuracy of the returns that have been filed. The tax accountant makes sure that the business gets the best services in this regard and gets the returns that it deserves. The overall tax situation is not only handled effectively but the tax services also ensure the smooth running of the business tax operations.

Free income tax filing

www.InnerKonsult.com   Nigeria Accounting,

Tax, Forensic Audit & Investigation service

Whatsapp: +234 803 8460 036

 

>
Visit Us On FacebookVisit Us On TwitterVisit Us On Google PlusVisit Us On Linkedin