Optimizing corporate taxation and defending audits
Nigerian corporate tax law undergoes regular restructuring through annual Finance Acts, creating dynamic compliance and financial exposure risks for active companies. Medina Law Associates & Co. provides elite corporate tax advisory and defense representation to mitigate liability and assure compliance.
We assist clients with corporate income tax planning, VAT assessments, transfer pricing documentation, and withholding tax compliance. In case of disputes with the Federal Inland Revenue Service (FIRS) or state revenue boards, our specialized tax litigators represent your interests before the Tax Appeal Tribunal (TAT).
FIRS Tax Audit Defense
We represent clients during formal audit processes, challenging unfair tax assessments, managing document disclosures, and negotiating administrative settlements.
Transfer Pricing
We help multi-national entities draft compliance policies and transfer pricing documentations to verify arm\'s-length pricing on inter-company transactions.
Our Core Capabilities
- Corporate tax structuring and planning for companies.
- FIRS tax audit and desk review representations.
- Representation before the Tax Appeal Tribunal (TAT).
- Transfer pricing documentation and compliance audits.
- Transactional tax advice for mergers, acquisitions, and joint ventures.
Frequently Asked Questions
Under the Finance Act, the Company Income Tax (CIT) rate depends on company size: small companies (turnover under 25M NGN) pay 0% CIT, medium companies (turnover between 25M and 100M NGN) pay 20% CIT, and large companies (turnover above 100M NGN) pay 30% CIT.
FIRS tax audits can be triggered by sudden drops in reported revenues, inconsistent tax filings, or random sector audits. Companies should prepare by keeping clean financial records, verifying VAT receipts, and having a tax lawyer review all transactions before submitting them to auditors.
The Tax Appeal Tribunal (TAT) is a specialized administrative court that hears disputes arising from the decisions of federal and state tax authorities (like FIRS). It provides a faster, cheaper alternative to resolving tax disputes before heading to the Federal High Court.
Nigerian Transfer Pricing regulations require transactions between connected companies (like a foreign parent and local subsidiary) to be conducted at arm\'s length. Affected companies must maintain annual Transfer Pricing documentation to avoid substantial penalties.
