Here’s a resource to help you hire the right tax consultant in Nigeria to lower your liabilities and navigate the complex Nigerian tax environment. We’ve included 25 questions to ask prospective consultants so you can make the best hiring decision possible.

Are you a small business owner who’s looking for a tax consultant but is feeling overwhelmed by the search? Don’t worry, you’re not alone! Here, we’ll walk you through the process of hiring the right tax consultant in Nigeria. 

We’ll cover essential steps like assessing your needs, evaluating their experience, and reviewing qualifications, plus our top picks for the best tax consultants in Nigeria for small businesses. 

Let’s get started!

Key Takeaways (Editor’s Pick)

• A tax consultant is a financial navigator, bridging the gap between complex tax regulations and financial goals.
• Hiring a tax consultant in Nigeria offers benefits such as expert guidance, risk mitigation, time and cost savings, strategic tax planning, and peace of mind.
• Consider a tax consultant as an investment in the financial health and sustainability of your business.
• When choosing a tax consultant in Nigeria, assess your specific tax needs, review qualifications, evaluate experience, seek recommendations, and consider communication skills, costs, and technological proficiency.
• Staying informed about tax laws is crucial, and a tax consultant’s commitment to ongoing education and awareness is pivotal for achieving tax compliance.

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Who is a Tax Consultant?

A tax consultant is your financial navigator in the complex terrain of taxation.

They help you bridge the gap between intricate tax regulations and your financial objectives, providing strategic guidance to optimize your fiscal position.

Think of a tax consultant as your financial guide. They help make sense of complicated tax rules, steering your business in the right direction financially.

Why You May Need a Tax Consultant in Nigeria 

Some benefits of hiring a tax consultant in Nigeria include:

• Expert guidance when tax planning in Nigeria and dealing with complex regulations.
• To help you mitigate risks by helping you stay compliant with regulations, avoid penalties, and capitalize on available benefits.
• Saves you time and money by offering you the best possible solution for your small business tax-related matters
• To identify opportunities for strategic tax planning that align with your small business goals.
• Grants you peace of mind, knowing that a professional oversees this critical aspect of your business.

Always think of a tax consultant as an investment in your business’s financial health and sustainability, not just an expense.

Now, let’s move on to how to choose a tax consultant in Nigeria.

Hiring the Right Tax Consultant in Nigeria

Follow this guide to hire the right tax consultant for your business:

Asses Your Tax Needs

The first step to hiring the right tax consultant in Nigeria is assessing your needs.

These could be the areas you struggle with or lack knowledge about.

For example, you could be fluent in handling your personal income and corporate tax matters but struggle to understand how VAT works.

In such situations, you need a tax consultant with experience and an impressive track record in VAT-related issues.

Hence, we recommend that you begin your search by thinking about the specific expertise your business needs. It’s like finding the right tool for the job – choose a tax consultant whose skills match your requirements.

Review Qualifications and Credentials

When seeking competent tax consulting services in Nigeria, another crucial factor you must consider is the individual or firm’s qualifications and credentials.

From our experience, this step ensures that you engage with a professional with the necessary expertise to handle your tax matters effectively.

Some factors to consider when reviewing qualifications and credentials include:

• Educational background
• Experience in taxation
• Updated knowledge of tax laws
• Professional certifications

If you’re choosing a tax consultation company, we advise that you consider the following:

• Industry certifications
• Professional licensing
• Client referrals and reviews
• Qualifications and experience.

Evaluate Experience

The adage “experience matters” holds when seeking the best tax consultant in Nigeria.

This step ensures that they have encountered diverse tax scenarios, enabling them to provide valuable insights and effective solutions.

Here are several key areas to consider when evaluating a tax professional’s experience: 

• Industry-specific experience
• Track record in delivering successful outcomes
• Familiarity with regulatory landscapes
• History of handling complex situations

These are key considerations if you want a tax consultant who can help you tackle tax issues in Nigeria.

Seek Recommendations and References

Assessing your tax needs, reviewing qualifications, and evaluating experience aren’t enough when seeking the right tax advisory firm in Nigeria; recommendations also matter.

This step provides insight into the consultant’s capabilities and reputation.

To access this insight, I advise you to look for the following forms of recommendations:

• Referrals from peers and industry networks
• Online reviews and reputation
• Client testimonials
• The association’s stamp of approval 

Communication Skills Should be a Priority 

Communication skills are another vital metric you must assess when in your quest to find the right tax management consultant in Nigeria.

A competent tax professional must possess the skills to convey complex tax concepts clearly and understandably.

For example, if you’re pondering “how to avoid tax problems in Nigeria,” your tax consultant’s solution must be easy to understand and implement. 

Furthermore, communication involves not only  dissecting intricate tax regulations but also actively listening to clients to understand their unique financial situations

So, stamp communication skills as a must-have for your next tax consultant while we move on to the next factor to consider when seeking a tax professional.

Ask About Costs and Fee Structure

Understanding the costs and fee structure is an essential aspect of hiring the right tax consultant in Nigeria.

Before agreeing, it’s essential to grasp how the consultant charges for their services.

Firstly, search for consultants that provide transparent breakdowns of their fee structure. Also, ask for a detailed list of their services and how much each costs so you’ll know what you’re paying for.

Afterwards, inquire about potential add-on costs like fees for extra service or travel expenses. Staying informed of these potential expenses will help you budget.

Overall, transparency fosters trust, which is important for a healthy relationship between client and consultant.

What are Their Technology and Tools?

To stay on top of the ever-changing world of tax regulations, your tax consultant’s tech skills are essential for efficiency and accuracy.

Consider the following aspects when evaluating the technological capabilities of your potential tax consultant in Nigeria:

Tax Software Competence: Ensure the tax professional has experience with popular platforms and inquire about how they leverage technology to streamline tax processes, ensuring accurate and timely filings.

Automation and efficiency: A consultant who incorporates automation into routine tasks can reduce errors, enhance efficiency, and ultimately save both time and costs.

Data Security measures: Ensure the tax consultant employs robust measures to protect client data from breaches or unauthorized access.

Stay Informed

Tax laws and regulations are ever-evolving, so a tax consultant’s commitment to staying informed is pivotal in helping you achieve tax compliance in Nigeria.

These three factors are crucial when assessing a tax consultant’s dedication to ongoing education and awareness:

• Continual professional development.
• Technological adaptability.
• Industry involvement.

Whether you’re seeking a consultant or a tax advisory firm in Nigeria, the above guide will help you achieve the best search results, which will eventually 

Now, let’s move on to the next step: finding you the best tax consultant in Nigeria.

25 Questions to Ask Your Tax Consultant

Hiring the right tax consultant is not a walk in the park. But asking shortlisted candidates these 25 questions can help you hire right. Download the resource and begin today!

Download Resources

Top 4 Small Business Tax Consultants In Nigeria (Quick Review)

Some of the top tax consultants in Nigeria include Deloitte, PwC, KPMG, etc. However, these companies serve multinationals and governments. Hence, their consulting fee might be a challenge for your small business.

For tailored services for small businesses in Nigeria, continue reading to discover our favourite local tax consultants.

Balogun Badejo Consulting Limited

Balogun Badejo Consulting Limited (BBCL) is a professional consulting firm that offers services in human resources, financial/accounting, management, and information technology. 

Year founded

BBCL was established in 1975 as a consultancy arm of Balogun Ayanfalu Badejo & Co (BAB & Co.), a chartered accounting firm

Services

• The company offers tax consulting and compliance services for its clients, covering various aspects of taxation such as personal income tax, withholding tax, corporate tax, value-added tax, capital gains tax, and tax clearance certificates.
• Assists clients in understanding and planning for tax implications in business activities like mergers, acquisitions, investments, reorganizations, and divestments.
• Calculates and facilitates payment of taxes on gains from asset sales (e.g., land, buildings, shares).
• Works to minimize clients’ tax liabilities and maximize benefits by leveraging available incentives, reliefs, and exemptions.
• Manages tax affairs for clients’ employees, directors, and partners, ensuring compliance with tax laws and timely filing of tax returns.

Achievements

• Team of qualified tax consultants, members of CITN and ICAN
• Diverse clientele: multinational corporations, government agencies, financial institutions, NGOs
• Clients include Shell, Chevron, NNPC, CBN, FIRS, UNDP
• Strong relationship with tax authorities: FIRS and SIRS
• Being a member of the International Federation of Accountants (IFAC) and the Association of Chartered Certified Accountants (ACCA)
• Being one of the first consulting firms in Nigeria to be ISO 9001:2000 certified.

Why we recommend them

• Team of committed, experienced, and qualified consultants focused on quality and cost-effective services.
• A strong network of local and international partners, providing access to global best practices and resources.

Alpha Beta Consulting

Alpha Beta Consulting offers professional and independent advice and support in information and financial systems. The firm specializes in business transformation, digital innovation, revenue maximization, and electronic banking.

Year founded

Incorporated in 2001.

Services

• Monitor and enhance revenue collections and promote accountability, transparency, and good governance.
• Help Nigerian states increase internally generated revenue (IGR) through effective systems.
• Offer expertise in tax planning, compliance, audit, dispute resolution, and advisory.

Achievements

• Helped several Nigerian states increase internally generated revenue (IGR) through effective systems.
• Alpha Beta consulting managing director Otunba Akin Doherty received the Kwame Nkrumah’s Africa Leadership Award in

Why we recommend them

• A broad network of experts and top-calibre personnel.
• Alpha Beta Consulting adopts an interdisciplinary approach, integrating information technology expertise to meet client needs effectively.
• Has a track record of swift execution in transforming organizations, showcasing efficiency in delivering results.
• The firm provides robust analysis and advice, especially regarding Information Communication Technology (ICT) solutions for companies.

Sow Professional Services

SOW Professional Services Ltd is a renowned management and tax consulting firm based in Lagos, Nigeria. The firm provides several financial and technical services, including management consulting, tax preparation, and audit and assurance to both private and incorporated organizations.

Year founded

Established in 2015

Services

• Sow Professional Services offers professional and independent advice in information and financial systems.
• Specializations include tax management, audit, legal advisory, quality management systems, and business recovery.
• Additional services provided: training, consulting, and forensic services.

Achievements

• Diverse client base across sectors: government, banking, oil and gas, telecom, and education.
• Notable clients include Lagos State Internal Revenue Service, Abia State Board of Internal Revenue, Imo State Internal Revenue Service, Bayelsa State Board of Internal Revenue, and Akwa Ibom State Board of Internal Revenue.

Why we recommend them

• Over five years of experience in delivering high-quality and customized solutions.
• A team of experts who are proficient in addressing complex technology and business challenges.
• Vision to be the preferred organization in advancing business success and corporate standards.
• Mission to create a competitive edge for organizations using local resources for global performance.
• Core values include empathy, dauntless, go-getter, and efficiency.

Andersen In Nigeria

Andersen in Nigeria is an independent business advisory and tax firm with a global presence through the member firms and collaborating firms of Andersen Global.

Year founded

Founded in 2017

Services

• Andersen In Nigeria offers professional and independent advice in information and financial systems.
• Specializations include tax management, audit, legal advisory, quality management systems, and business recovery.
• Additional services provided: training, consulting, and forensic services.

Achievements

• Recognized as Nigeria Tax Firm of the Year at ITR EMEA Tax Awards 2022.
• Awarded Fastest Growing Tax Advisory Firm by Global Business Outlook Awards 2020
• Licensed as a Data Protection Compliance Organisation by NITDA
• The first and only member firm of Andersen Global in Africa, a global association of independent tax and advisory firms.

Why we recommend them

• Over five years of experience in delivering high-quality and customized solutions.
• A team of experts skilled in addressing complex technology and business challenges.
• Vision to be the preferred organization in advancing business success and corporate standards.
• Mission to create a competitive edge for organizations using local resources for global performance.
• Core values include best-in-class, stewardship, independence, seamless, and transparency.

Nexia Agbo Abel & Co

Nexia Agbo Abel & Co. is a multi-discipline professional firm committed to technical and professional excellence in providing tax, advisory, assurance, corporate Support, and company secretarial services.

Year founded

Established in November 2004

Services

• Nexia Agbo Abel & Co. provides professional advice in information and financial systems.
• Specializations include tax management, audit, legal advisory, quality management systems, and business recovery.
• Additional services offered: training, consulting, and forensic services.

Achievements

• Member firm of the Nexia International network, which has a global presence in 120 countries.
• Has over a hundred staff in three locations.
• Serves over three hundred clients.
• Tax consultant to some leading companies in Nigeria, including Julius Berger Nig. PLC

Why we recommend them

• Over 11 years of experience providing accounting, audit, and tax services.
• A team of experts skilled in addressing complex technology and business challenges.
• Has a strong reputation for providing high-quality, tailored, and cost-effective tax and business advisory services
• Core values include empathy, dauntless, go-getter, and efficiency.

FAQs

Who is Best for Tax Advice?

For reliable tax advice, consult a certified public accountant (CPA) or tax attorney. Their expertise ensures accurate guidance tailored to your financial situation, navigating complex tax regulations effectively.

What is the Job of a Tax Consultant in Nigeria?

A tax consultant in Nigeria offers expert advice on tax-related issues to individuals and businesses. They assist in optimizing tax strategies, ensuring compliance with regulations, and minimizing tax liabilities.

Who Pays the Highest Tax in Nigeria?

Individuals with higher income levels generally pay the highest taxes in Nigeria. The country employs a progressive tax system, where tax rates increase as income rises.

What is the Minimum Salary to Pay Tax in Nigeria?

The minimum taxable income threshold in Nigeria is N30,000. Individuals earning below this amount may be exempt from personal income tax.

How Do You Calculate Tax in Nigeria?

In Nigeria, individual income tax is calculated using the PAYE (Pay As You Earn) system. Employers deduct the appropriate tax from employees’ salaries monthly based on the applicable tax brackets.

The tax rates are progressive, starting with seven percent if your annual income is below three hundred thousand naira, and rising to 24 percent if you earn above 3.2 million naira.

Hire the Right Tax Consultant in Nigeria: What Next?

Your journey of hiring the right tax consultant in Nigeria has just started. 

Always remember to visualize tax consultants as financial navigators recognize their benefits, consider hiring one as an investment, and follow our guide to choosing the right consultant.

You can review our top picks for the best tax consultants in Nigeria to get started.