Capital Gains Tax Compliance

Understanding Capital Gains Tax in Nigeria

Capital Gains Tax is a tax levied on the profit realized from the disposal of chargeable assets such as real estate, shares, bonds, and business assets. Governed by the Capital Gains Tax Act, this tax applies to individuals and entities in Nigeria. While the CGT rate is relatively straightforward at 10%, the computation, reporting, and remittance processes can be complex due to various exemptions, reliefs, and the need for precise documentation.

For individuals and businesses, the stakes are high. Non-compliance can lead to penalties, interest, and reputational damage. At Stransact, we help you navigate these challenges by delivering tailored solutions that address the nuances of Nigerian tax laws and your unique financial circumstances.

Our Capital Gains Tax Compliance Services

At Stransact, we offer a full suite of services to ensure you remain compliant while maximizing tax efficiency. Our services include:

• Asset Disposal Analysis:
  • Detailed assessment of the tax implications of disposing of chargeable assets.
  • Advisory on timing and structuring transactions to minimize tax liability.
• Tax Computation and Filing:
  • Accurate computation of capital gains tax based on applicable laws and regulations.
  • Preparation and timely submission of CGT returns to the Federal Inland Revenue Service (FIRS).
• Advisory on Exemptions and Reliefs:
  • Identification of eligible exemptions, such as assets transferred between spouses or used for reinvestment.
  • Guidance on rollover reliefs and other provisions to optimize your tax position.
• Transaction Structuring:
  • Strategic planning to structure transactions in a tax-efficient manner.
  • Advisory on mergers, acquisitions, and other corporate transactions involving chargeable assets.
• Tax Audit Support:
  • Assistance with audits conducted by tax authorities, including preparation of documentation and representation.
  • Resolution of disputes and negotiation with tax authorities to ensure favorable outcomes.
• Compliance Monitoring and Updates:
  • Ongoing monitoring of changes in CGT regulations and proactive guidance to ensure continuous compliance.
  • Regular updates on filing deadlines, procedural changes, and tax planning opportunities.

Why Choose Stransact?

At Stransact, we believe that effective tax compliance is built on expertise, innovation, and a deep commitment to client success. Here’s why you can trust us with your capital gains tax compliance:

• Technical Expertise: Our team of tax professionals possesses in-depth knowledge of Nigerian CGT laws and international tax principles, ensuring accurate and compliant service delivery.
• Tailored Solutions: We understand that every client’s situation is unique. Our personalized approach ensures that your specific needs are met effectively.
• Technology-Driven Efficiency: Leveraging advanced tools and technology, we streamline the compliance process, saving you time and reducing errors.
• Proactive Support: We provide continuous guidance, ensuring you stay ahead of regulatory changes and avoid compliance pitfalls.
• Client-Centric Approach: At Stransact, your satisfaction is our priority. We are committed to clear communication, responsive support, and delivering value that exceeds expectations.

Take the Next Step with Stransact

Capital gains tax compliance doesn’t have to be a burden. With Stransact by your side, you can rest assured that your tax obligations are managed with precision and care. Our dedicated team of professionals is here to simplify the process, provide actionable insights, and help you achieve your financial goals.

Contact us today to schedule a consultation. Let Stransact be your partner in capital gains tax compliance, delivering solutions that empower you to focus on what matters most. Together, we’ll build a solid foundation for your financial success.