Value Added Tax Compliance

Our Services

• VAT Registration and Compliance: We assist with the VAT registration process, ensuring that your business complies with local VAT laws, including the Nigerian VAT Act, and any specific industry-related VAT regulations. We ensure that your business meets all registration requirements and adheres to all deadlines.
• VAT Return Filing and Reporting: We prepare and file VAT returns in accordance with the Federal Inland Revenue Service (FIRS) guidelines, ensuring timely submissions and proper documentation. Our team ensures that your VAT returns are accurate and compliant with applicable tax laws.
• VAT Advisory: We provide expert guidance on VAT implications for various business transactions, including the purchase and sale of goods and services, cross-border transactions, and VAT-exempt or zero-rated items, ensuring that your business optimizes its VAT position while minimizing risk.
• VAT Audits and Dispute Resolution: We assist businesses in preparing for VAT audits by FIRS and provide defense services if discrepancies arise. Our team also offers support in resolving VAT-related disputes with tax authorities, negotiating settlements, and handling any litigation, ensuring minimal disruption to your operations.
• VAT Optimization and Planning: We help your business develop VAT-efficient strategies to optimize your VAT recovery, reduce the overall VAT liability, and navigate complex VAT rules. This includes structuring your business operations in a way that minimizes VAT exposure, especially for cross-border transactions.
• Training and Education: We offer tailored training sessions to your finance and accounting teams to ensure they are well-versed in the latest VAT laws, regulations, and best practices. We help you understand how to manage VAT effectively and stay ahead of changes in the law.

Benefits of Partnering with Stransact

• Compliance Assurance: We help your business maintain full compliance with Nigerian VAT laws, including the Nigerian VAT Act and any relevant local and international regulations, reducing the risk of penalties and legal disputes.
• Tax Optimization: By identifying opportunities for VAT savings, we optimize your VAT position, ensuring that your business benefits from available exemptions, zero-rating, or input tax recoveries.
• Risk Mitigation: Our expertise helps mitigate the risks of VAT audits, adjustments, and penalties, giving your business peace of mind knowing that your VAT affairs are in good hands.
• Certainty and Clarity: We provide clear and actionable advice, ensuring that your business understands its VAT obligations and rights, including the treatment of specific transactions under applicable regulations.
• Expert Knowledge: With in-depth knowledge of VAT laws and practices, including the Nigerian VAT Act, FIRS VAT Guidelines, and international VAT standards, we ensure your business is always up to date and well-positioned to handle any VAT challenges.

Optimize Your VAT Compliance with Stransact

Let Stransact Chartered Accountants be your trusted partner in managing your VAT obligations. We ensure compliance with VAT regulations, optimize your VAT position, and help you navigate the complexities of VAT laws. Whether you're dealing with local transactions, cross-border activities, or VAT audits, our expertise and strategic guidance will help your business achieve tax efficiency and minimize risks.