We work with companies in highly regulated industries as well as private companies quoted on the Nigerian Stock Exchange, among others, to develop their Corporate Governance Framework which will engender robust and sustainable growth in the Company. We also offer the following services:
- Board Evaluation
- Fraud consulting
- Compliance
- Taxation
The firm also maintains close contacts with tax authorities, management consultants, accountants and auditors. We, upon instruction advise individuals, estates, indigenous and overseas companies and corporations on tax laws, to ensure properly payment of tax and avoidance of tax evasion.
The firm has lawyers who are members of the Chartered Institute of Taxation and are able to render opinions and handles tax matters. Some of the areas of tax advisory services we offer are:
- Companies Income Tax
- Personal Income Tax
- Petroleum Profits Tax
- Value Added Tax
- Capital Gains Tax
- Stamp Duty
- Transfer Pricing
- Registration with the National Office of Technology Acquisition and Promotion (NOTAP)
Every contract or agreement involving the transfer of foreign technology to a Nigerian company must be registered with the NOTAP within sixty (60) days of execution or conclusion of the agreement.
- An agreement involves transfer of technology if its purpose is connected with any of the following matters:
- The use of trademarks,
- The right to use patented inventions,
- iii. The supply of technical expertise in the form of the preparation of plan, diagrams, operating manuals or any other form of technical assistance of any description whatsoever,
- The supply of basic or detailed engineering,
- The supply of plants and machinery, and
- The provision of operating staff or managerial assistance and the training of personnel.
Registration with NOTAP is necessary, as non-registration will mean that the foreigner will not be able to repatriate any payment due him from the agreement.
We assist our clients with the registration of their Agreements.
- Registration with the National Investment Promotion Commission (NIPC)
The Nigerian Investment Promotion Commission (“NIPC”) was established under the Nigerian Investment Promotion Commission Act, 1995, which provides that any enterprise in which there is foreign participation must be registered with the NIPC. The NIPC Act permits foreigners to own up to 100% of any business enterprise with the exception of enterprises on the “negative list” of the Act. The negative list includes enterprises involved in the production of and dealing in arms, ammunition, narcotic drugs and psychotropic substances.
- Application for Certificate of Capital Importation
Investors who wish to be able to remit dividends to non-resident shareholders or repatriate capital on disinvestments must ensure that they obtain a Certificate of Capital Importation from the Nigerian bank through which the payment is transferred into Nigeria.
- Registration of foreign owned securities
A foreigner who owns shares in any Nigerian company must apply to the Security and Exchange Commission (SEC) for the registration of those shares this is because the Investment and Securities Decrees of 1999 provides that the SEC must keep a register of foreign direct investment and foreign portfolio investments.