GKI TAX & ACCOUNTING

GKI SERVICES

GKI TAX & ACCOUNTING

SERVICES

TABLE OF

PROPOSAL TO PROVIDE CONTENTS

TAX ADVISORY SERVICES
ABOUT OUR FIRM • P. 2-3

Office Address: No 36 A.E Ekukinam street Behind FIRS OUR CORE VALUES• P. 4
opposite ABC transport Utako Abuja-FCT

Email: gkiandassociatesltd@gmail.com, SCOPE OF WORK • P. 5-14

Tel: 07035481522, 08185639821

FEES & TEAM • P. 15-
Website: http://www.gkitaxconsulting.com.ng/
ABOUT OUR FIRM
" Tax Advisory for Individuals & Businesses".

GKI Tax & Accounting Services a registered and licensed Tax Our core services covers a wide range
consulting firm with strong base in tax preparation services including the following:
and is based in Abuja FCT – Nigeria. The firm handles all
aspects of tax preparation services, such as income tax Company income tax
compilation services, income tax return preparation services, Education tax
basic tax preparation services, standard tax preparation Withholding tax
services, full-service tax preparation services, tax-related Capital gain tax
financial products and other related tax return preparation Value added tax
services. Petroleum profit tax
Personal income tax
At GKI we are aware that to run an all – round and standard tax Registration of companies with
preparation service firm, can be demanding which relevant tax authorities.
is why we are well trained, certified and equipped to perform Filling of annual tax return
excellently well. Assisting clients during tax audit
and nvestigation.
GKI Tax & Accounting Services, is a client –focused and result
driven tax preparation service firm, that provides broad- based
services at an affordable fee that won’t in any way put a hole in
the
pocket of our clients.  We offer standard and professional tax
preparation services to all our individual and corporate clients
at local, state, national, and international level. We also ensure
that we work hard to meet and surpass
our clients’ expectations whenever they hire our services.

At GKI Tax & Accounting Services, our client’s best interest

would always come first, and everything we do will be guided
by our values and professional ethics. We will ensure that we
hire professionals who are well experienced in the financial
consulting service industry with base in accounting, taxation,
bookkeeping, auditing and payroll administration.

GKI Tax & Accounting Services, will at all times demonstrate

her commitment to sustainability, both individually and as a
firm, by actively participating in our communities and
integrating sustainable business practices wherever possible.
We ensure that we hold ourselves accountable to the highest
standards by meeting our client’s needs precisely and
completely. We will cultivate a working environment that
provides a human, sustainable approach to earning a living,
and living in our world, for our partners, employees and for our
clients.

Our plan is to position the business to become the leading

brand in tax consulting service line of business in the whole of
Abuja and also to be amongst the top 20 tax consulting service
businesses in Abuja .This might look too tall a dream but we
are optimistic that this will surely be realized because we have
done our research and feasibility studies and we are
enthusiastic and confident that Abuja is the right place to
launch our tax consulting service business before sourcing for
clients from other cities in Nigeria.
 March 2 Vol. 56

OUR VISION
Our vision is to build a tax consulting service
brand that will become the number one choice
for individuals, smaller businesses and corporate
organization in the whole of
Abuja-Nigeria.

OUR COMMITMENT
Our commitment is keeping abreast of the most
recent tax laws and financial information to
maintain our client’s integrity and trust.

OUR GOAL
Our goal is that everybody prospers along the
journey.

OUR GROWTH
Our growth is dependent upon providing clients
financial fuel to drive their ideas, inspirations, and
goals into profitable results.
OUR MISSION
OUR FOCUS
Our mission is to provide professional, reliable
and trusted tax consulting services that assist Our focus is for constant and never ending
individuals, start – ups companies, corporate improvement to the above stated principles
organization and non-profit organizations in
organizing their tax returns and any other tax
related matters that affect them. OUR THANKS
Our mission is also to be our client’s most trusted Our thanks and appreciation is to our clients
business advisor and to create value through which made this venture possible
accounting, tax, and professional consulting
services that we provide to them. we are here to
provide insightful advice to empower our clients
to make tax and financial decisions

We will position our firm to become the leading

brand in the tax Consulting service line of
business in the whole of Nigeria, and also to be
amongst the top 20 tax Consulting firms in
Abuja-FCT in our first 10 years of operations.
OUR CORE VALUES

All of our people are proudly committed to

the following values:

Integrity: Acting ethically and honestly.

We stay true to our values in our decisions,
commitments and communications.

Teamwork: working collaboratively to

create value and innovating together,
within and across our business.

Respect: value each other, the work we do

and everyone we serve.

Relationship: we believe in the value of

relationships. We view every client
relationships as a partnership,and we truly
believe that our success is a result of your
success.

Commitment: at GKI, we are committed

to our purpose. We are committed to
providing close, personal attention to our
clients.

Timely Delivery: we apply speed in our

service delivery.

Communication: we are available to assist

you, so feel free to contact us whenever
you have a question or want to make any
decision. We also keep you up-to-date on
recent happening in the tax environment
and in discharging our duty as your
consultant.

Mastery: we are very good at what we do,

by ensure that we have the academic and
technical know how required, to deliver
value to our client.
 SCOPE OF WORK

COMPLIANCE AND CHART OF ACCOUNT CHECK:

The objective of this exercise is to provide us insight into the tax compliance level of the
organization and to ensure that the company is complying with tax obligation.

We offer to provide the following services:

We will examine each item in the chart of account together with the accounts staff to
identify items in the chart of account that are not allowable for tax purpose.
 
Items identified as not allowable will be discussed with management and the likely tax
liability that it may result to.
 
We will follow up to ensure that these items are taken into consideration prior to
carrying out the annual audit and the preparation of the financial statements.

We will follow up to ensure that the company spending on item of non-allowable

expense is reduced or better still eliminated completely.

Following the completion and approval of the financial statements we will computer
the tax liability payable by the company.

We will send the tax returns and self-assessment to you

for approval and signature after which we will submit
the accounts and computations to FIRS.
 
We will advise you of the amounts of corporate tax (if
any) to be paid and the dates by which the organization
should make payments.
      
We will deal with all communications i.e tax queries
relating to the organizations tax returns addressed to us
by FIRS or passed to us by the organization.
      
We will apply and obtain tax clearance certificate for the
organization each year.
   
We will attend interviews and meetings on behalf of the
organization with officials of federal Inland Revenue
service (FIRS) on tax matters.
MANAGEMENT OF PAYE & STATUTORY DEDUCTIONS
Every employee and employer is expected to remit a certain portion of their salary on a
monthly basis to tax office. Certain rate is computed for PAYE. GKI we assist in managing
the PAYE and other statutory deductions to maximize tax benefit, minimize tax exposure
and minimize general financial loss arising from PAYE Management pitfalls.
 
We offer to provide the following services:
 
·       
We will review the employment record of all the employees to determine the
condition of service that has tax implication.

Based on our findings we will determine the annual and monthly tax payable by each
staff  

Ensure monthly PAYE remittance

       
Registration of both new and old staff at the respective tax offices to avert any penalty
that may arise.
      
Coordinate the processing, remittance and reconciliation of all payroll related
statutory liabilities to ensure compliance with all payrolls related tax laws and
regulations.
    
Filing of tax returns in compliance with the deadline of the statutory authorities.

Respond to queries relating to payroll deduction.

  
To assist individual staff in processing and obtaining annual tax Clearance certificates
from FCT-IRS and any relevant SIRS.

Excellent Tax Consultants in Nigeria. They are very

professional and good at their jobs

Mark Ejike
PAYE TAX AUDIT WITH FIRS
AND SIRS
We offer to provide the following services
They do exactly
We will review the PAYE records of the organisation in
preparation for tax audit whenever the audit notice is
what they say.
served by the FCT- Inland Revenue Services or any other Provide Tax
relevant State Internal Revenue Services (SIRS).
     Solutions so
We will collate all the documents requested by the tax
inspectors for the audit in readiness for the audit excellently.
exercise.      

We will physically be available at the premises of the

organisation to present the records of the organisation
Lydia Lawal
to the tax inspectors.
  
We will also make ourselves available to answer all
questions and queries raised on the records of the
organisation. You will only be required to make further
clarifications if need be.
 
We will pay regular visits to the offices of FCT-IRS and
the SIRS to monitors the file of the organisation at the
 
inspector’s office.
Upon receipt of the official audit
reports from either you, FCT-IRS
or SIRS, we will carry out a
comprehensive review of the
audit report and file an objection
letter on the areas of
disagreement.

We will attend tax audit

reconciliation meetings on behalf
of the organisation (with or
without you) to agree our tax
position with the inspector.

At the conclusion of the audit

and upon reaching agreement
with FCT-IRS or SIRS we will
advise the organisation to effect
payment of the agreed liability (if
any) and also apply and obtain
the tax audit clearance letter for
the organisation
 MANAGING PERSONAL INCOME TAXES (PIT)

GKI TAX &

ACCOUNTING
SERVICES

Being a Nigerian firm with a global outlook, we have developed a relationship with State Tax
Authority and Federal Tax Authority. This has put us in a pivotal position to provide global
services based on the Nigerian content.

We offer to provide the following services:

 
We assist individuals in their tax assessment and computations.
We show up on behalf of our client in the tax office for tax registering, returns, payments and
obtaining our client personal income tax.  
We engage in training of client staff
MANAGEMENT OF VALUE ADDED TAX
Identified the industry in which the client operates in.

Assess the turnover of the company to determine whether it annual turnover has reached. or exceeded the
threshold of 75m as required by the new finance Act, Which came into effect on Feb, 2020

We will determine if the company transaction is Variable at 7.5%, zero rated or exempted.

We will advise the organization on transactions on which VAT should be charged

We will educate and ensure that the management of the organization understand the concept of Input &
Output VAT.

Ensure that the company maintain a accurate VAT record of it transaction.

We will review VAT file maintained by the organization quarterly and advice on any improvement when
necessary.

Ensure that monthly VAT return is carried out as an when due.

We will attend to tax queries and correspondences from tax office on monthly VAT returns filed.

We will advise on all matters relating to VAT as it may affect any aspect of the business operation.

We will attend interviews with officials of the federal Inland Revenue services on behalf of the organization
on monthly VAT returns.
WITHHOLDING TAX MANAGEMENT
SERVICES
We will examine and review the items in the financial statements
with the aim of identifying items with withholding tax implication.

We will advise the management of the appropriate rate of

withholding to be charged against such payment.

Ensure that withholding tax is deducted from all payment that

have withholding tax

Ensure that the withholding tax deducted is remittance on or

before the due date.

Ensure that the company maintains a withholding tax file for all
contract, rent,consultancy and commissions.

Ensure that the company issue a letter of notification to withheld

tax to its supplier and service providers on the transaction amount
and at the appropriate rate.

We will attend to tax queries and correspondences from relevant

tax authority both Federal and State.

We will file monthly withholding tax returns to FIRS on behalf of

the company.

We will advise on all matters relating to withholding tax as it may

affect any aspect of the business operations.

We will attend interviews with officials of the Federal Inland

Revenue Services and State Internal Revenue Service on behalf of
the organization on withholding tax returns.
WITHHOLDING TAX CREDIT NOTE MANAGEMENT

The objective of this assignment is to ensure that all the withholding tax credit of the company
is properly calculated, deducted, remitted and collected from the parties involved and that the
available credit is used efficiently by the company to offset its tax liability for the year under
review. And also ensure that the organization is not exposed unnecessarily to any unwanted
financial risk and therefore minimize cash outflows.

Reviewing of the organizations sources documents relating to fixed deposit to which

withholding is applicable,

We will request for a schedule showing the amount of money on fixed deposit with the
various bank.
    
Recompute the amount of withholding on fixed deposit for accuracy and correctness.
      
Obtain a web portal search from FIRS, ensure that each amount of withholding tax withheld
is cross check with the contract letter and to ensure that the organization has deducted and
remitted the WHT.
  
Obtain all the various receipt from FIRS, ensure that all the remitted WHT is collected.      

Maintain a schedule of withholding tax credit available, used and unutilized WHT credit note
available for future use.

Preparing a report for discussion with the management of the organization.

Agreeing the final amount to be forwarded to the tax authorities with the organization.
   
Contact the officers of the tax authorities for an appropriate date for resolution.
      
Agreeing the unutilized amount of WHT of the organization with the tax authorities.

A LOOK AT THIS ISSUE:

OPEN HOUSE IDEAS - 3
NEW ADS - 3
CORPORATE TAX AUDIT WITH FIRS

When a letter is received from FIRS for tax audit:

We will collate all the documents requested by the tax inspectors for the audit in readiness for the audit
exercise.

We will physically be available at the premises of the organization to present the records of the organization
to the tax inspectors

We will also make ourselves available to answer all questions and queries raised on the records of the
organization. You will only be required to make further clarification if need be

Upon receipt of the official audit reports from either you or FIRS, we will carry out a comprehensive review of
the audit report and make representations on the audit queries.

We will attend tax audit reconciliation meetings on behalf of the organization (with or without you) to agree
the tax position of the organization with inspector.

At the conclusion of the audit and upon reaching agreement with FIRS we will advise the organization to
effect payment of the agreed liability (if any) and also apply and obtain the tax audit clearance letter for the
organization.
PROCUREMENT OF YEARLY ACCEPTANCE CERTIFICATE
FOR FIXED ASSET

We will liaise with the zonal office of the Industrial Inspectorate Division (IID) to obtain the
application form on behalf of the company.

Ensure that the bank and it branches keep and maintain a comprehensive fixed asset
register of all its assets on a yearly basis

Carry out year end review of the list of  additions to fixed assets

Advise the company of the assets eligible for inclusion in the asset register for thepurpose of
obtaining acceptance certificate.

We will file on behalf of the organization notification of the intention to incur qualifying
capital expenditure with the Industrial Inspectorate Division of Federal Ministry of Industry.

We will compile detailed schedule of the fixed and leased assets acquired during the year.

We will file all relevant returns on behalf of the organization with the Inspectorate Division
of the Federal Ministry of Industry.

We will carry out the documentation of the assets on

yearly basis and submit to the Officials of the Industrial
Inspectorate Division of Federal Ministry of Industry.

We will be available to carry out the physical Inspection of

the assets in their various locations with Officials of the When it
Industrial Inspectorate Division of the Federal Ministry of comes to
Industry. Accountancy
We will process and obtain Tax Acceptance Certificate on
Service. I
the assets of the oorganization on yearly basis.
trust GKI
Completely.
They never
disappoint
Orjiofor Peter
 PENCOM COMPLIANCE SERVICES

  We will review the Pension records of the organisation to ascertain the level of compliance with pension
Legislation

We will collate all the schedules and tellers from inception, crosscheck the figure used in computing the
pension to ensure that the right figure was used. i.e 10% for employer and 8% for employee inline with the
2014 amended Pension Act.
 
We will also recompute the pension calculated to ensure that, the appropriate rate has been used for each
year.
  
Obtain the payroll for each year and ensure that no staff pension remittance has been omitted from
computation.
 
Ensure that each staff pension was remitted to the appropriate PFA
  
We will also check the employer code and Staff PIN to ensure accuracy.
    
Obtain the group life insurance from the organisation approved insurance company and ensure that all staff
name and salary figure, used in computing the premium is in line with the figure used in the payroll. This is
to avoid inconsistency between both documents and also avoid investigation from National Pencom
Commission.
    
Obtain the biometric of new staff and register them with PFA of their choices.
      
We will apply and follow up the application process until certificate is obtain.
 ENGAGEMENT FEES

ITEM PRICE
1.Yearly Tax Management N 1,000,000 Per Annum
Routine Compliance/Chart Of Accounts Check.
Tax Audit And Investigation N 750,000 Per Annum
Processing Of Tax Clearance N 500,000 Per Annum

2. PAYE Management N 500,000 Per Annum

Assistance with PAYE Audit

3. Processing of Personal Income Tax Clearance N 5,000/ Staff

4. Monthly Filling Of VAT,PAYE And WHT Remittance N 250,000 Per Annum

5. Responding To Audit Queries From FIRS And IRS N 1,000,000 Per Annum
and participating in the audit process

6.Processing And Obtaining Acceptance Certificate N 500,000 Per Annum

7. Searching And Collecting Of Withholding Tax Credit 2% Of The Value Of The

Note Withholding Tax Credit.

8. Pencom Compliance Services N 750,000 Per Annum

9. Retainership Fee N 2,300,000 Per Annum

 OUR TEAM
GRACE NDUKWE AZU

Grace Ndukwe Azu,is a passionate Chartered Accountant and a Tax Practitioner who
currently own and run a Tax Consulting firm named GKI tax & accounting services,a
subsidiary of Grace Kalu Igiri and Co, with over 10 years’ experience. she is the lead
consultant of Grace Kalu Igiri & co, a registered business that provides tailor-based
range of Audit & assurance Service, Accounting and Bookkeeping Services for Small
and Medium sized businesses that wants to grow and increase their profit strategically.

she also helps start-ups and self-employed individuals with their Tax matters,
bookkeeping, payroll, accounting software and financial needs. Her mission is to help
at least 10,000 Companies both small business, medium and corporate organizations
stop cash leaks in their businesses on or before 2035, by providing them with tools and
personalized Accounting and Tax Services.

she is known as the Tax Clarity Queen" because she has helped over 200 small
businesses stop cash leaks in their businesses and also resolved their tax issues thereby
saving their businesse from a huge tax liabilities. With her help, you can avoid trouble
with the taxman, at the same time, legally slice millions of naira off your tax bills if only
you will allow her show you the ins and outs of small business tax laws.

Finally, she also help all government contractors to package all their bidding
documents like company profile, processing of Tax clearance certificate, Pencom,
NSITF , ITF Certificate and BPP registration.

Grace Ndukwe Azu commence her career with PKF (Pennell Kerr foster) A firm of
Chartered accountants in Ghana as an audit trainee. she left and joined Dimeji
Olatubosun & co in 2008 as an audit junior and rose to the positon of an audit
manager, she was promoted to head the tax department as she is passionate about
Tax after leading various jobs across the country with expert in auditing/investigaton,
taxation, accounting , consultancy and other professional jobs she set up her firm
called Grace Kalu Igir & co in 2017 and GKI Tax Consulting & Accounting Services in
2020. she has over 10years’ experience in tax , accounting and auditing.
 CONTACT US

Reach us at:

01 Office Address: No 36 A.E Ekukinam street Behind FIRS opposite ABC

transport Utako Abuja-FCT

02 Email: gkiandassociatesltd@gmail.com,

03 Tel: 07035481522, 08185639821

04 Website: http://www.gkitaxconsulting.com.ng/

GKI Tax & Accounting Services