TAX SERVICES

Introduction: The introduction of the Digital Services Tax (DST) is one of the key developments in the Nigerian tax landscape. DST seeks to tax digital transactions and services provided by foreign tech companies to Nigerian consumers. As a leading accounting firm in Nigeria, we recognize the growing importance of the digital economy and its impact on businesses in the country. In this article, we will delve into the concept of DST, its implications for tech companies operating in Nigeria, and the challenges and opportunities it presents. Understanding Digital Services Tax (DST): The Digital Services Tax is a tax regime introduced in Nigeria to capture the economic activities of foreign digital service providers who generate income from Nigerian consumers. It aims to ensure that these companies contribute their fair share of taxes, even if they do not have a physical presence in the country. The DST is applicable to a range of digital services, including online advertising, subscriptions, and sales of data-driven services. Scope and Applicability: The DST applies to foreign companies providing digital services to Nigerian consumers. Companies with significant economic presence, defined as having a significant number of users or generating a significant amount of revenue from Nigerian consumers, are subject to DST. The tax rate for DST is set at 2% on the gross income derived from qualifying digital services. Impact on Tech Companies: Opportunities and Challenges: Conclusion: The introduction of Digital Services Tax (DST) is a significant step in the Nigerian tax landscape, aimed at ensuring fair taxation of foreign tech companies operating in the digital economy. As an accounting firm, we recognize the challenges and opportunities DST presents to tech companies in Nigeria. Our expertise and guidance empower tech companies to navigate the DST regime, ensure compliance, optimize their tax planning, and contribute to Nigeria’s economic growth and development. By staying informed and proactive, tech companies can adapt to the changing tax environment and thrive in Nigeria’s dynamic digital economy. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: As a reputable accounting firm in Nigeria, we strive to keep our clients informed about the latest regulatory developments that impact their businesses. The year 2021 brought significant changes to the Value Added Tax (VAT) regime in Nigeria, with the passage of the Finance Act 2021. These changes are designed to enhance revenue generation, simplify tax administration, and foster economic growth. In this article, we will highlight the key changes to the VAT regime in 2021 and their implications for Nigerian companies. The most notable change to the VAT regime in 2021 was the increase in the VAT rate. The Finance Act 2021 raised the standard VAT rate from 5% to 7.5%. This change came into effect on the 1st of February 2021. The higher VAT rate has implications for the cost of goods and services and affects businesses and consumers alike. The Finance Act 2021 introduced a Digital Services Tax (DST) on foreign companies providing digital services to Nigerian consumers. DST is applicable at a rate of 2% on the gross income derived from specific digital services, including online advertising and subscriptions. Nigerian companies that utilize digital services from foreign providers need to account for this tax when planning their digital expenses. The VAT regime was expanded to include additional exempted goods and services. Educational materials, pharmaceuticals, and baby products are now VAT-exempt. While this benefits consumers and reduces the cost burden on essential goods, it may also impact businesses in these sectors in terms of input VAT recovery. The Finance Act 2021 introduced a simplified VAT registration process for small businesses with annual turnover below N25 million. Such businesses are eligible for voluntary VAT registration, which allows them to enjoy the benefits of VAT input tax deductions while improving compliance. The VAT regime for the Nigerian stock market underwent a change in 2021. The Finance Act removed VAT on stock exchange transactions. This measure aims to encourage investment in the capital market and enhance liquidity. The increase in the VAT rate from 5% to 7.5% has implications for cash flow management for businesses. Companies need to assess how the higher VAT rate affects their working capital, pricing strategies, and customer demand. With the changes to the VAT regime, companies must ensure compliance with the new regulations, including updated VAT rates, expanded exemptions, and the DST. Timely and accurate VAT registration, invoicing, and filing are essential to avoid penalties and maintain a good standing with the tax authorities. Conclusion: The key changes to the Value Added Tax (VAT) regime in 2021 have significant implications for Nigerian companies. As a trusted accounting firm, we are committed to assisting our clients in understanding and navigating the impact of these changes on their businesses. By staying informed, businesses can optimize their tax planning, ensure compliance with the regulations, and contribute to Nigeria’s economic growth and development. Our expertise and guidance empower companies to make informed financial decisions and thrive in the evolving Nigerian tax environment. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: The Nigeria Finance Act 2021 brought significant amendments to the tax laws and introduced various measures aimed at fostering economic growth, enhancing revenue generation, and improving the overall business environment. In this article, we provided an overview of the key provisions of the Nigeria Finance Act 2021 and its implications for businesses and individuals. The Finance Act 2021 introduced a Digital Services Tax (DST) on foreign companies providing digital services to Nigerian consumers. Companies with a significant economic presence in Nigeria are subject to a 2% tax on their gross income from specific digital services. This measure is aimed at ensuring that digital businesses contribute their fair share of taxes and aligns Nigeria with international efforts to tax digital transactions effectively. To support the growth of small businesses, the Finance Act 2021 raised the threshold for companies eligible for income tax exemption. Businesses with annual gross turnover of N25 million or less are now exempt from paying income tax. This provision encourages entrepreneurship, fosters small business development, and supports economic diversification. The Act expanded the list of goods and services exempt from Value Added Tax (VAT). Educational materials, baby products, and pharmaceuticals are now VAT-exempt, benefiting consumers and reducing the tax burden on essential goods and services. However, this expansion may also impact businesses in these sectors in terms of input VAT recovery. The Finance Act 2021 clarified the tax treatment of pension contributions by removing the tax exemption on withdrawals from pension schemes for individuals who contribute above N10 million annually. This measure aims to encourage consistent contributions to pension schemes and enhance retirement savings. The Act introduced a 2.5% levy on the assessable profits of companies with annual turnover of N100 million and above. The proceeds of this levy will be channeled to the Tertiary Education Trust Fund, supporting the improvement of educational infrastructure and research in Nigerian tertiary institutions. The Finance Act 2021 exempted compensation for loss of office from CGT. This measure is intended to ensure that employees who suffer job losses are not further burdened with capital gains tax liabilities on their severance packages. The Nigeria Finance Act 2021 has implications for investment and business decision-making. Companies must consider the changes in taxation, exemptions, and levies when planning investments, expansions, and budgeting. Careful tax planning is crucial to optimize tax positions and comply with the new regulations. Conclusion: The Nigeria Finance Act 2021 introduced significant changes to the tax landscape, impacting businesses and individuals across various sectors. As a leading accounting firm in Nigeria, we are dedicated to assisting our clients in understanding and navigating the implications of the Finance Act 2021. By staying informed and proactive, businesses can optimize their tax planning, ensure compliance with the regulations, and contribute to Nigeria’s economic growth and development. Our expertise and guidance empower businesses and individuals to make informed financial decisions and thrive in the evolving Nigerian tax environment. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: Company Income Tax (CIT) is a vital component of Nigeria’s tax system, generating substantial revenue for the government and funding essential public services. As an accounting firm, we understand the significance of CIT compliance for businesses operating in Nigeria. In this article, we shed light on the importance of timely and accurate tax reporting and payments, and how companies can ensure CIT compliance to navigate the complexities of the tax landscape successfully. The Significance of CIT Compliance 1. Legal Obligation: Compliance with CIT regulations is a legal requirement for all companies operating in Nigeria. The Company Income Tax Act mandates businesses to accurately report their income and expenses, calculate their tax liability, and pay taxes within the stipulated timeframes. 2. Avoiding Penalties and Interest Charges: Failure to comply with CIT regulations can result in penalties and interest charges, leading to financial losses for businesses. Timely and accurate CIT compliance helps companies avoid such punitive measures and maintain a positive financial standing. 3. Reputation and Trust: CIT compliance contributes to a company’s reputation and trustworthiness within the business community. Compliant businesses are viewed as responsible corporate citizens, enhancing their credibility and attracting potential investors and business partners. Ensuring Timely and Accurate Tax Reporting 1. Maintain Updated Accounting Records: Accurate tax reporting begins with well-organized and up-to-date accounting records. Companies must diligently record their financial transactions, income, expenses, and other relevant information to facilitate accurate tax assessments. 2. Adhere to Accounting Standards: Companies should adhere to internationally recognized accounting standards, such as the International Financial Reporting Standards (IFRS), to ensure consistency and transparency in financial reporting. 3. Engage Professional Assistance: Engaging reputable accounting firms or tax professionals can greatly assist companies in preparing and reviewing their financial statements, ensuring compliance with tax regulations, and avoiding errors in tax reporting. 4. Stay Informed of Changes in Tax Laws: Nigeria’s tax laws are subject to revisions and updates. Companies must stay informed about any changes to CIT regulations to ensure their tax reporting remains accurate and up-to-date. Ensuring Timely and Accurate Tax Payments 1. Plan for Tax Payments: Effective tax planning is crucial to ensure companies have sufficient funds to meet their CIT obligations. Businesses should set aside funds for tax payments and avoid diverting these resources for other purposes. 2. Set Reminders and Deadlines: Companies should establish internal reminders and deadlines for CIT payments to avoid missing the payment due dates. Proactive planning prevents late payment penalties and fosters good tax compliance habits. 3. Leverage Digital Filing: Nigeria encourages electronic filing for tax returns and payments. Embracing digital solutions simplifies the tax payment process, reduces paperwork, and facilitates timely transactions. 4. Seek Professional Advice: Complex tax calculations and varying tax rates for different industries can be challenging for companies. Seeking guidance from tax experts ensures accurate tax payment calculations and compliance with applicable tax rates. Conclusion: CIT compliance is an essential responsibility for businesses operating in Nigeria. Timely and accurate tax reporting and payments not only ensure legal compliance but also contribute to a positive business reputation and financial stability. By maintaining up-to-date accounting records, adhering to accounting standards, and engaging professional assistance, companies can navigate the complexities of CIT compliance successfully. As a leading accounting firm, we emphasize the importance of staying informed about changes in tax laws and leveraging digital solutions for seamless tax filing and payments. With strategic tax planning and proactive compliance, businesses can focus on their core operations while contributing to the growth and development of Nigeria’s economy. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: In Nigeria, the Company Income Tax (CIT) Act governs the taxation of companies operating within the country’s borders. For debt-financed Nigerian companies, understanding the implications of thin capitalization rules is crucial to ensure tax compliance and optimize their financial positions. As a reputable accounting firm, we aim to shed light on thin capitalization rules and their impact on debt-financed businesses in Nigeria. Understanding Thin Capitalization Rules: Thin capitalization rules aim to prevent companies from using excessive debt to finance their operations and, in turn, manipulate their tax liabilities. These rules limit the amount of interest expense a company can deduct from its taxable income if the debt-to-equity ratio exceeds a specified threshold. In Nigeria, thin capitalization rules are included in the CIT Act and are applied to related-party debt. The law sets a debt-to-equity ratio limit to ensure that companies maintain an appropriate balance between debt and equity financing. Implications for Debt-Financed Nigerian Companies: 1. Interest Deductibility: Debt-financed companies that exceed the debt-to-equity ratio limit may face restrictions on interest deductions for tax purposes. The excess interest expenses may not be fully deductible, resulting in higher taxable income and, consequently, increased tax liabilities. 2. Thin Capitalization Audits: The tax authorities in Nigeria may conduct thin capitalization audits to verify whether debt-financed companies are in compliance with the prescribed debt-to-equity ratio limit. Companies found in violation of these rules may be subject to tax assessments, penalties, and potential interest charges. 3. Impact on Investment Decisions: Thin capitalization rules can impact investment decisions, as they affect the overall tax efficiency of debt financing. Companies may need to consider alternative financing structures to optimize their tax positions while adhering to the thin capitalization requirements. 4. Transfer Pricing Implications: For multinational companies with related-party debt, transfer pricing regulations should also be considered in conjunction with thin capitalization rules. The interest rate applied to related-party debt should be at arm’s length to ensure compliance with both transfer pricing and thin capitalization requirements. Best Practices for Debt-Financed Companies 1. Assess Thin Capitalization Risk: Debt-financed companies should conduct a thorough analysis of their debt-to-equity ratios to assess thin capitalization risk. If the company approaches the debt-to-equity ratio limit, it may need to consider adjusting its financing structure to comply with thin capitalization rules. 2. Consider Equity Financing: To minimize the impact of thin capitalization rules, companies may explore raising equity capital through share issuances or retained earnings, thereby reducing their reliance on debt financing. 3. Review Related-Party Transactions: Companies with related-party debt should carefully review their transfer pricing policies to ensure that the interest rates on such debt are at arm’s length. Complying with transfer pricing regulations helps mitigate the risk of thin capitalization issues. 4. Seek Professional Guidance: Given the complexity of thin capitalization rules and their potential implications, debt-financed companies should seek professional advice from reputable accounting firms or tax experts. Professional guidance can provide insights into compliance requirements and optimize tax strategies. Conclusion: Thin capitalization rules play a significant role in determining the tax treatment of debt-financed companies in Nigeria. Debt-financed businesses should be diligent in assessing their debt-to-equity ratios to ensure compliance with thin capitalization rules and avoid potential tax implications. Adhering to best practices and seeking professional guidance can help debt-financed companies optimize their financial positions while complying with thin capitalization requirements. By staying proactive and well-informed, Nigerian companies can navigate the complexities of thin capitalization rules effectively, contributing to their long-term growth and success in the dynamic business landscape. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: For businesses operating in Nigeria, complying with the Company Income Tax (CIT) Act is of utmost importance. As part of the tax administration process, companies may undergo tax assessments and audits by the tax authorities to ensure compliance with tax laws. As a reputable accounting firm, we aim to provide insight into what to expect during CIT assessments and audits and how Nigerian companies can prepare to ensure a smooth and successful process. CIT Assessment vs. CIT Audit: Understanding the Difference 1. CIT Assessment: A CIT assessment is a routine tax review conducted by the tax authorities to verify the accuracy and completeness of a company’s tax return. During an assessment, the tax authorities may request additional information or documents to substantiate the reported income, deductions, and tax credits. The primary objective is to ensure that the company has correctly calculated its tax liability based on applicable tax rates and provisions. 2. CIT Audit: A CIT audit is a more comprehensive and in-depth examination of a company’s financial records and tax affairs. It is usually conducted when the tax authorities suspect potential tax evasion, underreporting of income, or other significant irregularities. During an audit, tax officials may conduct interviews with company representatives, review accounting records, and analyze transactional data to verify compliance with tax laws. How to Prepare for CIT Assessments and Audits 1. Maintain Accurate Accounting Records: Keeping up-to-date and organized accounting records is critical for both CIT assessments and audits. Ensure that financial statements, transactional data, invoices, receipts, and other relevant documents are readily accessible and properly documented. 2. Stay Compliant with CIT Regulations: Regularly review your company’s tax calculations and ensure compliance with the CIT Act. Engage the services of reputable accounting firms or tax professionals to conduct internal reviews and identify any potential issues before the tax authorities do. 3. Adopt Best Transfer Pricing Practices: For multinational companies engaging in related party transactions, adopt robust transfer pricing practices to demonstrate compliance with the arm’s length principle. Maintain detailed transfer pricing documentation to support the pricing of such transactions. 4. Implement Strong Internal Controls: Implementing robust internal controls helps prevent errors and inconsistencies in financial reporting, thereby minimizing the risk of issues during tax assessments or audits. 5. Update Tax Policies and Procedures: Regularly update tax policies and procedures to align with changes in tax laws and regulations. This ensures that your company’s tax compliance framework remains up-to-date and accurate. 6. Conduct Periodic Internal Audits: Conduct internal audits to review tax-related processes and transactions. Internal audits can help identify potential areas of improvement and ensure that your company’s tax affairs are in order. 7. Cooperate with Tax Authorities: In the event of a CIT assessment or audit, cooperate fully with the tax authorities. Respond promptly to requests for information and provide all relevant documents and explanations to demonstrate your company’s commitment to compliance. Conclusion: As Nigerian companies operate in a dynamic business environment, understanding CIT assessments and audits is essential for maintaining tax compliance and upholding the integrity of financial reporting. By maintaining accurate accounting records, complying with CIT regulations, and adopting strong internal controls, businesses can prepare effectively for tax assessments and audits. Seeking professional assistance from reputable accounting firms or tax experts can provide invaluable guidance in ensuring proper tax compliance and minimizing the risk of issues during tax assessments or audits. By being proactive and well-prepared, companies can confidently navigate the tax assessment and audit processes, promoting a positive relationship with tax authorities and contributing to Nigeria’s economic growth and development. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: In today’s globalized business landscape, multinational companies often engage in transactions with their related parties, both within and outside Nigeria. However, these transactions must be conducted at arm’s length and reflect fair market value to prevent tax evasion and ensure a fair distribution of profits among jurisdictions. To address these concerns, the Company Income Tax (CIT) Act in Nigeria incorporates Transfer Pricing regulations. As an esteemed accounting firm, we aim to provide insights into transfer pricing compliance requirements and best practices under the CIT Act. Understanding Transfer Pricing: Transfer pricing refers to the pricing of goods, services, or intangible assets exchanged between related parties, such as a parent company and its subsidiary, within a multinational group. The objective of transfer pricing regulations is to ensure that transactions between related parties are conducted at arm’s length, replicating the pricing that would have occurred if the parties were independent and unconnected. Compliance Requirements: 1. Arm’s Length Principle: Under the CIT Act, companies are required to determine the prices for transactions with related parties based on the arm’s length principle. This principle ensures that the pricing of transactions between related parties is consistent with the pricing of similar transactions between unrelated parties. 2. Documentation: Nigerian companies engaged in related party transactions are obligated to maintain transfer pricing documentation to demonstrate that their pricing complies with the arm’s length principle. The documentation must include detailed information on the selection of comparable transactions, pricing methodologies, and justifications for the pricing. 3. Compliance Threshold: The CIT Act stipulates a compliance threshold for transfer pricing documentation requirements. Companies must ensure that their related party transactions exceed the specified threshold before preparing and submitting transfer pricing documentation. Best Practices for Transfer Pricing Compliance 1. Conduct Transfer Pricing Analysis: To ensure compliance, companies should conduct a thorough transfer pricing analysis, evaluating the arm’s length nature of their related party transactions. This analysis involves identifying comparable transactions and selecting appropriate transfer pricing methodologies. 2. Keep Up-to-date Records: Accurate and up-to-date records are crucial for transfer pricing compliance. Companies must maintain well-organized documentation to support their transfer pricing methodologies and demonstrate compliance with applicable regulations. 3. Seek Professional Advice: Transfer pricing rules can be complex, and regulations may vary based on industry and jurisdiction. Engaging the services of experienced transfer pricing specialists or accounting firms can provide valuable guidance and ensure accurate compliance. 4. Adopt Advance Pricing Agreements (APAs): An APA is a formal agreement between a taxpayer and the tax authority that establishes transfer pricing methodologies for a specific set of transactions over a predetermined period. Obtaining APAs provides certainty and reduces the risk of transfer pricing disputes. Conclusion: Compliance with transfer pricing regulations is of utmost importance for companies operating in Nigeria engaged in related party transactions. Failure to comply can lead to tax assessments, penalties, and reputational damage. As a leading accounting firm, we stress the significance of adhering to the CIT Act’s transfer pricing requirements. By conducting robust transfer pricing analysis, maintaining comprehensive documentation, and seeking professional advice, companies can ensure compliance, mitigate risks, and maintain a positive relationship with tax authorities. Adhering to transfer pricing best practices enhances transparency, fosters fair competition, and supports the Nigerian government’s efforts to combat tax evasion and promote economic growth. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.

Introduction: The Nigerian government recognizes the crucial role businesses play in driving economic growth and development. To encourage investment and stimulate specific sectors, the Company Income Tax (CIT) Act provides various tax incentives and exemptions. As a reputable accounting firm, we aim to highlight these opportunities for businesses in Nigeria, showcasing the benefits of leveraging tax incentives and exemptions to enhance financial performance and contribute to the country’s economic prosperity. Tax Incentives and Exemptions Available: 1. Pioneer Status Incentive: The Pioneer Status Incentive is granted to companies operating in certain industries or engaging in specific activities deemed vital for economic growth. Companies awarded pioneer status enjoy a tax holiday for an initial period, during which they are exempt from paying CIT. The initial period can extend for up to five years, subject to approval by the Nigerian Investment Promotion Commission (NIPC) and renewal considerations. Implication: Companies with pioneer status can allocate more resources to investment, research, and development, fostering innovation and driving sectoral growth. 2. Export Expansion Grant (EEG): The Export Expansion Grant is designed to promote non-oil exports by reimbursing qualifying exporters with export proceeds. Companies engaged in non-oil export activities can receive up to 30% of their export proceeds as a grant, further incentivizing international trade. Implication: The EEG facilitates export-oriented businesses, enabling them to expand their reach in international markets while increasing foreign exchange earnings for the country. 3. Capital Allowances: The CIT Act allows businesses to claim capital allowances on qualifying capital expenditures, such as machinery, equipment, and buildings used for business purposes. Capital allowances reduce the taxable income and, in turn, the tax liability of the company. Implication: Companies can optimize their tax positions by deducting eligible capital expenditures, thereby freeing up funds for reinvestment and growth initiatives. 4. Agriculture and Agro-Allied Tax Incentives: Recognizing the importance of agriculture in Nigeria’s economy, the government provides various tax incentives and exemptions for businesses engaged in agriculture and agro-allied activities. These incentives aim to support food production, processing, and value addition in the agricultural sector. Implication: Agricultural businesses can benefit from reduced tax burdens, encouraging more investments in this critical sector. 5. Research and Development (R&D) Tax Credit: Companies involved in research and development activities can claim tax credits for qualifying R&D expenses. The R&D tax credit promotes innovation, encouraging businesses to invest in technological advancements and product development. Implication: The R&D tax credit fosters a culture of innovation, supporting businesses in Nigeria to remain competitive on a global scale. Conclusion: Tax incentives and exemptions under the Company Income Tax (CIT) Act offer significant opportunities for businesses operating in Nigeria. Leveraging these incentives can result in reduced tax liabilities, increased cash flow, and enhanced competitiveness. As a leading accounting firm, we encourage businesses to explore these opportunities to optimize their financial performance while contributing to Nigeria’s economic growth. However, navigating the complexities of tax laws and ensuring compliance with relevant provisions can be challenging. We recommend seeking professional guidance from reputable accounting firms or tax experts to maximize the benefits of tax incentives and exemptions effectively. By taking advantage of these opportunities, businesses can play an active role in driving sustainable development and prosperity for Nigeria’s economy. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.