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Our general approach to the delivery of our taxation services are highlighted under three major headings, namely tax planning, representations and consultancy. |
 Tax Planning : We seek to play a positive role in your operations by giving expert tax advice and helping to shape your business decisions.Our taxation services focus on qualitative tax planning schemes for our clients. At client’s annual planning stages, we offer expert guidance relating to the various tax implications of the company’s budget. The tax consequences of changes in client’s business activities are also highlighted. |
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Representation :We represent our numerous corporate and individual clients before the Commissioners of Internal Revenue Service, Customs, Excise and Preventive Service and VAT Service for the expeditious delivery of Income Tax and VAT Returns and the answering of all questions related thereto and assisting in responding to all matters relating to tax audits and investigations. We also assist in obtaining relevant Tax Clearance Certificates for various purposes.
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The unique features are the breadth of the issues that our Tax Consultants and Associate Consultants deal with in tax planning and representation and the early exposure to the client’s top management and staff. As Consultants, we are involved with the complex acquisitions, disposals, refinancing plans and reorganizations. In addition, we explore and deal with such issues as share incentives, business expansion, profit-related pay schemes and other similar business requiring tax-efficient solutions. |
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Consultancy : We provide corporate advisory services related to business set up, reorganisation of businesses and related matters. We assist in the preparation of Business Plans and Strategic Plans for businesses. We advise on investment incentives and assist in registration of business with the relevant investment related institutions like the Registrar-General’s Department, Ghana Investment Promotion Centre (GIPC), and Free Zones Board (FZB). |
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| Our approaches to the specific discipline are as follows: - |
Personal Income Tax :Consultants of Nakyea Consult are proficient in the handling of staff payroll especially expatriate staff. The monthly payroll will be prepared by us and filed with the Internal Revenue Service (IRS) together with your cheque in settlement of the liability. |
| Our role in the above would involve the following: - |
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On receipt of advice of the salary structure of employees, preparation of payrolls for each month. |
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Provide each employee with salary advice for each month. |
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Submit to the IRS Pay As You Earn (PAYE) tax returns for each month together with a cheque for the tax due. |
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Submit to the Social Security and National Insurance Trust (SSNIT) the Social Security Returns for each month together with a cheque of the contributions due. |
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Provide the company with a monthly summary of the payroll cost analysed into various cost centres as deemed appropriate for the company business and costing structure. |
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At the end of each fiscal year, provide each employee with a summary of his earnings from your company to enable them file their individual tax returns. Where necessary we shall advise on the completion of the tax returns. |
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| Corporate Tax : |
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Review of notices of assessment issued by the Internal Revenue Service (IRS), when received by us, submission of appeals based on your budgeted operational results as adjusted, where necessary, with unutilised tax depreciation, carry forward losses and taking best advantage of reliefs and incentives available. |
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Negotiation of settlement of quarterly provisional assessments on your behalf as necessary. |
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Preparation of corporate tax computations for each fiscal period based on the company’s audited financial statements. |
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Subject to your approval, submission of corporate tax computations and filing of other statutory returns notably Income Tax Forms 22A, 22B and 299B. |
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Responding to issues raised and providing additional information as requested by the IRS on the submissions made. |
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Monitoring of the company’s tax position and negotiations of settlement of outstanding tax liabilities, if any, based on actual operational results or election for claims in respect of overpayments. |
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Liaison with the IRS on tax audits where necessary and advice on the optional tax settlement schemes in respect of back taxes that may arise out of tax audits. |
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| Value Added Tax(VAT) |
It is imperative that the correct VAT Returns are filed by your goodselves and especially by your customers/clients, as there is the added benefit to them in terms of cost and pricing structure. |
| The services that we offer in this area to your goodselves and your customers/clients are: |
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Continuing education on VAT. |
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Bring to bear on them our experience based on our added advantage in dealing with a wide range of industries in areas in which they can take added advantage of the VAT within the framework of the law. |
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Assist in the compilation of VAT Returns and submission of the same to the VAT Secretariat together with supporting cheques. |
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Monitoring of claims to ensure refund, should the need arise. |
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Responding to issues raised and providing additional information as requested by the IRS on the submissions made. |
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