Reclaim accumulated Withholding Tax credits, secure VAT refunds, and unlock blocked corporate capital through rigorous tax reconciliations and direct authority liaison.
Overview
Unlock Locked Capital: Reclaim Excess Withholding Tax and VAT Credits
In Nigeria's tax system, Withholding Tax (WHT) is deducted at source as an advance payment of income tax. For many businesses—particularly service providers, contractors, and consultancies—this mechanism leads to an accumulation of unutilized WHT credit notes that exceed their actual tax liabilities. Over time, these uncredited balances represent significant locked capital that should be helping to fund company operations and growth.
Similarly, businesses that consistently pay more VAT on purchases (input VAT) than they collect on sales (output VAT)—such as exporters, agricultural processors, or manufacturers of zero-rated items—are legally entitled to VAT refunds. However, the process of claiming these refunds or getting the Federal Inland Revenue Service (FIRS) to validate and import historical WHT credits onto the TaxPro-Max platform is rigorous, requiring thorough reconciliation audits and formal representations.
Phillip Eze Osuji & Co. provides specialized tax recovery services. We conduct retrospective reconciliations of your withholding tax credit notes and input VAT transactions, prepare comprehensive claim files, and interface directly with the FIRS and State Internal Revenue Services (SIRS) to secure refunds or offset approvals, returning vital cash to your business.
Our Scope
Tax Recovery Solutions We Deliver
We handle the detailed reconciliations, claim filings, and audit representation to recover your locked tax assets.
WHT Credit Reconciliation
Retrospective auditing of your invoices, receipts, and withholding tax certificates to identify and reconcile missing or uncredited WHT deductions.
TaxPro-Max Credit Importation
Managing the complex process of validating and importing historical WHT credit notes onto the FIRS TaxPro-Max portal to reduce Companies Income Tax (CIT) liabilities.
VAT Refund Audits & Claims
Preparing and filing formal VAT refund claims, ensuring input VAT claims are fully supported by tax receipts, import documentation, and purchase invoices.
Revenue Authority Liaison
Representing your organization during the mandatory FIRS tax audits that precede the approval of any refund claim or high-value credit offset.
Ledger Discrepancies
Investigating and resolving differences between your internal tax ledger calculations and the official positions shown on government portals.
Exporter Zero-Rating
Structuring export transaction documentation and filing procedures to secure VAT refunds on zero-rated export sales under the Nigerian VAT Act.
Recovery Cycle
How We Recover Your Excess WHT & VAT
- 01
Historical Account Audit
We review your financial statements, invoices, and filed tax returns to identify accumulated WHT credits or refund opportunities.
- 02
Credit Note Verification
Our team verifies WHT credit notes against deduction receipts, ensuring all details (TIN, company name, amounts) are completely accurate.
- 03
Claim File Compilation
We prepare a comprehensive refund or credit offset file, including reconciliation schedules, invoices, and supporting tax documents.
- 04
Tax Authority Submission
We file the formal recovery application on FIRS TaxPro-Max or through the relevant State IRS, initiating the official claim process.
- 05
Refund Audit Representation
We act as your authorized representative during the revenue authority's field audits, defending the validity of your claims.
- 06
Approvals & Offset Execution
Upon audit clearance, we track the issuance of the refund or apply the approved tax credits to offset your current and future liabilities.
Verification Scope
What We Verify in Every Recovery Claim
Why Choose Us
Proven Capability in Unlocking Locked Capital
Reclaiming funds from revenue authorities requires technical credibility. We do not just ask for refunds—we present audited, undeniable evidence packages that revenue authorities can quickly approve.
Our firm is licensed by the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN). Our partners remain actively involved in every recovery claim, ensuring that your accounts are meticulously reviewed and defended during revenue audits.
- ✓ Authorized tax practitioners registered with CITN and ICAN
- ✓ Proven track record in successfully importing WHT credits onto TaxPro-Max
- ✓ Deep experience in managing FIRS pre-refund audits
- ✓ Detailed, trace-level reconciliation of historical transaction records
- ✓ Strict confidentiality under professional NDA agreements
- ✓ Partner-led negotiation and direct liaison with tax authorities
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