Ever Growing Importance of Taxation courses in Nigeria
There is a massive scope of taxation courses in Nigeria. The industry is looking for capable and effective tax specialists. The role of a Taxation specialist involves auditing accounting, tax laws, and finance. If you are detail-oriented and love numbers, this is an ideal profession.
Tax consultants or advisors are experts who help businesses and individuals plan financial strategies, which in turn helps them minimise their tax liabilities. Accounting and taxation courses can help you gain expertise and know-how in the industry, even if you are from varied educational backgrounds. In Nigeria, the training given by both offline and online modes will prepare you to study accounts and taxation statements for corporate giants and small businesses. Learning old and new accounting software will also help greatly in enhancing your knowledge which will make you a successful Tax consultant.
Snippet About Nigeria
The Nigerian economy is the biggest in Africa and is still an emerging market with ongoing expansions in financial, communication and manufacturing sectors. This country is the second largest in the entertainment industry and is a fashion hub due to its diverse ethnicities and colourful cultural heritage. Being the largest economy in Africa, the country possesses a lot of scope in the field of taxation and accounting. Another exciting fact is that along with a vast range of ethnic groups, Nigeria is also home to waterfalls and many other natural attractions.
Now that we have a fair idea about the value of taxation courses, let’s delve into the Top 10 Taxation courses in Nigeria:
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1. Henry Harvin
Professional Certification Program In Income Tax
About The Institute
Henry Harvin is a competent career development organisation with a prominent position among other Edtech companies. The training offered in Henry Harvin is benchmarked by using state-of-the-art technology and industry-specific modules. The projects and best learning practices make it easier for the students to land their favourite job and package.
This curriculum covers a wide range of taxation and litigation management policies.
- It will enable students to have expert know-how about TDS and TCS.
- Filing Income tax and learning to file returns as well.
- The strategies of calculating salary and remuneration.
- Students can apply advanced excel formulas and create pivot tables and lookup functions.
- Learn to use VBA and What-If analysis.
- Become an expert in Tally software and other Inventory management techniques.
- The Tally ERP module will also extensively cover the industry’s accounting norms and GST compliance rules.
- SAP controlling and SAP Financial Accounting software training.
- Learn the structure of balance sheets, income statements, cash flow and notes.
- Analytical tools to decode financial systems and credit ratings.
- Become qualified for a wide range of high-paying Income Tax jobs that demand these high-skill qualifications.
- You can single-handedly support small startups with ROI.
- With this in-demand expertise, you can also get promoted from your current work profile.
- You will be ahead of your competition with the knowledge gained from industry-specific case studies, simulations and practical know-how.
- Avail one year of Gold Membership of Henry Harvin Accounts Academy that offers free brush-up of your classroom sessions.
This Professional Certificate Program is of a one-year duration. This training course consists of two segments:
For the first six months, you will have extensive online interactive sessions and multiple projects, placement, e-learning and hackathons.
In the second part of the curriculum, the sole focus will be on internships and various international and national job prospects.
2. CITN Tax Academy
Certificate In Tax Law
Established in 2015, CITN Tax Academy (Chartered Institute of Taxation in Nigeria) offers various post-graduate Taxation courses in Nigeria. The academy solely focuses on providing detailed but structured accounting and tax education. CITN offers taxation courses from beginner’s to advanced levels depending upon the candidate’s requirements.
This course will enable you to understand Nigerian Tax policies and become an expert in the accounting and tax implications of selling and purchasing land and buildings. Learn about taxation acts such as Company Income, Fiscal responsibility, and education Tax. This course will enable you with VAT (Value added Tax) norms. Also, you will get to:
- Become an expert on emerging taxation challenges.
- Upgrade your technical competence by learning various accounting software.
- Learn about legal issues dealing with the country’s tax system.
This taxation course consists of 13 sessions and finishes in 10 weeks.
3. Alpha Partners
Effective Tax Audit Course
The Training and Management consultancy offers online training for various professional courses in Nigeria, including Taxation, accounting, work ethics and even management, to name a few.
You will learn about tax audits, financial accounting and reports. Understand the difference and similarities between regular audits and tax audits. You will get acquainted with challan and other tax payment policies. The clear distinction on topics such as
- What is tax, and how is it levied?
- How do financial planning and tax policies affect a nation’s economy
- Know-how about auditor’s reports.
- The group discussions and illustrations will give you practical knowledge of the sector.
- You will gain confidence to apply various software and tools in your workplace.
- This course will enable you to recognise the ideal time to generate tax audits.
The program begins on 13 Dec 2022 till 16 Dec 2022.
Intro to Business Taxation
Udemy is an online learning platform that offers taxation courses at a reasonable price. The institute provides a self-paced learning opportunity for working professionals and freshers to partake in from their homes. This course will facilitate you to understand corporate taxes in a better way.
- Analyse Partnership Taxation.
- You will get to know various types of tax laws.
- Get comprehensive know-how of Corporate taxation.
- Learn more about agency and bankruptcy law.
- You will also learn about special tax situations such as property transactions and depreciation.
The course has three sections which comprise 18 lectures. The duration of the program is 4 hours 22 minutes.
5. Piston & Fusion Business Academy
Tax Planning and Corporate Compliance
Established in 2009, this institute offers training on various levels, such as Professional, Certificate and Executive. Professionals and freshers can take these training courses to enhance their skill sets. The institute has trained over 5000 students and is one of the leading taxation courses in Nigeria.
The institute provides classroom training in Lagos and online classes in other states of Nigeria.
- Understand the basics of taxes.
- Get to know various tax administrators of Nigeria.
- Powers and functions carried by administrators and how they affect tax planning.
- Regulation of taxes by Government.
- Tax Evasion and Tax Avoidance: how are they different?
- Students will have textbooks, manuals and worksheets for professional practice.
- Study national and international case studies related to the industry.
- Become proficient in the usage of tax planning software and tools.
The duration of this course is two days.
The course fee for classroom training is NGN 130,000, and for online classes, it is NGN 100,000.
6. Capacity for Africa
Corporate Tax Planning and Management Training
Capacity for Africa provides comprehensive training solutions across a wide range of competency subjects. It is a consultancy that offers behavioural and strategic implementation training. The Taxation course they offer enables the students to work with corporate tax laws applicable to daily business.
- Understand the tax planning and the dos and don’ts of corporate sector taxation policies.
- What is business income, and how is it taxed?
- Learn the difference between Tax planning and tax Avoidance.
- Both freshers and experienced can avail and benefit from this course.
This course starts on 13 March 2023 and will commence on 17 March 2023.
7. KPMG Tax Business School
The Tax business school provides a wide range of international and national taxation courses, enabling its students to develop a problem-solving mindset.
The institute offers technical knowledge and learning programs at all levels of your career.
You can use this course at the Managerial level to enhance the technical know-how of taxes.
For the leaders of Member firms to focus on Business strategies and Taxation policies.
Broaden your horizons by understanding Global taxation policies, regulations and other policies that affect taxes on an international level.
Learn about cross-border tax and accounting techniques and business acumen at this stage of professional development.
KPMG Tax Business School offers both classroom and online e-learning options.
8. PwC’s Tax Academy
PwC’s Tax Academy is a monthly sharing forum on matters related to taxes and accounting. They also host various one-day sessions on topics related to the regulatory sustainability of taxes in an emerging economy. These sessions also focus on tax transparencies that businesses contribute to society. World-class faculties and subject matter experts facilitate these monthly sessions.
- An insight into tax authorities.
- Tax practice exercises and practical case studies to make students prepare for real-life tax situations.
- Understand emerging tax practices and prepare the students for potential tax risks.
- To suggest solutions for general tax risks through Tax Clinic after every session.
- Learn accounting, regulatory and legal practices.
- To eliminate taxation risks from everyday business transactions.
- Get clarifications on the topics that were ambiguous during the training session.
Students can register themselves on the Academy’s website to get regular updates on their upcoming training sessions.
9. Claretian University
B.SC In Taxation
Claretian University offers a wide range of undergraduate taxation courses in Nigeria. It believes in using futuristic teaching techniques so its students can thrive in a competitive environment.
- This course prepares its students to understand taxation and its policies.
- Latest case studies and other skills taught are based on present-day taxation strategies.
- The teachers and specialists ensure you acquire the best knowledge of accounting and taxes.
- University offers a plethora of free online resources to its students.
For enrollment, you can go to the University’s webpage, fill in your details and click Apply.
10. The University of Benin
B.SC in Taxation
The programme focuses on empowering students with taxation knowledge to improve the fiscal policies of Nigeria. This undergraduate course equips students to study tax policies from grass root level and regulate economic disparities.
- To become aware of services and benefits the citizens get from tax revenue.
- Provide advanced knowledge to students regarding tools and techniques used in taxation and accounting practices.
- Learn to understand the role of taxation in fiscal policy regulations.
- Gain an understanding of accounting ethics and corporate Governance rules.
- Public Finance and Research methodology used in taxation.
- Projects and case studies on revenue practice.
- Become an expert in conducting tax audits.
As a Tax Advisor, it is imperative to clear a CPA exam. It is a four-part assessment which you need to complete in 18 months. The test assesses your knowledge and understanding of financial accounting, auditing and taxes. After its completion, you can easily apply for the license. It is state-specific, so ensure you find the documents to be sent along with your application.
Attributes and Skills For A Successful Career as a Tax Consultant.
Here is a list of skills you need to develop to become a thriving Tax Consultant:
1. Numerical Ability.
Tax preparation requires a tax advisor to have solid mathematical abilities, especially an aptitude for calculating interests, percentages and computation. This profession differs from accounting; however, a skilled tax consultant should have a strong foundation in math and economic principles.
2. Attention to Detail
Tax consultants constantly needs to review large quantities of financial reports and documents, so it is crucial to maintain focus. You must identify minor errors and inconsistencies to file correct tax information, thereby minimising tax liabilities.
3. Software Navigation.
This profession requires financial software to make electronic reports and spreadsheets. The tax consultants need to be proficient in computers and other forms of the latest technology related to their field. Nowadays, records and information are kept electronically to ensure their accuracy. Therefore, it is essential that if you are considering making a career in taxation, then it will be beneficial to be computer-savvy.
4. Accept Constructive Criticism
Feedback given constructively always lead to personal and professional growth. So if your mentors, bosses or clients give suggestions to better yourself, it is best to take it in a positive stride and learn from it. Using active listening skills and asking questions in case of ambiguities is always good.
5. Maintain a Professional and Efficient Organization.
Professional organisation in taxation refers to the skills that a person might use to facilitate an effective routine at work. It may include cleaning their workplace and methodically maintaining their paperwork or files. Confidential files and reports need to be handled accordingly. An organised work system is ideal for a functional system for both physical and digital client information files.
Steps To Become a Tax Consultant
A successful Tax Advisor or consultant should have a complete skill set so they can not only understand tax regulations but also creatively solve problems related to tax laws. Much of their work is related to reducing their client’s tax liabilities.
You can use a direct or indirect approach to cater to your education and hone your credential and job search.
The Direct Approach
1. Getting a Degree
Studying a taxation course offers a direct route to your career in taxation and accounting. Understanding taxes from a grass root level will make your foundation strong.
2. Practical Experience
Many training consultancies offer internships to their students. These sessions prove beneficial as you learn the practical usage of accounting software. Take advantage of such opportunities.
3. Seek Jobs
The certifications and agent credentials will help you with your official job as a Tax consultant. Advertise your new skills and knowledge on social media platforms such as LinkedIn, Twitter and Instagram to get multiple job offers.
The Indirect Approach
1. A Related Career
Some professionals switch to tax advisory positions after creating a niche for themselves in related areas such as Tax Attorney. It is easier to migrate into a tax consultant role as you are already familiar with Tax Consulting.
2. Plan your Shift
Research the job market extensively before shifting. If necessary, explore your credential options and create a relevant strategy to attract prospective clientele.
3. Begin your new career
Launch your practice or join a reputable firm that offers tax consulting services to corporates and business firms. You can also apply for Government agencies at the state, federal and local levels.
Tax Consultants must be highly dedicated and open to learning to gain professional growth. Tax regulations and growth are continually updated and often changed for new initiatives. Consultants must always be aware of these reforms to offer their clients the best advice. Additionally, there are multiple provisions to maintain a CPA license. These require regulating education on compliance, ethics and changing tax reforms. Participate in webinars, conferences and one-day workshops to keep yourself updated in your sector.
A Tax Consultant offers financial advice to businesses, individuals and organisations on taxation issues. The work profile includes submitting and preparing tax returns and representing clients in front of tax authorities in case of disputes and feuds.
A Tax Consultant’s pay depends on the company’s policies and the skill set the person has. The performance-based pay or incentive is said to massive in this industry, and therefore, one can earn huge dollars.
A Tax Advisor or specialist must be a financial expert in tax laws. Qualification such as CA, CS, B.Com and L.L.B will prove to be beneficial. Several institutes offer specialised certificate courses in taxation through which you can become a successful Tax specialist.
This job profile requires undivided attention and focus regarding implementing tax policies and other legislative rules. Also, tax regulations change continuously, so its the tax consultant’s job to be updated about the reforms and implement them correctly. the stress and pressure are perfectly proportionate with the salary and perks.
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