Compliance Management Solution

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Compliance Management Solution (CMS)—Financial institutions (Banking and Non-banking institution) must maintain a sound compliance management with a solution that ensure your policies and procedures adhere to provisions of federal laws and regulations. In partnership with Etrends India we have a compliance management solution which will help increase compliance level of your organization. At a glance learn the compliance status of your organization.

Laser Legal Compliance Solution (LLCS) provides a centralized, access-controlled environment for monitoring status of legal compliances you face. LLCS® is a flexible web-based solution that brings compliance team, compliance owners and management on the same platform. LLCS® establishes a transparent and uniform process for managing legal compliances of your organization.

KEY LLCS FEATURES

Dashboard:

Get enterprise level, location level, risk category level, department level and law level status of compliance at a glance. Easily monitor status of critical and high risks category compliances.

Compliance Universe:

Allows creating laws, acts, compliance and events that are applicable to your organization. Allows import of compliance to jump-start you with the application.

Time Based Compliance:

Create reoccurring time based compliance. Set the reoccurrence frequency and let LLCS® do the rest. It will automatically trigger compliances to the right compliance owner year-after-year.

Event Checklist:

Create reoccurring event checklist. LLCS® will automatically create checklist for the correct owner to confirm occurrence of the event.

Event Based Compliance:

LLCS® automatically triggers event based compliances when occurrence of one event is confirmed.

My Compliances:

On one single screen, compliance owner can view list of compliance that they are required to comply in a week, a month or a quarter. One can update the compliances as complied and upload proof of compliance.

Knowledgebase:

Organizes compliance information at one central place giving access to information when it’s needed the most. Browse it law-wise, Act-wise or simply do a keyword search.

Compliance Certificate:

Compliance certificates can be created within the application at all levels to certify the compliances/non-compliances before the CEO certifies the compliances. Creates transparency and confidence in issuing compliance certificate.

Workflow:

Built-in workflows to monitor and control decentralized compliance management. LLCS® has best practice workflow to manage changes in compliance, compliance due date changes and extensions in compliance due date. Audit trails are managed at each step for one to investigate in the event if something goes wrong.

Automatic Reminders and Escalations:

Automatic compliance reminder keeps compliance owners updated on upcoming compliances. Timely reminders and automatic follow-ups increases the overall compliance level of the organization. Automatically escalates compliances that remain non-complied before “X” no. of days from compliance due date.

Reports:

Compliance report gives complete compliance related information such as compliance due date, compliance owner, compliance status etc. Event checklist report indicates if a specific event occurred or not and if occurred then status of compliances related to the event. Compliance certificate report gives status of issuing compliance certificate by different individuals at all levels.

Complete control over Masters:

Administrator of LLCS® has complete control to configure the masters completely as per individual organizations requirement. Create and manage masters such as Users, SBU, Location, Department, Law, Act, Compliance etc.

Compliance Management Solution

The transition to the Nigeria Tax Act (NTA) 2025 is now in its active delivery stage. As of MAY 2026, the "grace period" of the new regime is ending, and the Nigeria Revenue Service (NRS) has begun active enforcement.
Understanding the specific windows for compliance and the penalties for missing them is new to avoiding financial sanctions. It is worth noting that NTA 2025 is not newly introduced. Compliance window or offenses instead the framework is designed to bring absolute clarity to taxpayers.

  1. Timeline of Enforcement
    The transition followed a phased "Activation" model:
    June 26, 2025: President Tinubu signed the four primary Reform Bills. The Nigeria Revenue Service Act, Nigeria Tax Administration Act, Nigeria Tax Act and Joint Revenue Board Act became legally effective on this date to allow for the structural rebranding of the
    FIRS to the NRS.
    January 1, 2026: The Commencement Date. All new tax rates (including the 0% rate for small businesses 30% for large companies and the 4% Development Levy) and administrative procedures became mandatory.
    April - June 2026: The First Filing Cycle. Companies with a December 31 year-end are currently navigating their first full filing period under the unified NTA 2025 rules.
    January 1, 2028: The sunset date for certain Free Trade Zone exemptions. After this date, entities in these zones will be fully liable for tax on sales to the customs territory.
  2. Timelines for Filing and Extensions
    The Nigeria Tax Administration Act (NTAA) 2025 has harmonized filing deadlines across the country.
    Standard Deadlines
    Company Income Tax (CIT): Must be filed within 6 months after the end of the company's accounting year.
    VAT & Withholding Tax: Returns must be submitted on or before the 21st day of the following month (for VAT) and 30th day (for WHT) of the following month.
    PAYE: Must be remitted on or before 10th day of the following month.
    Extensions
    The NRS may grant an extension for filing if a taxpayer applies before the deadline and
    provides a valid reason (e.g., system outages or serious technical difficulties).
    Note: An extension of the filing date does not automatically extend the payment date .
    You may still be required to make a "provisional payment" to avoid interest charges while the extension is active.
  3. Enforcement of the Act: “New Teeth"
    The NRS has significantly more autonomy than the previous FIRS. They are now empowered to enforce compliance through automated and digital means.
    Digital Focalization
    The NRS is deploying a "single window" digital platform. Enforcement is now largely automated:
    Automatic Flags: The system automatically flags businesses that have a turnover above
    ₦100M (tracked via bank records) but are still claiming the 0% "Small Company" tax rate.
    Technology Access: Refusing to grant the NRS access to your business's digital
    accounting systems for an audit carries a massive penalty of ₦1,000,000 for the first day
    and ₦10,000 for every day the refusal continues.
    Modern Sanctions (The "Cost of Failure")
    The 2026 penalty regime is designed to make non-compliance more expensive than the tax
    itself:
    Offense | Penalty (2026 Rates)
    Failure to Register for Tax ₦50,000 first month; ₦25,000 each subsequent month.
    Failure to File Returns ₦100,000 first month; ₦50,000 each subsequent month.
    Late Remittance of WHT Original tax + 10% penalty + Interest at CBN rate.
    False Refund Claims 100% of the amount claimed + interest.
    Obstruction of Officers ₦1,000,000 administrative penalty + potential imprisonment.
    Strategic Advice: With the ₦100,000 initial penalty for simple filing defaults, the NRS is
    signaling that "silence" is no longer an option. Even for small businesses with 0% tax
    liability, filing a "Nil Return" is the only way to prove compliance and avoid automated fine
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