M&A Tax and Acquisition Accounting in Nigeria: Planning the Workstreams
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Transaction tax and acquisition accounting answer different questions. Tax review considers the consequences of the proposed structure and payments, while accounting determines how the transaction is recognised and reported under the applicable framework. Both need attention before completion.
Wigmore Trading welcomes transaction-planning and coordination enquiries. We can discuss the scope and information needed for specialist review. Tax opinions, accounting conclusions, filings and formal valuations require appropriately qualified professionals under agreed terms.
Define the transaction and dates
Identify the entities, jurisdictions, ownership, assets or shares transferred, consideration and intended completion date. Explain any restructuring, deferred payments or continuing shareholder interest. Advice based on a different structure may not fit the actual agreement.
| Workstream | Questions for specialists |
|---|---|
| Share or asset sale tax | Applicable treatment, parties, timing, exemptions and evidence |
| Transaction instruments | Stamp duties and documentation implications |
| Acquisition accounting | Applicable framework, transaction classification and reporting |
| Post-completion | Tax processes, records, opening balances and integration |
Use current Nigerian tax legislation
The Nigeria Tax Act 2025 is a relevant primary reference. Older articles about capital gains, shares or instruments may reflect superseded rules. Have a tax professional confirm the provisions and effective dates that apply to the particular transaction.
Do not assume every share sale is exempt or every asset sale has the same treatment. Identify the seller, purchaser, gains, instruments and any relief conditions. A label such as “tax-efficient structure” does not establish eligibility or eliminate tax.
Plan acquisition accounting early
The IFRS Foundation’s IFRS 3 overview describes recognition and measurement in business combinations, including identifiable assets, liabilities and goodwill. The accounting team must determine the applicable framework and whether the transaction falls within its scope.
Purchase price allocation, goodwill and intangible-asset valuation may require specialist inputs. A negotiated purchase price is not a substitute for the required accounting analysis. Establish evidence, responsibilities and reporting deadlines.
Connect diligence with reporting
Tax due diligence, financial review and legal documents should share a consistent transaction perimeter. Identify exposures, uncertain positions and records needed after the acquisition. Do not use an accounting adjustment to conceal an unresolved commercial or legal issue.
Plan how tax registrations, records, reporting calendars and responsibilities will operate after completion. A legal ownership change does not automatically integrate finance systems or resolve historic liabilities.
Can this page calculate the tax on my sale?
No. The result depends on the facts and current law. Obtain a transaction-specific professional assessment.
What should I send Wigmore?
Start with a non-confidential outline of the structure, parties, dates and review needed. Accounts, tax records and draft agreements should follow controlled access arrangements.
Prepare a non-confidential enquiry
Note your role, business sector, jurisdictions, transaction stage, target dates and the decision you need help with. State what is confirmed and what remains an assumption. Identify who is authorised to give instructions.
Do not send confidential deal documents, private banking or identity information, medical records or employee data through a general sales enquiry. Agree scope, confidentiality and access first. This checklist does not submit information.
Related planning guides
- Acquisition Finance in Nigeria: Debt, Equity and Funding Readiness
- Merger and Acquisition Approvals in Nigeria: FCCPC, SEC, CAC and Sector Review
- M&A Completion Terms in Nigeria: Price Adjustments, Earn-Outs and Protection
- Business Valuation in Nigeria: Company, Equity and Acquisition Value
- Financial Due Diligence and Quality of Earnings in Nigeria
Discuss the requirement with Wigmore Trading
Start with a non-confidential brief. We can discuss appropriate commercial preparation, sourcing or coordination support and identify the specialist workstreams required. Scope, fees, authority, professional appointments and deliverables are agreed for the engagement.
Discuss M&A tax advisory Nigeria on WhatsApp · Book an initial consultation · Email your enquiry
Prepared 3 November 2026. General process guidance does not establish a professional opinion, regulatory approval, live opportunity, finance offer or bound insurance cover. Actual providers and terms require confirmation.
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