{ "docId": "019dd923-5ca1-7489-b639-e5e7647e2bfe", "docSlug": "c163cc6f7c9a1132", "documentTitle": "PwC’s MSME Survey 2020 Building to Last", "authorId": "PwC", "authorName": "PwC", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 30, "pageCount": 84, "prevPage": 29, "nextPage": 31, "slideType": "key_messages", "function": "summarize", "density": "overcrowded", "nDataPoints": 0, "notes": "PwC branding present. The slide uses a 5-column layout with icons to present strategic advice.", "elementsJson": [ "headline_text", "paragraph", "icon_grid" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b639-e5e7647e2bfe/30", "deckHref": "/decks/019dd923-5ca1-7489-b639-e5e7647e2bfe", "deckJsonHref": "/decks/019dd923-5ca1-7489-b639-e5e7647e2bfe.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b639-e5e7647e2bfe#slide-30", "components": [ { "bbox": null, "kind": "callout", "text": "The Finance Act 2020 has provided a fairly soft-landing for SMEs whose performance might have been more impacted negatively in the face of the pandemic and recession.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd951-dfa4-712e-8315-e40e5fa1dfcc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.94, "x": 0.03, "y": 0.25 }, "kind": "list", "text": "Embrace tax technology; Exemptions and restructuring; Deductible tax costs; Avoid penalties; Stay informed", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f81ad91e-5596-4d64-a342-71d3a7727b76", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.18, "x": 0.23, "y": 0.42 }, "kind": "paragraph", "text": "Companies totally exempt from Companies Income Tax (CIT) could divert funds to strengthen their technology base and invest in research and development. Companies not entitled to CIT exemptions may choose to leverage exemptions from research and development. They can also disintegrate substantially different businesses where it is commercial to do so.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2ded7b26-ff88-4c60-a272-6b6338b739c2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.14, "x": 0.83, "y": 0.42 }, "kind": "paragraph", "text": "There is a new wave of energy from the legislators and tax authorities to review the tax laws and increase revenues. Staying informed is critical. Take advantage of free seminars and fee paying business sessions that address business growth and provide updates on tax laws. The information gained can save you tax costs that could reduce margins and hamper growth.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3e11d24a-fd09-416e-9805-e26768ee5b9a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.18, "x": 0.63, "y": 0.42 }, "kind": "paragraph", "text": "MSMEs should pay attention to the increase in penalties of failure or late VAT registration as this may pose a threat to their profit where their returns are not filed on time. However, they may leverage extended payment period during the COVID-19 pandemic.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "50938c6f-a60e-4e31-9d7b-eadb71be06b8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.18, "x": 0.03, "y": 0.42 }, "kind": "paragraph", "text": "SMEs and companies should leverage technologies to compute their tax and prepare their returns online. This would help simplify tax processes and prevent extra costs of late documentation and payment. Some state tax authorities now have digital platforms for filing taxes. Choose these over negotiations with unscrupulous tax officials who do not represent the intent of the government,", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "950311ab-6936-44d7-839f-6123dcf1e24a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.5, "w": 0.18, "x": 0.43, "y": 0.42 }, "kind": "paragraph", "text": "The free carry forward of tax losses against future taxable profits is especially beneficial for startups who made substantial losses in the first few years of business. They may also request tax deduction for bad debts if possible. VAT registration is not mandatory for SMEs but there could still be irrecoverable VAT costs from procurement that hit your margins so voluntary registration may be considered. For the most part the VAT law will still need amendment to expand recoverable VAT especially now that the VAT rate has increased and to ensure Nigeria's VAT laws compare to other countries with higher rates. Ultimately, do not lose sight of VAT recoveries. Documentation is key to support tax deductions.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fcd25252-2712-41d3-9eae-c18fab35a727", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.94, "x": 0.03, "y": 0.13 }, "kind": "paragraph", "text": "The Finance Act 2020 has provided a fairly soft-landing for SMEs whose performance might have been more impacted negatively in the face of the pandemic and recession. Here are ways to leverage the provisions made, to further propel business performance and stay afloat:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fd0881f9-43e1-4492-85ef-8067206baf67", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.35, "x": 0.03, "y": 0.03 }, "kind": "title", "text": "Key tax Considerations for SMEs", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8946b106-3ea0-4a35-ba1f-a1a7c6be464e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Three Pillars", "slug": "three-pillars", "agent": "Architect", "layer": "block", "matchId": "019de928-2b28-770c-b97b-f9dc1667ad2b", "evidence": "Five icon-driven tax considerations laid out as parallel strategic levers", "confidence": 60 } ], "frameworks": [], "arcBeats": [ { "to": 49, "from": 23, "beatId": "019de928-2462-77ae-a321-fc5ccf19dbe1", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Solution & Approach", "beatSlug": null, "evidence": "tax/finance/growth chapters each pair diagnosis with PwC recommendations", "position": 3, "confidence": 82, "parentBeatName": null, "parentBeatSlug": null }, { "to": 49, "from": 20, "beatId": "019de928-250b-757f-b3ad-ac9a7881ccf1", "arcName": "The Triple Take", "arcSlug": "triple-take", "beatName": "The Implications (So What)", "beatSlug": null, "evidence": "case studies + so-what callouts framing implications of the pain points", "position": 2, "confidence": 55, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [ { "to": 30, "from": 23, "name": "Iceberg", "slug": "10-iceberg", "bestFor": "Consulting, complex problem solving, organizational change", "matchId": "019de928-25b4-745f-b7b4-b2314d6b655d", "evidence": "Section divider on Finance Act → recommendations → which tax is hardest → root challenges → tax burden % → key tax considerations", "position": 4, "objective": "Surface tax pain (visible) → systemic multi-tax burden → policy recommendations", "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause", "confidence": 70, "description": "Reveal that the visible problem is merely a symptom of a deeper root cause" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }