Nigeria – Apply for a Tax Return
- Apply In-Person:
- Apply Online. Note: To make use of the online application, the applicant must have already obtained a registration to access e-filing.
- Head office, Federal Inland Revenue Services, Patrick Yakowa St, Lugbe, Abuja, Nigeria. Contact number: +234 907 377 7777.
Do schools pay tax in Nigeria?
Under CITA, all Nigerian companies are subject to tax on their profits. In addition, under the Tertiary Education Tax Act 2011 (TETA) (which repealed the Education Tax Act) all Nigerian companies are liable to education tax at 2% of their assessable profits (tax adjusted profit before capital allowances).
Do farmers pay tax in Nigeria?
Agriculture sector in Nigeria enjoys Pioneer Status with attendant tax exemption to all companies operating therein. Agribusiness is tax free. The payments of minimum tax by companies that make small or no profits at all do not apply to agro-allied business.
Do NGOs pay tax in Nigeria?
According to Section 23 (1) of CITA, all NGOs are generally tax exempt, provided they do not have profits derived from any trade or business. Foreign NGOs operating in Nigeria are exempt from income tax and are eligible for exemptions from other taxes under double-taxation treaties.
How many percent is income tax in Nigeria?
24 percent
The Personal Income Tax Rate in Nigeria stands at 24 percent. source: Federal Inland Revenue Service, Nigeria.
What kind of taxes do you pay in Nigeria?
Tax types in Nigeria is what many Nigerians are not aware of. This is in spite of the fact that ignorance is not an excuse of the law. As an individual or a business in Nigeria, you are liable to the payment of any tax and you fail to pay it, ignorance of the law cannot be used as a genuine excuse for such act of omission.
Where does the money come from in Nigeria?
In 2015, the federal government of Nigeria collected over 3.7 trillion Naira in taxes. This could come from several sources such as Personal Income Tax, Payroll Tax, Corporate Tax, Tariffs and many more.
What has been the history of taxation in Nigeria?
The modern taxing system by the Federal Government of Nigeria under it taxation arm; Federal Board of Inland Revenue (FBIR) could be traced back to the year 1939 when the Companies Income Tax Ordinance was created.
How is capital gains tax calculated in Nigeria?
Capital Gains Tax (CGT): All the companies registered in Nigeria which earn any capital gains are liable to Capital Gains Tax. Capital Gains Tax is calculated and submitted with Companies Income Tax to FIRS through Designated Bank. Also Read: 7 Amazing Books That Will Teach You How to Better Manage Your Money.
