Nigeria

Paying Taxes in

Nigeria

Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in December 2012.

Compare Nigeria to 188 other economies.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Corporate income tax 1 398 30% taxable profit 20.5
Social Security Contributions 12 396 7.5% gross salaries 8.5
Tertiary education trust fund contribution 0 paid jointly 2% taxable profit 1.4
Employee Compensation Contribution paid by the employer 12 1% gross salaries 1.1
Training Tax 1 1% gross salaries 1.1
Capital gains tax 1 10% capital gains 0.5
Tax on money market interest 0 withheld 10% interest income 0.3 not included
Tenement Tax 1 0.125% property value 0.2
Stamp duty on checks 1 5% 5/1000 of value of check 0.2
Road license 1 NGN 5,000 per vehicle fixed fee depending on type of vehicle 0.2
State business levy 1 NGN 5,000 fixed fee 0.1
Infrastructure Development Tax 1 NGN 100 per employee fixed fee 0.1
Fuel tax 1 included in fuel price 0
Advertising tax 1 various rates .. small amount
Stamp duty on contracts 1 .. small amount
Value added tax (VAT) 12 162 5% value added .. not included
Totals: 47 956 33.8

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