Nigeria

Taxable period

The taxable year is the fiscal year, which runs from 1 January to 31 December.

Tax returns

Returns should be filed with the relevant tax authority within 90 days of the end of the fiscal year.

Taxpayers with an income of NGN 30,000 (NGN 70,000 effective from 1 May 2024) or less are not required to file tax returns.

Every employer is required to file a return of all emoluments paid to its employees not later than 31 January of every year in respect of all employees in its employment in the preceding year.

Payment of tax

Pay-As-You-Earn (PAYE) tax must be remitted on or before the 10th day of the month following the month in which salaries were paid.

Tax audit process

The relevant State Internal Revenue is empowered by law to collect taxes on income of individuals, except the following persons, who are assessed to tax by the Federal Inland Revenue Service:

• Persons employed by the Nigerian Army, Navy, Air Force, and Police Force, other than in a civilian capacity, and officers of the Nigerian Foreign Service.
• Every resident of the Federal Capital Territory.
• Persons not resident in Nigeria who derive income or profit from Nigeria.

Apart from the above, no tier of government has legal authority to impose tax on the income of individuals.