Yes. Under NTA §56, a small company — gross turnover at or below ₦50,000,000.00/year and fixed assets at or below ₦250,000,000.00, excluding professional-services businesses — pays 0% Companies Income Tax. Filing is still required even at 0% owed; only the amount owed changes.
Both thresholds must be met at the same time — a company under the turnover ceiling but over the fixed-assets ceiling (or vice versa) still doesn't qualify, even though either figure alone would pass.
| Threshold | Value |
|---|---|
| Turnover ceiling | ₦50,000,000.00 |
| Fixed-assets ceiling | ₦250,000,000.00 |
| Rate if eligible | 0% |
Professional-services businesses are excluded from small-company status regardless of turnover.
File a full annual CIT return within 6 months of your fiscal year-end, even though ₦0 is owed. New companies: within 18 months of incorporation or 6 months of your first accounting period, whichever is earlier.
Standard Companies Income Tax rates apply — enter your taxable profit (the figure from your accountant or latest management accounts, not your raw revenue) directly in the CIT calculator above to get an estimate at the flat 30% rate. That estimate doesn't include the 4% Development Levy or the 15% minimum effective tax rate that may apply to large companies — confirm your final liability with a tax professional.
Yes, it's free with no account needed. Calculations run on your device and are never sent to a server.
No — for guidance only, not tax advice.
Sourced from the Nigeria Tax Act 2025 — see full citations →
Not sure whether your company owes CIT at all? Read the guide.