Incorporating doesn't automatically mean a tax bill — whether your company owes Companies Income Tax (CIT), and how much, depends on its size.
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.
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.
Check your own turnover and fixed assets against the small-company thresholds.
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. 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.
No — for guidance only, not tax advice.