All persons who earn income be it on a temporal or permanent basis; whether employees or individuals that carry out business activities are required to pay personal income tax. Tax due and payable by employees by reason of their employment, otherwise known as PAYE, should be deducted by their employers and remitted to the relevant tax authorities. On the other hand, the self – employed are required to assess themselves, file their returns and make payment on annual basis to the relevant tax authorities.

Direct Assessment is an assessment raised directly on self-employed persons (eg. Traders,Professionals, Contractors etc). Without notice or demand, a self employed person will file a return of income earned in the preceding year using Tax Form A.

P. A. Y. E. is an acronym for “Pay As You Earn”. It is a method of collecting personal income tax from employee`s salaries and wages through deduction at source by an employer for remittance to appropriate or relevant Tax authorities. It is a method of paying income tax.

Any individual who is in paid employment qualify to pay PAYE. Its mainly for people in an organized sector be it public or private institution.

The relevant law guiding the operation of P.A.Y.E is the Personal Income Tax Act (PITA) 2011 (S.81 of Personal Income Tax Act Cap P8 LFN 2004) and other sections of the schedules and regulation of the Act.

The registration requirements are as follows: a) A copy of certificate of incorporation or business name registration b) List of staff and their annual salaries. c) The Directors’ Tax Clearance Certificates (now Electronic Tax Clearance Certificate) d) Letter of application for registration. Upon completion of registration, an Employer’s Identification Number will be issued.

Basic Salary Housing Allowance Transport Allowance Meal Allowance Utility Allowance Entertainment Allowance Leave Allowance Compensation, bonuses, premiums etc. 13th Salary Benefits in Kind Other Allowances

The sixth schedule of PITA, 2011 (Amendment), listed the following as tax exempt: 1. National Housing Fund contributions. A Nigerian worker in both the public and the private sectors of the economy shall contribute 2.5 % of his basic monthly salary to the Fund. 2.National Health Insurance Scheme contributions. Under NHIS , Federal Government employer and employee shall both bear 5% contribution to the scheme. Federal employer to bear 3.25% & 1.75% representing contribution from the employee’s consolidated salary. While that of private establishment employer & its employees shall both bear 15%. 10% from the employer and 5% from the employee’s basic salary. However, the employer may decide to bear the whole of the contribution depending on the operating policy of the organization. 3. Life Assurance Premium: This depend on the policy in operation by the organization. 4. National Pension Scheme: A Pension contributory scheme is a scheme designed to ensure employees derive the benefit of being paid their pension adequately and as when due upon retirement. The Pension Commission regulates the fund. In the past rate was 15%, split evenly between the parties i.e the employer & the employee. The current rate is 18% – Nigeria 2014 Pension Reform Act. This is to be borne by both the employer 10% and employee 8% of Basic Salary, Housing allowance & Transport allowance. 5. Gratuities: This is computed on bases of the employee’s grade level, step and basic salary at the point of exit from active service. Note that the above exemptions are subject to verification and evidences for informed judgment

Add your income from all sources, less the consolidated relief/allowance (200,000.00 + 20% of gross income). “The balance is to be taxed after removing all statutory deductions applicable to such taxpayer as listed below: • Contribution to Pension • Contribution to National Housing Fund • National Health Insurance Scheme • Life Assurance Premium • Gratuities The balance is taxed using the following method: first 300,000.00 @ 7% Next 300,000.00 @ 11% Next 500,000.00 @ 15% Next 500,000.00 @ 19% Next 1,600,000.00 @ 21% Above 3,200,000.00 @ 24% The tax as computed above is compared to a minimum tax of 1% of Gross Income; whichever is higher is the tax payable.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

PAYE deducted is expected to be remitted to the relevant tax authority latest by the 10th day of the following the month of deduction.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

10% penalty of the amount due plus interest at commercial rate per annum for failure to remit the tax.

Yes, TCC obtained in any state is valid in any part of the country.

The TCC is expected to be issued within 2 weeks of application by the tax payer and it shows that the taxpayer has been cleared of all the tax liabilities for the past three (3) years preceding the current year of assessment. Where the TCC is not issued within 2 weeks period, a notice of refusal is issued to the taxpayer.

The TCC contains information on taxpayer for the past 3 years as follows: 1. Chargeable Income 2. Tax payable 3. Tax paid 4. Tax outstanding or alternatively a statement to the effect that no tax is due 5. Taxpayer Identification Number

An idividual requesting for TCC is expected to do the following: 1. Typed application letter stating purpose for the TCC. 2. Payslips/salary schedules one in the first and last quarter of the three years of assessment (i.e. two for each year of assessment) 3. Salary Account. 4. Photocopy of staff ID card. 5. One passport. 6. Execution of Assessment Data Form (duly stamped by the officer in charge). 7. Letter of Introduction from your organisation.

1. Typed application letter stating purpose for the TCC 2. Bank statement for the past three (3) years preceding the current year of assessment e.g from January 2015 – December 2017. 3. Photocopy of valid means of identification 4. One passport photograph 5. Execution of form A 6. Certificate of registration from CAC (if applicable)

The transaction specifically mentioned in the Act which requires the production of TCC are: (a) Application for Government loan for industry or business; (b) Registration of motor vehicle; (c) Application for firearms licence; (d) Application for foreign exchange or exchange control permission to remit funds outside Nigeria; (e) Application for certificate of occupancy; (f) Application for award of contracts by Government, its agencies and registered companies; (g) Application for approval of building plans; (h) Application for trade licence; (i) Application for transfer of real property; (j) Application for import or export licence; (k) Application for agent licence; (l) Application for pools or gaming licence; (m) Application for registration as a contractor; (n) Application for distributorship; (o) Confirmation of appointment by Government as chairman or member of a public board, institution, commission, company or to any other similar position made by the Government; (p) Stamping of guarantor’s form for a Nigerian passport; (q) Application for registration of a limited liability company or of a business name; (r) Application for allocation of market stalls; (s) Appointment or election into public office. (t) For change of ownership of vehicle by the vendor; (u) Application for plot of land; and (v) Any other transaction as may be determined from time to time.

All persons who earn income be it on a temporal or permanent basis; whether employees or individuals that carry out business activities are required to pay personal income tax. Tax due and payable by employees by reason of their employment, otherwise known as PAYE, should be deducted by their employers and remitted to the relevant tax authorities. On the other hand, the self – employed are required to assess themselves, file their returns and make payment on annual basis to the relevant tax authorities.

Direct Assessment is an assessment raised directly on self-employed persons (eg. Traders,Professionals, Contractors etc). Without notice or demand, a self employed person will file a return of income earned in the preceding year using Tax Form A.

P. A. Y. E. is an acronym for “Pay As You Earn”. It is a method of collecting personal income tax from employee`s salaries and wages through deduction at source by an employer for remittance to appropriate or relevant Tax authorities. It is a method of paying income tax.

Any individual who is in paid employment qualify to pay PAYE. Its mainly for people in an organized sector be it public or private institution.

The relevant law guiding the operation of P.A.Y.E is the Personal Income Tax Act (PITA) 2011 (S.81 of Personal Income Tax Act Cap P8 LFN 2004) and other sections of the schedules and regulation of the Act.

The registration requirements are as follows: a) A copy of certificate of incorporation or business name registration b) List of staff and their annual salaries. c) The Directors’ Tax Clearance Certificates (now Electronic Tax Clearance Certificate) d) Letter of application for registration. Upon completion of registration, an Employer’s Identification Number will be issued.

Basic Salary Housing Allowance Transport Allowance Meal Allowance Utility Allowance Entertainment Allowance Leave Allowance Compensation, bonuses, premiums etc. 13th Salary Benefits in Kind Other Allowances

The sixth schedule of PITA, 2011 (Amendment), listed the following as tax exempt: 1. National Housing Fund contributions. A Nigerian worker in both the public and the private sectors of the economy shall contribute 2.5 % of his basic monthly salary to the Fund. 2.National Health Insurance Scheme contributions. Under NHIS , Federal Government employer and employee shall both bear 5% contribution to the scheme. Federal employer to bear 3.25% & 1.75% representing contribution from the employee’s consolidated salary. While that of private establishment employer & its employees shall both bear 15%. 10% from the employer and 5% from the employee’s basic salary. However, the employer may decide to bear the whole of the contribution depending on the operating policy of the organization. 3. Life Assurance Premium: This depend on the policy in operation by the organization. 4. National Pension Scheme: A Pension contributory scheme is a scheme designed to ensure employees derive the benefit of being paid their pension adequately and as when due upon retirement. The Pension Commission regulates the fund. In the past rate was 15%, split evenly between the parties i.e the employer & the employee. The current rate is 18% – Nigeria 2014 Pension Reform Act. This is to be borne by both the employer 10% and employee 8% of Basic Salary, Housing allowance & Transport allowance. 5. Gratuities: This is computed on bases of the employee’s grade level, step and basic salary at the point of exit from active service. Note that the above exemptions are subject to verification and evidences for informed judgment

Add your income from all sources, less the consolidated relief/allowance (200,000.00 + 20% of gross income). “The balance is to be taxed after removing all statutory deductions applicable to such taxpayer as listed below: • Contribution to Pension • Contribution to National Housing Fund • National Health Insurance Scheme • Life Assurance Premium • Gratuities The balance is taxed using the following method: first 300,000.00 @ 7% Next 300,000.00 @ 11% Next 500,000.00 @ 15% Next 500,000.00 @ 19% Next 1,600,000.00 @ 21% Above 3,200,000.00 @ 24% The tax as computed above is compared to a minimum tax of 1% of Gross Income; whichever is higher is the tax payable.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

PAYE deducted is expected to be remitted to the relevant tax authority latest by the 10th day of the following the month of deduction.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

10% penalty of the amount due plus interest at commercial rate per annum for failure to remit the tax.

All persons who earn income be it on a temporal or permanent basis; whether employees or individuals that carry out business activities are required to pay personal income tax. Tax due and payable by employees by reason of their employment, otherwise known as PAYE, should be deducted by their employers and remitted to the relevant tax authorities. On the other hand, the self – employed are required to assess themselves, file their returns and make payment on annual basis to the relevant tax authorities.

Direct Assessment is an assessment raised directly on self-employed persons (eg. Traders,Professionals, Contractors etc). Without notice or demand, a self employed person will file a return of income earned in the preceding year using Tax Form A.

P. A. Y. E. is an acronym for “Pay As You Earn”. It is a method of collecting personal income tax from employee`s salaries and wages through deduction at source by an employer for remittance to appropriate or relevant Tax authorities. It is a method of paying income tax.

Any individual who is in paid employment qualify to pay PAYE. Its mainly for people in an organized sector be it public or private institution.

The relevant law guiding the operation of P.A.Y.E is the Personal Income Tax Act (PITA) 2011 (S.81 of Personal Income Tax Act Cap P8 LFN 2004) and other sections of the schedules and regulation of the Act.

The registration requirements are as follows: a) A copy of certificate of incorporation or business name registration b) List of staff and their annual salaries. c) The Directors’ Tax Clearance Certificates (now Electronic Tax Clearance Certificate) d) Letter of application for registration. Upon completion of registration, an Employer’s Identification Number will be issued.

Basic Salary Housing Allowance Transport Allowance Meal Allowance Utility Allowance Entertainment Allowance Leave Allowance Compensation, bonuses, premiums etc. 13th Salary Benefits in Kind Other Allowances

The sixth schedule of PITA, 2011 (Amendment), listed the following as tax exempt: 1. National Housing Fund contributions. A Nigerian worker in both the public and the private sectors of the economy shall contribute 2.5 % of his basic monthly salary to the Fund. 2.National Health Insurance Scheme contributions. Under NHIS , Federal Government employer and employee shall both bear 5% contribution to the scheme. Federal employer to bear 3.25% & 1.75% representing contribution from the employee’s consolidated salary. While that of private establishment employer & its employees shall both bear 15%. 10% from the employer and 5% from the employee’s basic salary. However, the employer may decide to bear the whole of the contribution depending on the operating policy of the organization. 3. Life Assurance Premium: This depend on the policy in operation by the organization. 4. National Pension Scheme: A Pension contributory scheme is a scheme designed to ensure employees derive the benefit of being paid their pension adequately and as when due upon retirement. The Pension Commission regulates the fund. In the past rate was 15%, split evenly between the parties i.e the employer & the employee. The current rate is 18% – Nigeria 2014 Pension Reform Act. This is to be borne by both the employer 10% and employee 8% of Basic Salary, Housing allowance & Transport allowance. 5. Gratuities: This is computed on bases of the employee’s grade level, step and basic salary at the point of exit from active service. Note that the above exemptions are subject to verification and evidences for informed judgment

Add your income from all sources, less the consolidated relief/allowance (200,000.00 + 20% of gross income). “The balance is to be taxed after removing all statutory deductions applicable to such taxpayer as listed below: • Contribution to Pension • Contribution to National Housing Fund • National Health Insurance Scheme • Life Assurance Premium • Gratuities The balance is taxed using the following method: first 300,000.00 @ 7% Next 300,000.00 @ 11% Next 500,000.00 @ 15% Next 500,000.00 @ 19% Next 1,600,000.00 @ 21% Above 3,200,000.00 @ 24% The tax as computed above is compared to a minimum tax of 1% of Gross Income; whichever is higher is the tax payable.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

PAYE deducted is expected to be remitted to the relevant tax authority latest by the 10th day of the following the month of deduction.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

10% penalty of the amount due plus interest at commercial rate per annum for failure to remit the tax.

All persons who earn income be it on a temporal or permanent basis; whether employees or individuals that carry out business activities are required to pay personal income tax. Tax due and payable by employees by reason of their employment, otherwise known as PAYE, should be deducted by their employers and remitted to the relevant tax authorities. On the other hand, the self – employed are required to assess themselves, file their returns and make payment on annual basis to the relevant tax authorities.

Direct Assessment is an assessment raised directly on self-employed persons (eg. Traders,Professionals, Contractors etc). Without notice or demand, a self employed person will file a return of income earned in the preceding year using Tax Form A.

P. A. Y. E. is an acronym for “Pay As You Earn”. It is a method of collecting personal income tax from employee`s salaries and wages through deduction at source by an employer for remittance to appropriate or relevant Tax authorities. It is a method of paying income tax.

Any individual who is in paid employment qualify to pay PAYE. Its mainly for people in an organized sector be it public or private institution.

The relevant law guiding the operation of P.A.Y.E is the Personal Income Tax Act (PITA) 2011 (S.81 of Personal Income Tax Act Cap P8 LFN 2004) and other sections of the schedules and regulation of the Act.

The registration requirements are as follows: a) A copy of certificate of incorporation or business name registration b) List of staff and their annual salaries. c) The Directors’ Tax Clearance Certificates (now Electronic Tax Clearance Certificate) d) Letter of application for registration. Upon completion of registration, an Employer’s Identification Number will be issued.

Basic Salary Housing Allowance Transport Allowance Meal Allowance Utility Allowance Entertainment Allowance Leave Allowance Compensation, bonuses, premiums etc. 13th Salary Benefits in Kind Other Allowances

The sixth schedule of PITA, 2011 (Amendment), listed the following as tax exempt: 1. National Housing Fund contributions. A Nigerian worker in both the public and the private sectors of the economy shall contribute 2.5 % of his basic monthly salary to the Fund. 2.National Health Insurance Scheme contributions. Under NHIS , Federal Government employer and employee shall both bear 5% contribution to the scheme. Federal employer to bear 3.25% & 1.75% representing contribution from the employee’s consolidated salary. While that of private establishment employer & its employees shall both bear 15%. 10% from the employer and 5% from the employee’s basic salary. However, the employer may decide to bear the whole of the contribution depending on the operating policy of the organization. 3. Life Assurance Premium: This depend on the policy in operation by the organization. 4. National Pension Scheme: A Pension contributory scheme is a scheme designed to ensure employees derive the benefit of being paid their pension adequately and as when due upon retirement. The Pension Commission regulates the fund. In the past rate was 15%, split evenly between the parties i.e the employer & the employee. The current rate is 18% – Nigeria 2014 Pension Reform Act. This is to be borne by both the employer 10% and employee 8% of Basic Salary, Housing allowance & Transport allowance. 5. Gratuities: This is computed on bases of the employee’s grade level, step and basic salary at the point of exit from active service. Note that the above exemptions are subject to verification and evidences for informed judgment

Add your income from all sources, less the consolidated relief/allowance (200,000.00 + 20% of gross income). “The balance is to be taxed after removing all statutory deductions applicable to such taxpayer as listed below: • Contribution to Pension • Contribution to National Housing Fund • National Health Insurance Scheme • Life Assurance Premium • Gratuities The balance is taxed using the following method: first 300,000.00 @ 7% Next 300,000.00 @ 11% Next 500,000.00 @ 15% Next 500,000.00 @ 19% Next 1,600,000.00 @ 21% Above 3,200,000.00 @ 24% The tax as computed above is compared to a minimum tax of 1% of Gross Income; whichever is higher is the tax payable.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

PAYE deducted is expected to be remitted to the relevant tax authority latest by the 10th day of the following the month of deduction.

An employer who fails to make proper tax deduction or fails to account properly for deductions made commits an offence and is liable on conviction to a penalty of the total sum of taxes due and 10% per annum thereon. Employer are also liable to interest and penalty for late or non-remittance at CBN prevailing rate.

10% penalty of the amount due plus interest at commercial rate per annum for failure to remit the tax.