Tax Assistant
Ask me anything about Nigerian tax law
🇳🇬 Tax Act 2025
Hello! I'm TaxWiz 👋
Your intelligent assistant for Nigerian Tax Law. Ask me about tax definitions, rates, obligations, and more — grounded in the Nigerian Tax Act 2025.
What is income tax?
What is VAT?
Who pays tax?
Taxable income
Answers are based on the Nigerian Tax Act 2025 · Not legal advice
Tax Calculator
Compute your Nigerian tax liability based on Tax Act 2025 rates
Personal Income (PAYE)
Company Income Tax
VAT
Withholding Tax
Personal Income Tax (PAYE) uses a graduated rate: 7% on the first ₦300k, rising to 24% above ₦3.2M annually. A minimum tax of 1% of gross income applies where computed tax is lower.
Enter your annual gross income to see your PAYE breakdown.
📊 PAYE Breakdown
Gross Annual Income—
Total Reliefs & Deductions—
Taxable Income—
Computed Tax—
Minimum Tax (1%)—
Annual Tax Payable—
Monthly PAYE Deduction—
Effective Tax Rate—
| Income Band | Rate | Tax |
|---|
⚠️ Estimate based on standard reliefs. Actual PAYE may vary with additional allowances and employer arrangements.
Company Income Tax (CIT): Small companies (≤ ₦25M turnover): 0%. Medium (₦25M–₦100M): 20%. Large (> ₦100M): 30% of taxable profit.
Enter turnover and assessable profit to see the company tax due.
📊 CIT Breakdown
Annual Turnover—
Company Category—
CIT Rate—
Assessable Profit—
Capital Allowances—
Taxable Profit—
CIT Payable—
⚠️ Education tax (3% of assessable profit) and other levies may apply separately.
VAT in Nigeria is charged at 7.5%. Basic food, medical supplies, educational materials, baby products, and exported goods/services are exempt.
Enter a transaction amount to split out the 7.5% VAT.
📊 VAT Breakdown
VAT Rate7.5%
Net Amount (excl. VAT)—
VAT Amount—
Total (incl. VAT)—
⚠️ VAT-exempt: basic food, medical supplies, educational materials, baby products, exported services.
Withholding Tax (WHT) is deducted at source and remitted to FIRS within 21 days. It acts as a credit against the recipient's final tax liability.
Enter an amount and transaction type to see the WHT deducted.
📊 WHT Breakdown
Gross Amount—
WHT Rate—
WHT Deducted—
Net Amount Payable—
⚠️ WHT is a credit against the recipient's final tax. Remit to FIRS within 21 days of deduction.