Business And Income Tax Rates In Nigeria?

i take it that we don't pay taxes in nigeria?  no one ? hello any response?

@ 50kobo,
I pay an income tax of 22% of my income to Asiwaju Bola Ahmed Tinubu (the BAT man). Based on my datbase of company results, banks pay ~15% of their earnings as tax. For other companies, it seems to be all over the place.

A google search of "Nigeria Tax Rates" came up with this link that shows income tax rates are 30% but can be reduced to 20% for certain industries (Agric, manufacturing, ). Interesting! Also has info on VAT, dividend withholding tax and PPT.

http://www.nationsencyclopedia.com/Africa/Nigeria-TAXATION.html

50kobo, next time do your own homework and don't rely on efikos like me!

Taxes are complicated all over the world. Get a tax consultant.

do we actually pay income tax in Nigeria. if we do then why do most people only get their Tax Clearance Certificate only when they want to hold an important political position. someone please correct here if i'm wrong!

@  jenny2007,

Majority evade tax! The tax law is there but who cares!?!?!?? As long there is a "short cut" to it, trust my fellow country men. However, there are companies that can not "help it" like the multinantionals, they dare not or else they will get their as***s burnt. One can actually get one's clearance anytime if one has been paying taxes but with the nornal Naija little stress though.

@ FLT123,

Taxes are no rocket science! Those that handle it are not super humans; it is only that they are priviledged to have the related info and in Nija getting info is stressful.


@ adconline,

Great! I must confess that I tripped when I saw nija gov links u posted. I have not been there though, I hope the desired info are there.

NAija is a Tax free country, Hurray