Education Tax
NGN 20,000.0
20 days
Tax Returns
Description
Information about the compliance service
Education Tax (EDT) in Nigeria is a tax imposed on companies and individuals to fund education development.
Taxable Entities:
Taxable Entities:
- Companies (including NGOs and cooperative societies).
- Individuals (Self-employed and employed).
Tax Rates:
- Companies: 2% of assessable profit
- Individuals:
N100,000 (minimum tax) for income below N1 million
N200,000 (minimum tax) for income between N1 million - N5 million
N500,000 (minimum tax) for income above N5 million.
N500,000 (minimum tax) for income above N5 million.
Requirements
Info and documents needed for this service
- Tax Identification Number (TIN).
- Company's financial statements.
- Payroll records.
- EDT computation sheet.
- Tax payments made.
Process
Steps involved in this compliance service
- Provide the necessary documents.
FAQs
Frequently asked questions about this service
1. Can i claim relief on EDT?
Yes, for charitable donations to educational institutions.
2. Can i appeal EDT assessment?
Yes, through the FIRS dispute resolution process.