Personal Income Tax
NGN 50,000.0
10 days
Tax Returns
Description
Information about the compliance service
Personal income is the total earnings or revenue received by an individual from various sources during a given period, typically a financial year. It encompasses all the money an individual earns from different activities and sources, both employment-related and non-employment-related.
Requirements
Info and documents needed for this service
To file your personal income tax returns, it is required that you have the following documents
- Tax identification number (TIN) or registration number.
- Completed tax return forms (manual or electronic).
- Evidence of income, such as payslips, bank statements, or financial records.
- Supporting documents for any deductions or tax reliefs you wish to claim (e.g., receipts for donations, insurance premiums, etc.).
- Tax deduction cards from employers.
- Identification documents (e.g., passport, driver's license, NIN slip).
- Proof of address.
- Payment.
Process
Steps involved in this compliance service
- Determine Tax Status ( resident or non resident/ Employee or self employed).
- File and submit the online form (Form A or Form B).
FAQs
Frequently asked questions about this service
1. Who is required to pay PIT?
Resident and non-resident individuals with taxable income.
2. What is the tax year?
January 1st to December 31st.
3. What is the filing deadline?
March 31st for employees, June 30th for self employed individuals.
4. What is the personal income tax rate?
It is between 7%-24% of income depending on the income level.
4. What is the personal income tax rate?
It is between 7%-24% of income depending on the income level.