Chargeable Income (NGN) Rates Tax on Band (NGN) Cumulative Chargeable Profit Cumulative Tax (NGN) First 300,000 7% 21,000 300,000 21,000 Next 300,000 11% 33,000 600,000 54,000 Next 500,000 15% 75,000 1,100,000 129,000 Next 500,000 19% 95,000 1,600,000 224,000 Next 1,600,000 21% 336,000 3,200,000 560,000 Over 3,200,000 24% RECOMMENDED LINKS: Tax Calculator | Payroll Guide
20% of gross income + (200,000 Naira or 1% of Gross Income, whichever is higher) Finance Act 2020 impacts on CRA reducing the resulting value where statutory deductions are involved. RECOMMENDED LINKS: Tax Calculator
Every employer with 15 or more employees. Employer to contribute minimum of 10% of the sum of Basic Salary, Housing Allowance, and Transport Allowance, while employee to contribute minimum of 8%. RECOMMENDED LINKS: Pension Calculator
Any employee earning basic salary of Three thousand Naira (NGN 3,000) or more is expected to contribute to the National Housing Fund. Employee contributes 5% of basic salary. RECOMMENDED LINKS: Salary Calculator
Every employer with 10 or more staff is expected to deduct National Health Insurance Scheme from staff emolument. Employer contributes 10% of basic salary while employee contributes 5% of basic salary. RECOMMENDED LINKS: Salary Calculator