This is tax calculator
. It's a free SME toolkit utility. It calculates income tax called Pay As You Earned
tax amount (PAYE
) that is deductible from staff salary according to the requirements of Nigeria personal income tax Act of 2011 (PITA 2011).
It helps employer with filing tax return to revenue agency while it provides means for employees to verify PAYE
tax deducted from their paycheck.
Finance Act 2020
becomes effective from January 1st, 2021. This new Act exempts national minimum wage earners from paying the mandatory minimum tax.
As of January 1st, 2021, thirty thousand Naira (30,000 NGN) is the monthly minimum wage in Nigeria. Consequently, PAYE tax is zero
for all those who earn 30,000 Naira monthly (or less).
We wish to announce that SME Payroll is fully compliant with the Finance Act 2020.
UPDATE - 06-FEB-2021
Our SME Payroll engine has been updated to align with the recent adjustments signed into law in the Finance Act 2020 of the Federal Republic of Nigeria.
Why not contact us today for SME Payroll HR Software? You would be impressed for what it offers.
You can reach out to us via our contact page