NIGERIA
Capital:
FCT - Abuja
Currency:
Naira (NGN - ₦)
Time Zone:
UTC+1
Coat of Arms:
Unity & Faith, Peace & Progress

Nigeria Employment Income Tax Calculator | Nigeria PAYE Calculator 2024

Last Reviewed: 12-August-2024
SEE ALSO:  Ghana PAYE Calculator  |  Kenya PAYE Calculator  |  Loan Calculator  
VIDEO:    How to use tax calculator
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Datamass Nigeria Limited
Payslip for SEPTEMBER 2024
Felix ADEJIMI
PAY ITEMS ₦ ₦
Basic Salary 89,832.00
Housing Allowance 44,916.00
Transport Allowance 44,916.00
Total Pay 179,664.00
Less:
Pension 14,373.12
PAYE Tax 15,290.88
Total Deductions                   ( 29,664.00 )
Take-Home Pay 150,000.00
                     
One Hundred and Fifty Thousand Naira Only [= NGN 150,000.00 ]
Chargeable Income (₦): 115,566.04
Effective Tax Rate (%): 8.5108 %
Average Tax Rate (%): 13.2313 %

Nigeria PAYE Tax Calculator

Nigeria PAYE tax is tax amount deducted from salaries of employees by employers on behalf of the government. The tax amount deducted is remited to the relevant tax Authority, SIRS or FIRS (SIRS) before or on 10th day of the following month. Tax is charged on all income be it cash or kind. The higher the earnings the higher the tax amount deducted. Hence it is termed PAYE - Paye As You Earned.

2024 NIGERIA PAYE TAX RATES
S/N MONTHLY BAND (NGN) ANNUAL BAND (NGN) TAX RATE (%)
1 First 25,000 First 300,000 7%
2 Next 25,000 Next 300,000 11%
3 Next 41,666.67 Next 500,000 15%
4 Next 41,666.67 Next 500,000 19%
5 Next 133,333.33 Next 1,600,000 21%
7 Above 266,666.67 Above 3,200,000 24%
NHIS is 5% and 10% of basic salary contributed by employee and employer respectively;
For employer with 10 or more employees.
NHF 2.5% of gross salary contributed by employee. Optional for private sector.
Pension is 8% and 10% of basic salary, housing allowance and transport allowance, contributed by employee and employer respectively.
5% WHT deduction from casual worker's payment.
Read more on Nigeria payroll here Statutory Notes