Nigeria Tax Reform Bill 2024 Calculator

Published: 16-November-2024

SEE ALSO: Ghana PAYE Calculator | Kenya PAYE Calculator | Loan Calculator | Income Tax Calculator | Salary Calculator
VIDEO: How to use tax calculator

To Calculate From _*

Monthly Gross Salary _*

₦

Pension _*

₦

Housing Fund (NHF) _*

₦

Health Insurance (NHIS) _*

₦

Other Deductions _*

₦

Basic Salary Percentage _*

Housing Allowance Percentage _*

Transport Allowance Percentage _*

Reimbursement Percentage _*

Rent Expense _*

₦

Red * indicates required input.

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Datamass Nigeria Limited

Payslip for JANUARY 2025

Felix ADEJIMI
PAY ITEMS	₦	₦
Basic Salary		50,000.00
Housing Allowance		25,000.00
Transport Allowance		25,000.00
Total Pay		100,000.00
Less:
Pension	8,000.00
PAYE Tax	3,800.00
Total Deductions		( 11,800.00 )
Net Pay		88,200.00

Eighty-Eight Thousand Two Hundred Naira Only [= NGN 88,200.00 ]
Chargeable Income (₦):	92,000.00
Employer Pension (₦):	10,000.00
Effective Tax Rate (%):	3.8000 %
Average Tax Rate (%):	4.1304 %

Nigeria Tax Reform Bill Calculator

This PAYE tax calculator calculate employment PAYE tax payable under the proposed Nigeria tax reform bills 2024 of President Bola Ahmed Tinubu.

PROPOSED NIGERIA TAX REFORM BILL RATES 2024
S/N	MONTHLY BAND (NGN)	ANNUAL BAND (NGN)	TAX RATE (%)
1	First 66,666.67	First 800,000	0%
2	Next 183,333.33	Next 2,200,000	15%
3	Next 750,000	Next 9,000,000	18%
4	Next 1,083,333.33	Next 13,000,000	21%
5	Next 2,083,333.33	Next 25,000,000	23%
7	Above 4,666,666.67	Above 50,000,000	25%
	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.
	CRA has been replaced with a conditional rent relief of 200,000 Naira or 20% of rent whichever is lower. A taxpayer is entitled up to 200,000 Naira tax relief in a year if there is a proof of paying the rent to his landlord.
	Read more on Nigeria Tax Reform Bills here PAYE - Tax Reform Bills
	Read more on Nigeria payroll here Statutory Notes