Tax payment process
Know how much tax you are required to pay
Make payment using appropriate revenue code at any of the collecting banks and collect teller and printout from the bank
Visit ASIRS with the banks printout and teller for Confirmation
Collect receipt from ASIRS.
Own Your Responsibility
Every employer of labor is regarded as an unpaid agent of the Tax authority for the purposes of PAYE and is expected
to deduct tax from her staff emoluments and remit same to the relevant tax authority on a monthly basis.
The Company self-service has features to enable employers carry out self-assessment of tax payable from the gross emoluments of
their employees and file their monthly returns.
The relevant tax authority in a state has the powers to collect tax from itinerant workers and every individual or corporation sole or body of individuals deemed to be resident for that year in that state.
There are several taxes mandated by law to be payable by individuals to the relevant tax authority in their place of residence in Nigeria and by companies doing business in Nigeria, which includes but are not limited to Personal Income tax, Stamp duties, capital gains tax, value added tax, withholding tax, industrial training fund tax, education tax among others.
Tax systems fall into three main categories: regressive, proportional, and progressive. Regressive taxes have a greater impact on low-income individuals than they do on high-income earners. A proportional tax, also referred to as a flat tax, impacts low-, middle-, and high-income earners relatively equally. Income tax in Nigeria is levied at a progressive rate.