nigeria personal Income Tax
Nigerian personal Income tax rates since 2002
Personal income tax rates in Nigeria are charged progressively up to 25%.
Tax Table (Income) Tax Rate
First N30,000 5%
Next N30,000 10%
Next N50,000 15%
Next N50,000 20%
Over N160,000 25%
Rent Allowance: Maximum of N150,000 per annum.
Transport Allowance: Maximum of N20,000 per annum.
Utility Allowance: Maximum of N10,000 per annum.
Meal Allowance: Maximum of N5,000 per annum.
Entertainment Allowance: Maximum of N6,000 per annum.
Leave Allowance: 10% of Basic Salary per annum.
* Disability Allowance: 10% of Earned Income or N3,000 - whichever is lower.
Personal Allowance: 20% of Earned Income + N5,000.
Children Allowance: N2,500 per child for maximum of 4 Children.
Dependant Relative Allowance: N2,000 per Dependant.
Pension contribution: 100% of sums paid.
* Life Assurance: 100% of sum paid (Evidence to be submitted before this relief can be granted).
* Interest on Loan in respect of Owner Occupier premises: 100% - Subject to approval of the Board (FIRS).
Proposed personal income tax rates and tax brackets being considered to be passed into law:
Taxable Income Tax Rate
First N300,000 7%
N300,001 - N600,000 17%
N600,001 - N1,110,000 15%
N1,100,001 - N1,600,000 19%
N1,600,000 - N3,200,000 21%
Above N3,200,000 24%