FIRS tax compliance checklist for Nigerian businesses in 2026

Nigerian companies pay CIT on their assessable profits. Standard rate is 30% for large companies, 20% for medium companies (turnover ₦25m–₦100m), and 0% for small companies (turnover under ₦25m). Deadline: File and pay within 6 months of your accounting year end. If your financial year ends December 31, your CIT is due by June 30.

Every employer must deduct PAYE from employees and remit to the relevant State Internal Revenue Service (not FIRS — PAYE goes to your state IRS). Deadline: 10th of the following month. Late payment attracts a 10% penalty plus interest.

VAT is 7.5% on taxable supplies. File monthly VAT returns and remit collected VAT to FIRS by the 21st of the following month. Since the Finance Act 2019, businesses earning over ₦25m annually must register for VAT.

Both employee (8% minimum) and employer (10% minimum) pension contributions must be remitted to the employee's chosen PFA within 7 working days of paying salaries. Late remittance attracts penalties of 2% per month.

WHT must be deducted when paying for specified services (rent, professional fees, contracts, dividends). Rate varies by transaction type: 5–10% for companies, 5–10% for individuals. Remit to FIRS within 30 days of deduction.

Every registered company must file annual returns with the Corporate Affairs Commission (CAC) within 42 days of the Annual General Meeting. Failure results in penalties and potential striking off.

ElorPra calculates PAYE, pension, and VAT automatically. The AI Tax Advisor can answer specific compliance questions about your business. Financial reports give you the exact figures your accountant needs for CIT filing.