Company Income TaxCalculator
Check if your company qualifies for the Small Company Exemption under the 2026 tax reform.
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Net profit after accounting and tax adjustments
CIT Calculation Results
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Fill in the form to check exemption eligibility and calculate CIT
Small Company Exemption Criteria
- Annual turnover must be ₦100 million or less
- Total fixed assets must be ₦250 million or less
- Must NOT be a professional service company
Excluded Professional Services
Frequently Asked Questions
Nigeria has tiered CIT rates based on company size: Small Companies (turnover < ₦25 million) pay 0% tax, Medium Companies (₦25-100 million turnover) pay 20%, and Large Companies (> ₦100 million turnover) pay 30% on taxable profits.
Small Company Exemption allows Nigerian companies with annual turnover below ₦100 million and total assets below ₦250 million to pay 0% company income tax. This is designed to support small businesses and startups. Professional service companies are excluded.
CIT is calculated as: Taxable Profit × Applicable Rate. First determine company size by turnover and assets, then apply the rate (0%, 20%, or 30%) to assessable profit. Minimum tax of 0.5% of turnover may apply if higher than computed tax.
Companies with turnover above ₦25 million are subject to minimum tax of 0.5% of gross turnover. This applies if the calculated CIT is lower than the minimum tax amount, ensuring all medium and large companies contribute.
Professional service companies are excluded from the Small Company Exemption, regardless of turnover. This includes legal firms, accounting practices, medical services, engineering consultancies, IT services, and other professional advisory services.
Nigerian companies must file CIT returns within 6 months after their accounting year end. New companies have 18 months from incorporation for their first return. Late filing attracts penalties of ₦25,000 for the first month and ₦5,000 for each subsequent month.