CIT small-company checker Nigeria 2026
Shows the ₦50m and ₦100m turnover readings side by side. Professional services stay taxable.
Enter turnover, assets and profit. The result returns both public readings of s.56 rather than picking a favourite blog.
As of 1 Jan 2026
Small companies are at 0% CIT; other companies at 30% in the printed Act. Assets ₦250m is the usual second test. Professional services are excluded. Development levy is 4% except for small and non-resident companies in the pack we ship.
Printed Act definition (₦100m turnover, ₦250m assets)
0%
₦0
Post-publication update reported by KPMG (₦50m turnover, ₦250m assets)
0%
₦0
Section 56 taxes a “small company” at 0% and any other company at 30%. The interpretation section of the printed Act defines small company as turnover of ₦100m or less and fixed assets not exceeding ₦250m. KPMG’s July 2025 note records that this turnover test was changed to ₦50m before passage. Professional-services firms are widely treated as ineligible. This checker returns both classifications and does not choose. A named reviewer must apply the gazetted text.
- Nigeria Tax Act 2025, Fourth Schedule (section 58) — individuals’ income tax rates 2026-09-02
- Nigeria Tax Act 2025, section 30 — ascertainment of chargeable income; eligible deductions including rent relief 2026-09-02
- Nigeria Tax Act 2025, section 31 — deductions must be claimed in writing 2026-09-02
- Pension Reform Act 2014 — employee contribution of 8% of pensionable emoluments 2026-09-02
- Nigeria Tax Act 2025, section 147 — VAT charged at 7.5% 2026-09-02
- Nigeria Tax Act 2025, section 152 — VAT invoice contents 2026-09-02
- Nigeria Tax Administration Act 2025, section 22 — small-business VAT filing relief (₦100m turnover test as published) 2026-09-02
- Nigeria Tax Act 2025, section 56 — small company at 0%; any other company at 30% 2026-09-02
- Nigeria Tax Act 2025, section 59 — development levy of 4% other than small companies and non-resident companies 2026-09-02
- Nigeria Tax Act 2025, interpretation — printed “small company” definition (₦100m turnover / ₦250m assets) 2026-09-02
- KPMG, Updates to the Nigeria Tax Act (July 2025) — records a change of the small-company turnover test from ₦100m to ₦50m 2026-09-02
- Nigeria Tax Act 2025 — withholding tax framework consolidated from CITA/PITA (rates themselves were not rewritten as a new schedule in the printed Act’s Fourth Schedule) 2026-09-02
- Published NTA 2025 practitioner summaries of WHT rates and the resident small-company monthly-threshold / TIN exemption 2026-09-02
Sources
- Nigeria Tax Act 2025 2 Sept 2026
Read the guide
- CIT small-company guide
Why we show ₦50m and ₦100m.