Tax Collection has been classified below under the 3 main tax collection bodies:

TAXES COLLECTED BY LAGOS STATE INTERNAL REVENUE SERVICE

TAXES/LEVIES

RATES

LEGAL INSTRUMENT

REMARKS


PERSONAL INCOME TAX: PAYE DIRECT/ASSESSMENT

Graduating rates as given in the 6th Schedule of the Personal Income Tax (Amendment) Act 2011

Personal Income Tax Act 2004 L.F.N.

Personal Income Tax (Amendment) Act 2011

Lagos State Revenue Administration Law

Personal Income Tax is collected from income earning adults i.e. Resident within the State


WITHHOLDING TAX:


INTEREST


RENT


ROYALTY


DIRECTORS FEES


DIVIDEND


TECHNICAL SERVICES


CONTRACT


BUILDING CONSTRUCTION


CONSULTANCY/PROFESSIONAL FEES



COMMISSION



10%


10%


5%


10%


10%


5%


5%


2.5%



5%



5%


Personal Income Tax Act 2004 L.F.N.


Applicable to Individuals, Sole Proprietorship and Partnership


CAPITAL GAINS TAX


10%

Capital Gains Tax Act CAP. 42 L.F.N 1990 Act CAP. C1 L.F.N. 2004


Individuals only

STAMP DUTIES

Flat Rate

Stamp Duties Act Cap.42 L.F.N. 1990

Individuals and Corporate Entities


BUSINESS PREMISES REGISTRATION FEE IN RESPECT OF:


URBAN AREAS

Registration = N 10,000 Annual Renewal = N5,000

Personal Income Tax Act 2004 L.F.N.



Act 21 of 1998



Corporate Entities


RURAL AREAS

Registration = N 2,000 Annual Renewal = N1,000


TAX ON GOODS & SERVICES CONSUMED IN HOTELS , RESTAURANTS AND EVENTS CENTRES


5% of total bill issued to the consumer, excluding value added tax.


Hotel Occupancy and Restaurant Consumption Law 2009.


This tax is not applicable where the Sales Tax is collected

TAXES AND LEVIES TO BE COLLECTED BY LOCAL GOVERNMENT
  1. Shops and Kiosks rates
  2. Tenement rates
  3. On and Off Liquor License fees
  4. Slaughter slab fees
  5. Marriage, birth and death registration fees
  6. Naming of street registration fees, excluding any street in the State Capital
  7. Right of Occupancy fees on lands in the rural areas, excluding those collectible by the Federal  and State Governments.
  8. Markets taxes and levies excluding any market where State finance is involved
  9. Motor park levies
  10. Domestic animal license fees
  11. Bicycle, truck canoe wheelbarrow and cart fees, other than a mechanically propelled              truck
  12. Cattle tax payable by cattle farmers only
  13. Merriment and road closure
  14. Radio and television license fees (other than radio and television transmitter)
  15. Vehicle radio license
  16. Wrong parking charges
  17. Public convenience, sewage and refuse disposal fees.
  18. Customary burial grounds permit fees
  19. Religious places establishment permit fees.
  20. Signboard and Advertisement permit fees.
TAXES COLLECTED BY FEDERAL GOVERNMENT
S/N TAXES RATES
1 COMPANY INCOME TAX 30% OF ASSESSABLE PROFIT
2 WITHHOLDING TAX ON COMPANIES 10%
3 PETROLEUM PROFIT TAX VARIES
4 VALUE ADDED TAX 5%
5 EDUCATION TAX 2% OF ASSESSABLE PROFIT
6 CAPITAL GAINS TAX ON THE RESIDENCE OF THE FEDERAL CAPITAL TERRITORY, CORPORATE BODIES AND NON-RESIDENT INDIVIDUALS 10% OF GAINS
7 STAMP DUTIES ON BODIES CORPORATE AND RESIDENTS OF THE FEDERAL CAPITAL TERRITORY FLAT RATE AND AD VALOREM
8 PERSONAL INCOME TAX GRADUATING RATES AS PRESCRIBED BY PITA (AMENDMENT) ACT 2011 ON: MEMBERS OF THE ARMED FORCES OF THE FEDERATION, MEMBERS OF THE NIGERIAN POLICE FORCE; RESIDENTS OF THE FEDERAL CAPITAL TERRITORY, STAFF OF THE MINISTRY OF FOREIGN AFFAIRS AND NON-RESIDENT INDIVIDUALS

 

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