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Company Income Tax (CIT)
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Can business expenses be claimed against company income tax?
Yes, business expenses can be claimed against your Company Income Tax (CIT) in 2026, but only if they meet specific legal criteria. Under the Nigeria Tax Act 2025, the government has tightened the rules on what qualifies to ensure businesses don't "inflate" costs to avoid tax.
When is company income tax due for payment, and what is the penalty for late filing?
In 2026, the Nigeria Tax Administration Act 2025 (NTAA) has sharpened the timeline for filing and payment to ensure faster revenue collection. While the "due date" remains linked to your accounting year-end, the financial consequences of missing it have become much more severe.
What is the current company income tax rate in Nigeria?
In 2026, the Nigeria Tax Act 2025 has streamlined the Company Income Tax (CIT) landscape. The major change is the simplification of company categories and the introduction of a new "Development Levy."