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Legal basis: calculations follow the Nigeria Tax Act 2025 and Tax Administration Act 2025. See the tax law library.
Withholding Tax is not a separate tax — it is an advance collection of income tax deducted by the person making a payment (the "withholder"), and remitted to the tax authority on behalf of the payee. The payee later claims it as a credit against their annual tax bill.
WHT deducted must be remitted to FIRS (for companies) or the relevant SIRS (for individuals) by the 21st of the month following the deduction, along with a schedule of payees.
Withholding tax on consultancy and professional fees is 10% when paid to a company and 5% when paid to an individual.
No. VAT (7.5%) is a consumption tax added to invoices. WHT is an advance income-tax deduction taken from the payment to the vendor and credited against their income tax.
The party making the payment (the customer/employer) is responsible for deducting WHT and remitting it to the tax authority.
The payee receives a WHT credit note and offsets it against their annual company or personal income tax liability. Any excess may be refunded or carried forward.
On or before the 21st day of the month following the month in which the deduction was made.
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