Corporate Income Tax is a tax that is charged on profits generated by the company and other corporate bodies in a given year of assessment. It is a direct tax administered under the Income Tax Act of 1993 (as amended).
Provisional Tax
This is tax paid ahead of the financial year end, usually in three (quarterly) installments. This helps ease the burden of paying the taxes due as a lump sum at the end of the financial year, with the client adding a little more to his payment if he had been under assessed and where the taxpayer had been over assessed, a refund will be made.
Advanced Corporation Tax (ACT):
This is a tax arising as consequence of distributions of dividends by a company and is not imposed on the company but on shareholders receiving such dividends.
Corporate Income Tax (CIT) and Personal Income Tax (PIT): the tax is collected quarterly while the assessment thereof is performed annually. Find the guide on the attachments below
| Attachment | Size |
|---|---|
| INCOME TAX REGULATIONS NO.17 OF 2020.pdf | 24.37 KB |
| Income Tax Act 1993 Updated up to 1 April 2012.pdf | 663.4 KB |
| Taxation of Foreign Nationals.pdf | 809.81 KB |
| Tax Guide on Fringe Benefit Tax (1).pdf | 545.22 KB |
| Electronic Certificate (e-TCC) Guidelines.pdf | 492.81 KB |
| Tax Guide on Fringe Benefit Tax (1).pdf | 545.22 KB |
| Tax Guide on employment Income 23-.pdf | 146.91 KB |
| Tax Guide on Provisional Tax (1).pdf | 528.64 KB |
| Tax Guide on Registration for VAT Purposes-VAT 101 (1).pdf | 511.24 KB |
| Guide on Tobacco & Alcoholic Products Levy-.pdf | 530.27 KB |
| TAX TREATMENT OF TERMINAL BENEFITS GUIDE.pdf | 515.79 KB |