Nigeria Small Business Tax & Compliance Planner

Company Profile & Financials

Live Browser Calculation

Business Name

Primary Sector

Annual Turnover (Gross Revenue) Under ₦100M (0% CIT)

₦

₦0 ₦100M FIRS Exemption Cutoff ₦150M+

Monthly Total Payroll (₦)

₦

Computes State Board of Internal Revenue PAYE remittance.

VAT Collection (7.5%)

Standard 7.5% Active

Collected from end consumer and remitted monthly.

Bootstrap Setup & Capital Allocation

Source Model

Based on the documented micro-retail model (e.g. phone accessories from Computer Village / Alaba starting with ₦160,000 capital).

Total Capital

₦160,000

Shop / Stand Lease

₦60,000

Inventory Turnover

₦100,000

Adjust Initial Capital ₦160,000

"You can turnover the ₦100k inventory within 3 months and expand this business with the profit you are making at high traffic bus stops."

GPCAT Risk & Feasibility Radar

Source: "Why running a small business in Nigeria is hard (GPCAT)"

Moderate Risk (48/100)

G — Government Policy & Multiple Levies Moderate

FX policy changes, import duties, and LG council market permits.

C — Market Competition & Price Pressure High

Price wars at wholesale markets (Alaba/Computer Village) and Jumia margin squeeze.

A — Age, Experience & Founder Stamina Low

Energy demands of physical sourcing, logistics navigation, and shop management.

T — Technology & Disruption Moderate

E-commerce adoption, digital POS reconciliation, and automated invoicing.

Official Computation

Tax Liability Summary

0% CIT Rate

Total Estimated Compliance Remittances

₦4,671,000

Exempt from Income Tax, subject to VAT & PAYE remittance

Company Income Tax (CIT) Federal / FIRS

Annual Corporate Tax on Profit

₦0

0% Rate (≤ ₦100M)

Value Added Tax (VAT) FIRS Remittance

7.5% on taxable sales

₦3,375,000

₦281,250 / month

PAYE (Payroll Tax) State (SBIR)

Staff personal income deduction

₦1,296,000

₦108,000 / month

Turnover Status

Small Company Exemption (Under ₦100M turnover qualifies for 0% CIT, filing obligations still apply)

Mandatory Filing Obligations Three Tiers of Gov

FIRS Annual Returns: Audited/self-assessment returns due within 6 months of financial year end.
Monthly VAT Remittance: Due by the 21st day of the succeeding month to FIRS.
State Board PAYE: Monthly staff tax remitted by the 10th of every month.
Local Gov Rates & Levies: Council business premises registration & signage permits.