Company Income Tax & Development Levy
Company Income Tax & Development Levy
Calculate CIT and Development Levy for Nigerian companies
Tax Rates by Company Size
- • Small: 0% (Turnover ≤ ₦25 million)
- • Medium: 20% (Turnover ₦25m – ₦100m)
- • Large: 30% (Turnover > ₦100 million)
- • Development Levy: 4% of Assessable Profit (all sizes)
Company Classification
Enter turnover to determine size
Total revenue before deductions
Direct costs of producing goods/services
Administrative and operational expenses
Depreciation on qualifying assets
Interest, donations, losses carried forward, etc.
Company Size
–
Assessable Profit
₦0.00
Total Tax
₦0.00
Net After Tax
₦0.00
Detailed Tax Computation
Gross Turnover
₦0.00
Less: Cost of Sales
₦0.00
Gross Profit
₦0.00
Less: Operating Expenses
₦0.00
Less: Capital Allowances
₦0.00
Less: Other Deductions
₦0.00
Assessable Profit
₦0.00
CIT Rate
0%
Company Income Tax
₦0.00
Development Levy (4%)
₦0.00
Total Tax Liability
₦0.00
Simple Guide to the CIT & Development Levy Calculator
This calculator helps Nigerian companies determine their Company Income Tax (CIT) and Development Levy obligations. The tax rates are based on the company's annual gross turnover.
1. Select Your Currency
- Action: Click one of the four currency buttons: ₦ NGN (Nigerian Naira), $ USD, £ GBP, or € EUR.
- Purpose: This sets the currency symbol for all your input fields and results, though the calculation thresholds remain based on the NGN equivalent of ₦25 million and ₦100 million.
2. Input Your Financial Data
Enter the required figures into the input fields in the currency you selected.
- Gross Turnover: Enter your Total Revenue for the period. The calculator uses this figure instantly to determine your company size and applicable CIT rate (Small, Medium, or Large).
- Cost of Sales: Enter the direct costs of producing your goods or services.
- Operating Expenses: Enter all administrative and operational costs.
- Capital Allowances: Enter the allowable depreciation on qualifying fixed assets.
- Other Deductions: Enter any other allowable deductions (e.g., interest expense, donations).
3. Check Company Classification
- Review: As you enter your Gross Turnover, the Company Classification indicator automatically updates.
- Rates Defined:
- Small Company: Turnover < ₦25 million (CIT Rate: 0%)
- Medium Company: Turnover > ₦25 million to < million (CIT Rate: 20%)
- Large Company: Turnover > ₦100 million (CIT Rate: 30%)
4. Calculate the Tax Liability
- Action: Click the "Calculate CIT & Development Levy" button.
- Output: The Results Section appears, showing a summary and a detailed breakdown of your tax computation.