Scope/Companies covered

It is applicable on all relevant transactions except those exempted like imported goods; sales in the ordinary course of business; direct purchases from the manufacturers; exempted income; etc.

The rate is between 5% and 10% depending on the nature of transaction.

Withholding tax regulations and other provisions in CITA, PPTA and PITA.

1. WHT on technical, management and consultancy fees offered outside Nigeria shall be final.
2. WHT on construction contract is now 5%

21^st day following the month of transaction for transactions with Corporate entities and 30^th day of the following month for transaction involving individuals.

Penalties at 10% and interest at the prevailing Market ranging from 19% – 21%.

Kindly click the link below to download the Explanatory Note on WHT

About Us | Partners | Management | Investors Guide | Tax System | Policy | Terms & Conditions | Anti Money Laundering | Refund Policy | Know Your Customer | News | Sitemap | Career

SIAO is an independent Nigerian professional services firm, providing Audit & Assurance, Accounting, Tax, International Financial Reporting Standards Advisory, Human Resource, and Financial Advisory Services.

1st Floor, Bank of Industry Building Tower 1,
Central Business District Area, Abuja.

Tel: 02092912463,
Tel: 02092912462

18b Olu Holloway Road,
(Former Temple Road),
Off Kingsway Road,
Ikoyi,
Lagos.

Email: enquiries@siao-ng.com
Tel: +2347015180258