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It is a tax levied on all incomes of an individual in employment or business. All employers of labour are expected to deduct taxes from their employees and remit same to the tax authority on a monthly basis, while persons in business are expected to file their annual returns and pay accordingly.
Any person who earns income in the form of salary, wage, fee, allowance or other gains or profit from employment including compensations, bonuses, premiums, benefits or other perquisites allowed, given or granted by any person to any temporary or permanent employee other than so much of any sums as or expenses incurred by him in the performance of his duties, and from which it is not intended that the employee should make any profit or gain.
Yes. The Personal Income Tax (Amendment) Act, 2011 combined with the provisions of S.3 (1)(b) and S.3(1)(b)(i) particularly defining the taxpaying employee as either a temporary or permanent employee.
According to the new Personal Income Tax (Amendment) Act 2011, CRA is the Consolidated Relief Allowance, which combines all previous reliefs (Housing, Meal, Utility, Transport, leave allowances, etc) consolidated into a single relief of N200, 000 subject to a minimum of 1% of gross income (whichever is higher) plus 20% of the gross income.
It is a tax imposed on goods and services consumed in hotels, bars, restaurants and event centres within Imo State. This tax is payable by the consumers who purchase these goods and services. The hotels, bars, restaurants and event centres serve as collecting agents for Imo State Internal Revenue Service.
It is the specified amount deducted at source from payment accruing or made to individuals or corporate entities in respect of income receivable for service(s) rendered or from investment and remittance of same to the Relevant Tax Authority in line with the provisions of Personal Income Tax (PITA) and Companies Income Tax Acts (CITA).
In addition to the Consolidated Reliefs and Allowances (CRA) the following items in the Sixth Schedule table are still tax exempt;
  1. National Housing Fund Contribution
  2. National Health Insurance Scheme
  3. Life Assurance Premium
  4. National Pension Scheme
  5. Gratuities
After the relief allowance and exemptions have been granted, the balance of income shall be taxed as specified in the following Sixth Schedule Table.
  1. First N300,000 @7%
  2. Next N300,000 @ 11%
  3. Next N500,000 @ 15%
  4. Next N500,000 @19%
  5. Next N1,600,000 @ 21%
  6. Above N3, 200,000 @ 24%.
PAYE and Direct Assessment are two ways of assessing individuals to tax. PAYE is for individuals under paid employment and Direct Assessment is for Self Employed individuals.
The person owning, managing or controlling any business or supplying any goods or services chargeable under the Law shall collect this for and on behalf of the State, the tax imposed by the Law based on the Amount charged or Payable by the Customer accordance with the provisions of this Law?
It is the ‘do it yourself, easier and more convenient approach recently introduced by IIRS which enable a new taxpayer to assess him/herself, make payment through any of the designated banks?
  1. Login to https://selfportal.imostate.tax
  2. Sign up with your email or phone number
  3. Fill the form and submit
  4. Verify your account with the code sent to your email or phone number you provided
  5. Fill in other details and make proceed to Biometric facial capture
  6. Your taxpayer id would be created and sent to you via e-mail and smss
What is Personal Income Tax?

It is a tax levied on all incomes of an individual in employment or business. All employers of labour are expected to deduct taxes from their employees and remit same to the tax authority on a monthly basis, while persons in business are expected to file their annual returns and pay accordingly.

Who should pay personal Income Tax?

Any person who earns income in the form of salary, wage, fee, allowance or other gains or profit from employment including compensations, bonuses, premiums, benefits or other perquisites allowed, given or granted by any person to any temporary or permanent employee other than so much of any sums as or expenses incurred by him in the performance of his duties, and from which it is not intended that the employee should make any profit or gain.

Are Temporary or Casual Workers meant to pay tax?

Yes. The Personal Income Tax (Amendment) Act, 2011 combined with the provisions of S.3 (1)(b) and S.3(1)(b)(i) particularly defining the taxpaying employee as either a temporary or permanent employee.