Petroleum Profits Tax (PPT)

For companies engaged in upstream petroleum operations (exploration, production).

• Rates:
  • 50% for Production Sharing Contracts (PSC).
  • 65.75% for Joint Ventures (1st 5 years).
  • 85% for Joint Ventures (> 5 years).
• Incentives: Various investment tax credits and allowances apply.

National Information Technology Development Agency (NITDA) Levy

• Rate: 1% of Profit Before Tax (PBT).
• Liable Companies:
  • GSM Service Providers / Telcos.
  • Cyber Companies / Internet Providers.
  • Pension Managers.
  • Banks & Financial Institutions.
  • Insurance Companies.
• Threshold: Companies with Turnover of ₦100 Million and above.
• Deductibility: The levy is tax-deductible for CIT purposes.