Businesses And Companies In Nigeria Cannot Pay Personal Income Tax

Businesses And Companies In Nigeria Cannot Pay Personal Income Tax. Daily Law Tips (Tip 411) by Onyekachi Umah, Esq., LLM. ACIArb(UK)

No business in Nigeria, including business names, companies, local or foreign businesses, are allowed to pay personal income tax in any part of Nigeria. Business Names are mere registered trading names, it is their owners, staff and workers that are expected to pay personal income tax in Nigeria on their incomes/profits in Nigeria whether they are resident in Nigeria or outside Nigeria.
On the other hand, companies are different from their owners and they pay company Income Tax to federal government while their workers, staff, directors and shareholders (owners) pay personal income tax to federal and state governments depending on their states of residency.

References:

1. Sections 18, 19, 37, 38, 573, 610 and 613 of the Companies and Allied Matters Act, 1990
2. My authorities are sections 1, 2, 3, 7, 108 and 109 of the Personal Income Tax Act 1993.

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Feel free to reach the author, ask questions or make inquiries on this topic or any other legal issues via onyekachi.umah@gmail.com or +2348037665878.

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Onyekachi Umah, Esq., LL.M, ACIArb(UK)

Onyekachi Umah is an exceptional Legal Practitioner, Arbitrator, Notary Public and Legal Awareness Expert with over a decade of experience in civil law, criminal law and human rights. He holds a Master of Laws; a Master of Business Administration (mini) and he is a doctoral candidate. Mr Umah is the Managing Partner of the law firm of Bezaleel Chambers International (BCI), where he consults and provides legal services to several national and international organisations, including the United Nations. Aside from his very engaging legal practice, Mr Umah runs a legal awareness organisation (Sabi Law Foundation) and he diligently publishes free daily law tips, every day on www.LearnNigerianLaws.com since 2017. He has published over 820 legal articles in diverse areas of law, delivered over 35 public lectures, anchored over 67 law radio/tv shows and supported several legal and developmental projects across Africa. Click to read more.

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