Frequently Asked Questions
What taxes does TaxC calculate?
TaxC calculates your Personal Income Tax (PIT) based on Nigeria’s 2025/2026 Nigerian Tax Act (NTA) rules. This includes income from salary, self-employment, rental, investments, and other sources, factoring in allowable deductions like pension contributions and rent relief (up to ₦500,000).
Who needs to pay personal income tax in Nigeria?
According to the new Nigeria Tax Act (NTA) 2025, personal income tax is paid by any individual aged 18 years and above who is deemed a resident of Nigeria (e.g., typically determined by physical presence for 183 days or more within a 12-month period) and whose annual income exceeds the ₦800,000 exemption threshold.
How does TaxC handle deductions?
TaxC allows you to input deductions like pension contributions and annual rent paid. For salaried or self-employed individuals, rent relief is calculated as 20% of your rent, capped at ₦500,000. These deductions reduce your taxable income, lowering your tax liability. Other deductions may include life insurance, NHF, etc.
What is Withholding Tax (WHT), and how is it applied?
Withholding Tax (WHT) is a tax deducted at source on certain incomes, like rental income (10%), or investment income (10%). TaxC lets you input WHT paid, which are credited against your final tax liability to avoid double taxation.
Is my data safe with TaxC?
Yes, TaxC prioritizes your privacy. We don’t store sensitive payment information, payments are securely handled by Paystack. Your input data is used for personalization of your account, purchases, calculations and report generation, and we adhere to strict data protection standards.
What’s included in the ₦900 PDF report?
The PDF report includes a step-by-step breakdown of your tax calculation, deduction summary (pension, rent relief, etc), tax band details, and filing guidance tailored to your state’s IRS. It’s perfect for keeping records or sharing with a tax agent.
Calculate now to get your report!
How do I file my taxes after using TaxC?
TaxC provides an estimate to guide you. To file, submit your tax details to your State IRS, either online via their portal or in person. Our ₦900 report includes specific filing guidance for your state. You can also connect with a tax agent (coming soon) for personalized help.
Can TaxC help with company or corporate taxes?
Currently, TaxC focuses on Personal Income Tax for individuals. For corporate taxes, consult a tax professional or contact your State IRS. Our eBooks may offer additional resources for company owners.