Education Tax (EDT)
EDUCATION TAX (EDT)
- Introduction
Scope/Companies covered
All registered Companies in Nigeria.
Rate of Tax
The rate of the tax is 2% of assessable profit
Enabling laws
Tertiary Education Trust Fund (Establishment, Etc) Act 2011
Recent Amendments
Nil
- Filing obligations
This aligns with the annual returns filing period for Corporate entities.
- Associated Penalties
- Non-filing of returns
5% of the tax plus principal tax amount
- Non-payment of taxes
Penalties at 10% and interest at the prevailing Market rate
Kindly click the link below to download the Education Tax Law
SIAO EDUCATION TAX CALCULATOR
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