Education Tax (EDT)

Education Tax (EDT)
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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

EDT Law

SIAO EDUCATION TAX CALCULATOR

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Education Tax: =N=

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