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TAX & GOVERNMENT FINANCE

This section explains how taxation works in Nigeria. Learn how to file your taxes, understand FIRS, NRS and state tax systems, and stay compliant. Ask questions and get clear answers to avoid costly mistakes.

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Fokona Latest Questions

Danny
Danny
Asked: March 26, 2026In: TAX & GOVERNMENT FINANCE

What Should You Look for in a Company’s Financial Statements Before Investing?

When reading a company’s financial statement what should I look at in the statement, is it only the profit/loss,cash position,assets and debt level I should look at or the whole information in the financial statement, because some of them maybe ...Read more

analysiscompanyfinancial statementsstatement
1
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AlokaMaryNnenna
AlokaMaryNnenna
Asked: April 7, 2026In: TAX & GOVERNMENT FINANCE

Can I Still File My Annual Personal Income Tax in Anambra State, Nigeria?

Please can I still do the annual filing as an individual in Anambra state.

tax
1
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  • 1 1 Answer
Mama Ngozi
Mama Ngozi
Asked: May 26, 2026In: TAX & GOVERNMENT FINANCE

Does Pension Contribution Reduce Tax in Nigeria?

I recently heard that pension contributions can help reduce the amount of PAYE tax someone pays in Nigeria, but I don’t fully understand how that works. For example, if two employees earn the same salary, but one contributes more to pension, ...Read more

nigeria taxpaye nigeriapension contribution tax
1
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Melody pius
Melody pius
Asked: March 26, 2026In: TAX & GOVERNMENT FINANCE

What Is Annual Return, Do Individuals Without a Registered Business Need to File It, and What Are the Penalties for Not Filing in Nigeria?

Is it important for person without a registered business to file an annual return? What are the possible penalty for not filing?

taxation
1
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  • 1 1 Answer
Ese
Ese
Asked: March 31, 2026In: TAX & GOVERNMENT FINANCE

Do I Need to File Personal Income Tax in Nigeria If I Earned Less Than ₦300,000 in a Year?

I only worked for 4 months last year and the accumulated salary wasn’t even up to #300,000, do I still need to file my tax for 2025

low income tax nigeriapersonal income tax nigeriatax
1
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Raboni Dgreat
Raboni Dgreat
Asked: March 30, 2026In: TAX & GOVERNMENT FINANCE

What is the official link for filing personal income tax in Abuja (FCT, Nigeria)?

Pls can you share the link for personal income tax for Abuja.

personal income tax abuja
1
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Mene
Mene
Asked: April 3, 2026In: TAX & GOVERNMENT FINANCE

How Do I File Personal Income Tax (PIT) in Rivers State When I Have Salary and Business Income in Nigeria?

How do I file PIT tax if I’m getting a salary (tax already deducted) and also running a business?

business income tax nigeriapersonal income tax nigeria
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Anonymous
Anonymous
Asked: September 30, 2026In: TAX & GOVERNMENT FINANCE

How Do I Calculate Compound Interest on ₦2.5 Million at 16.77% Per Year?

With compounding interest, calculate the total interest of the capital of 2.5m where interest is 16.77% per anume. If I invest 2.5m naira. What’s gonna be my 12 months return of interest

16.77% interestcompound interest
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kolawole owolabi
kolawole owolabi
Asked: April 26, 2026In: TAX & GOVERNMENT FINANCE

Do companies in Nigeria pay 30% Company Income Tax on money market mutual fund investments through a corporate brokerage account?

Good evening Mr ferry please I have a question bothering me I will need your advice on this.. do I pay any other tax if I use my cooperate brokerage account to invest in money market mutual fund …I heard ...Read more

tax
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Raboni Dgreat
Raboni Dgreat
Asked: March 22, 2026In: TAX & GOVERNMENT FINANCE

When Is the Tax Filing Deadline for a New Taxpayer Who Registered in 2026?

For someone who has just registered for tax in 2026 and who started keeping his business records also in 2026. When is the deadline for filing his personal income tax, March 31st, 2026 or March 31st 2027?

chinedu okaforikingferrynew taxpayertax filing
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