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?
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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?
Many people get confused about tax filing in Nigeria because they mix up personal income tax and company income tax Let me explain The First thing you must understand is that Personal income tax and company income tax are not the same If your business is a small business under your name like a soleRead more
Many people get confused about tax filing in Nigeria because they mix up personal income tax and company income tax
Let me explain
The First thing you must understand is that Personal income tax and company income tax are not the same
If your business is a small business under your name like a sole proprietorship or enterprise, then you will file personal income tax
If your business is registered as a limited liability company, then it will file company income tax
Now let me explain the timing in a way that even Mama Ngozi that sells Tomatoes in the Village will understand.
Imagine:
Mama Ngozi starts her tomato business in January 2026
From that day, she begins to record everything she sells and all her income
She cannot file tax immediately because she has not completed one full year of business
She will keep records from January to December 2026
After the year ends, she will now calculate everything she made
Then she will file her tax in 2027
That is how it works
Now here is the key difference many people don’t know
Personal income tax deadline is always March 31 every year
Company income tax is usually filed after the company has completed 12 months of operation
Let me tell you Another important truth
Even if you just started a business in 2026, if you had personal income in 2025, you are still expected to file your personal income tax for 2025 before March 31 2026
That is because tax is always based on the previous year
Another important thing is business commencement date
YES… When you register with FIRS, now Nigeria Revenue Service, they will ask for your business start date
That date is very important because that is when your tax record begins
From that date, you count 12 months of business operation before filing
In Simple English…
If it is personal income tax, file every year before March 31
If it is company income tax, file after one full year of business
Tax is not about when you register, it is about when you start earning and recording income
Once you understand this, you will never miss your tax deadline again and you will stay compliant without stress
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