Nigeria Tax Act, 2025 · NTA s.56
Company income tax — 0% for a small company, 30% otherwise
A small company pays nothing; every other company pays 30% of total profits.
Who this lands on: Every limited company. Sole traders and partnerships are taxed as individuals.
Tax is charged on the total profits of a company at 30%, except for a small company, which is charged at 0% (NTA s.56).
A company is small only if it passes both limbs: gross turnover of ₦100,000,000 or less in the year, and total fixed assets of ₦250,000,000 or less.
Failing either limb takes the whole profit into charge at the full rate, so the asset figure matters as much as the turnover figure.
A small company still files. The relief is on the tax, not on the return.