Information Technology Development Levy
The National Information Technology Development Agency (NITDA) Act, 2007 empowers FIRS to assess and collect the NITDA levy imposed under section 12 of the Act. A levy of 1% is charged on the profit before tax of companies and enterprises listed below with an annual turnover of N100 million and above.The levy when paid by the companies shall be deductable. The businesses are as follows:
· GSM service providers and all Telecommunication Companies.
· Cyber Companies and internet providers.
· Pension Managers and pension related companies.
· Banks and other financial Institutions and Insurance companies.