The Levy is governed by National Information Technology Development Agency Act, CAP N156 LFN 2004 (as amended)
The Levy is charged at the rate of 1% of Profit before tax
The Levy is charged on specified companies with turnover of N100 million and above
Companies liable to pay the Levy are:
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
The due date for filing return and payment of the Levy is the same as in Companies Income Tax
Failure to pay the Levy at due date shall attract a penalty of ten per cent (10%) and interest at prevailing minimum rediscount rate of the CBN and if payment is not made within one month, enforcement shall take place.â