Tertiary Education Tax (EDT)


  • It is now governed by Tertiary Education Trust Fund (Establishment, Etc.) Act 2011 Imposed on all companies registered in Nigeria
  • The rate of the tax is 2% of assessable profit
  • The due date for filing returns is the same as that of CIT and PPT
  • The tax is an allowable deduction in computing the assessable profits of companies engaged in petroleum operations(Upstream)
  • Funds derived from the tax are used for rehabilitation, restoration and consolidation of tertiary education in Nigeria by the Tertiary Education Trust Fund (TETFUND)
  • The amount in the Fund is distributed between Universities, Polytechnics and Colleges of Education in the ratio 2:1:1 respectively
  • First offence against the Act is liable on conviction to a fine of N1, 000,000 or a term of 6 months imprisonment or both. Second and subsequent offences attract a fine of N2, 000,000 or a term of 12 months or both.