FIRS

Withholding Tax (WHT)

  • Withholding Tax (WHT) is a method used to collect Income Tax in advance
  • WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction
  • The due date for filing WHT returns is 21st day of every succeeding month
  • Penalty for late filing of returns is N25, 000 for the first month it occurs and N5, 000 for each subsequent month the failure continues

     Download WITHHOLDING-VAT-RETURNS-AND-GUIDES-FORM-006

     Download WITHHOLDING-TAX-RETURNS-AND-GUIDES-FORM-007