- October 14, 2022
- Posted by: Eughulu
- Category: Taxation
No Comments
- 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
Source: firs.gov.ng
Do not hesitate to contact us for Federal or State related tax enquiries.