Investor Presentaiton

Nigeria's Tax Regime Contd. • The annual income tax rates are as follows; First N300,000: PAR 7% Next N300,000: PAR 11% Next N500,000: PAR 15% Next N500,000: PAR 19% Next N1,600,000: PAR 21% Above N3,200,000: PAR 24%. • Company income tax is generally levied at 30%, but reduced to 20% for small companies-turnover not exceeding N1m. Resident companies are also charged 2% tertiary education tax. Petroleum profit tax is charged between 50% and 85%- determined by NNPC. • VAT is 5% CGT is 10%

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