Post by MS INYOFU (@theconscience)

HINT – Payroll Example (Without Rent Relief)

Example assumes no Pension (8%), NHF (2.5%), or NHIS (5%) deductions.

Monthly salary: N100,000
Annual income: N1,200,000

No rent relief.

Taxable income = N1,200,000

Tax:
First N800,000 - 0%
Next N400,000 × 15% = N60,000

Monthly PAYE = N5,000

Question: Has your payroll been updated for the new tax law?

HINT – Payroll Example (Without Rent Relief) Example assumes no Pension (8%), NHF (2.5%), or NHIS (...

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