“
Running a company in Nigeria in 2026 requires a high degree of digital discipline. The Nigeria Revenue Service (NRS) has moved away from manual follow-ups, opting instead for automated system flags that trigger penalties the moment a deadline is missed. To protect your business, use this comprehensive checklist.
The ‘Big Three’ Corporate Obligations
- Company Income Tax (CIT): Even if you are a ‘Small Company’ (turnover ≤ ₦100 million) paying 0%, you must still file your annual returns. For larger firms, the rate is 30%. Read our Ultimate Guide to CIT for more.
- Development Levy: Replacing the old Tertiary Education Tax, this is a flat 4% on assessable profits for all except small companies.
- VAT Remittance: Monthly filing via TaxPro Max by the 21st. If your turnover is under ₦50 million, you are now exempt from charging VAT. See the VAT Exemptions Guide for details.
Your Compliance Timeline
- Monthly (By the 21st): Remit VAT and Withholding Tax (WHT).
- Annually (Within 6 Months of Year-End): File CIT returns and the new consolidated Development Levy.
- Annually (By May 31st): File for your Tax Clearance Certificate (TCC).
For more on the differences between these, see CIT vs. PIT: What is the Difference?.
The Penalty Trap
In 2026, the cost of forgetting has doubled. Late filing of CIT now attracts a ₦100,000 fine for the first month and ₦50,000 for every month after. Check our guide on Tax Penalties in Nigeria to understand the full risks. For official resources, the NRS (formerly FIRS) website and PwC Nigeria provide excellent compliance templates.
“