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Compliance is a continuous process, not a one-time event. As we move through 2026, the penalties for late filing have increased, and the FIRS has become more automated. This checklist serves as your roadmap to staying ‘Tax Healthy’.
The Monthly Compliance Routine
Every month, your finance team or accountant should check off the following:
- VAT Remittance: Must be done by the 21st of every month.
- WHT Remittance: Must be done within 30 days of the transaction.
- PAYE (Pay As You Earn): Must be remitted to the State Internal Revenue Service (SIRS) by the 10th of the following month.
Failure to meet these deadlines often leads to tax penalties in Nigeria that can cripple a growing business.
The Annual Compliance Cycle
Once a year, companies must perform deeper filings:
- Company Income Tax (CIT): File returns within six months of your year-end.
- Education Tax: Currently at 3% of assessable profit.
- Annual Returns with CAC: While not a ‘tax’, it is a vital compliance step for your tax clearance.
If you are confused about the different tiers of tax, our article on Federal, State and Local Taxes in Nigeria Explained will clear the air. Also, for detailed SME help, see the Complete Nigeria Business Tax Guide for SMEs and Startups.
Avoid Common Pitfalls
Many businesses forget that state taxes like the ‘Business Premises Levy’ exist. These are often collected by state authorities like LIRS (Lagos) or KEDCO (Kano). You can find more information on state-specific rules on the LIRS website or the KPMG Nigeria insights page. Step-by-step, ensure you have a dedicated tax folder—either physical or digital—to store all your receipts and TCCs (Tax Clearance Certificates).
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