Income tax calculator Nigeria
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₦1,755,347
Income Tax
- ₦359,715
National Housing Fund (NHF)
- ₦43,884
Pension contributions
- ₦140,428
Total tax
- ₦544,027
Net pay
*
₦1,211,320
Marginal tax rate
32.0%
Average tax rate
31.0%
69.0%
Net pay
31.0%
Total tax
Total tax
Net pay
The Taxberg
₦1,211,320
Net pay
₦210,642
Tax the employer pays
₦544,027
Tax you pay
Total tax paid
₦754,668
Did you know your employer also pays tax on your salary? It costs the employer ₦210,642 to pay you ₦1,755,347. In other words, every time you spend ₦10 of your hard-earned money, ₦4.30 goes to the government.
Real tax rate
38.4%
So, with you and the employer both paying tax, what used to be a 31% tax rate now rises to 38.4%, meaning your real tax rate is actually 7.4% higher than what it seemed at first.
Summary
If you make ₦21,064,164 a year living in Nigeria, you will be taxed ₦6,528,320. That means that your net pay will be ₦14,535,844 per year, or ₦1,211,320 per month. Your average tax rate is 31.0% and your marginal tax rate is 32.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₦100 in your salary will be taxed ₦31.98, hence, your net pay will only increase by ₦68.02.
Bonus Example
A ₦1,000 bonus will generate an extra ₦680 of net incomes. A ₦5,000 bonus will generate an extra ₦3,401 of net incomes.
North America
Country
Net pay
Average tax
Rank
USA
NGN 18942028
10.1%
1
Canada
NGN 16038357
23.9%
2
Latin America
Country
Net pay
Average tax
Rank
Puerto Rico
NGN 19374698
8.0%
1
Colombia
NGN 19068719
9.5%
2
Ecuador
NGN 19045050
9.6%
3
Guatemala
NGN 19044427
9.6%
4
Costa Rica
NGN 18852427
10.5%
5
Panama
NGN 18664696
11.4%
6
Mexico
NGN 17433025
17.2%
7
Chile
NGN 17314620
17.8%
8
Uruguay
NGN 16830267
20.1%
9
Brazil
NGN 16589332
21.2%
10
Peru
NGN 16464683
21.8%
11
Argentina
NGN 13680054
35.1%
12
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Africa
Country
Net pay
Average tax
Rank
South Africa
NGN 18577281
11.8%
1
Morocco
NGN 16132573
23.4%
2
Mozambique
NGN 16089200
23.6%
3
Ivory Coast
NGN 15676757
25.6%
4
Angola
NGN 15612655
25.9%
5
Kenya
NGN 15592876
26.0%
6
Ghana
NGN 15369065
27.0%
7
Cameroon
NGN 14976367
28.9%
8
Nigeria
NGN 14535844
31.0%
9
Uganda
NGN 14183728
32.7%
10
Senegal
NGN 14115872
33.0%
11
Zambia
NGN 13443162
36.2%
12
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NOTE* Withholding is calculated based on the tables of Nigeria, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.