Income tax calculator Nigeria
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₦320,000
Income Tax
- ₦51,403
National Housing Fund (NHF)
- ₦8,000
Pension contributions
- ₦25,600
Total tax
- ₦85,003
Net pay
*
₦234,997
Marginal tax rate
32.0%
Average tax rate
26.6%
73.4%
Net pay
26.6%
Total tax
Total tax
Net pay
Summary
If you make ₦3,840,000 a year living in Nigeria, you will be taxed ₦1,020,032. That means that your net pay will be ₦2,819,968 per year, or ₦234,997 per month. Your average tax rate is 26.6% 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.
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.