Income tax calculator Nigeria

Find out how much your salary is after tax

Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
₦3,520
Income Tax
- ₦221
National Housing Fund (NHF)
- ₦88
Pension contributions
- ₦282
Total tax
- ₦590
Net pay
* ₦2,930
Marginal tax rate
16.8%
Average tax rate
16.8%
83.2%
Net pay
16.8%
Total tax
Total tax
Net pay
The Taxberg
₦2,930
Net pay
₦422
Tax the employer pays
₦590
Tax you pay
Total tax paid
₦1,013
Did you know your employer also pays tax on your salary? It costs the employer ₦422 to pay you ₦3,520. In other words, every time you spend ₦10 of your hard-earned money, ₦2.88 goes to the government.
Real tax rate
25.7%
So, with you and the employer both paying tax, what used to be a 16.8% tax rate now rises to 25.7%, meaning your real tax rate is actually 8.9% higher than what it seemed at first.
People also ask
₦42,240 yearly is how much per hour?
₦20.31 hourly is how much per year?
Summary
If you make ₦42,240 a year living in Nigeria, you will be taxed ₦7,082. That means that your net pay will be ₦35,158 per year, or ₦2,930 per month. Your average tax rate is 16.8% and your marginal tax rate is 16.8%. 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 ₦16.76, hence, your net pay will only increase by ₦83.24.
Bonus Example
A ₦1,000 bonus will generate an extra ₦832 of net incomes. A ₦5,000 bonus will generate an extra ₦4,162 of net incomes.
Tax per income
₦5,000
₦10,000
₦15,000
₦20,000
₦25,000
₦30,000
₦35,000
₦40,000
₦45,000
₦50,000
₦55,000
₦60,000
₦65,000
₦70,000
₦75,000
₦80,000
₦85,000
₦90,000
₦95,000
₦100,000
North America
Country 
Net pay
Average tax
Rank
Canada
NGN 41569
1.6%
1
USA
NGN 38579
8.7%
2
Latin America
Country 
Net pay
Average tax
Rank
Mexico
NGN 41237
2.4%
1
Brazil
NGN 39071
7.5%
2
Puerto Rico
NGN 38881
7.9%
3
Colombia
NGN 38861
8.0%
4
Ecuador
NGN 38243
9.5%
5
Guatemala
NGN 38190
9.6%
6
Costa Rica
NGN 37805
10.5%
7
Panama
NGN 37588
11.0%
8
Peru
NGN 36959
12.5%
9
Argentina
NGN 35059
17.0%
10
Chile
NGN 34806
17.6%
11
Uruguay
NGN 34595
18.1%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
NGN 41817
1.0%
1
Angola
NGN 40973
3.0%
2
Uganda
NGN 40128
5.0%
3
Ghana
NGN 39916
5.5%
4
Zambia
NGN 39706
6.0%
5
Morocco
NGN 39393
6.7%
6
Ivory Coast
NGN 39072
7.5%
7
Senegal
NGN 36157
14.4%
8
Cameroon
NGN 35639
15.6%
9
Nigeria
NGN 35158
16.8%
10
Mozambique
NGN 22669
46.3%
11
Kenya
NGN 42240
129.2%
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.