Menu
Ministries, Departments & Agencies
Latest News
©2024 Edo State Government
©2024 Edo State Government
Personal Income Tax is imposed on individuals who are either in employment or are running their own small businesses under a business name or partnership. In Edo State, the collection of Personal Income Tax is a state responsibility.
Types of Personal Income Tax:
– Pay-As-You-Earn (PAYE): Taxes deducted from employees’ salaries and wages by employers.
– Taxes from Self-Employed Persons (Direct Assessment): Taxes assessed directly on self-employed persons, including professionals, contractors, traders, and landlords.
Tax Legislation
The Personal Income Tax Act (Cap P8 LFN 2004) guides the taxation of personal incomes in Nigeria, including Edo State. The Act empowers tax boards to identify taxpayers, assess incomes, and tax them using specified guidelines and rules.
Capital Gains Tax is a tax on the profit made from the sale or exchange of capital assets like land, shares, and machinery. It is applicable to individuals in Edo State.
Stamp Duties is a tax imposed on legal instruments/documents executed by individuals. It is usually placed on the transfer of homes, buildings, copyrights, land, patents, and securities.
Business Premises Levy is a tax on property used for the production of income, including rental houses, office buildings, and factories. The levy is required for registration and renewal in urban and rural areas.
Hotel Occupancy and Restaurant Consumption Tax is a tax imposed on goods and services consumed in hotels, bars, restaurants, and event centers within Edo State. The tax is payable by consumers, with the establishments serving as collecting agents.
Withholding Taxes is the specified amount deducted at source from payment accruing or made to individuals or corporate entities. It is in respect of income receivable for services rendered or from investment, and remitted to the Relevant Tax Authority in line with the provisions of the Personal Income Tax (PITA) and Companies Income Tax Acts (CITA).
