Personal Income Tax

This is
the most paid, type of tax anywhere in the world. Every adult is expected to
pay his personal income tax to the relevant revenue authority. In Nigeria the
State Boards of Internal Revenue in each state collect the personal income tax
of every individual, Except the Residence of Federal Capital Territory, The
Military, The Police and the Employees of foreign employment who make their
payments to FIRS. The method of payment of personal income tax and returns
rendering is broadly categorized into two. The Direct assessment of a person or
entrepreneur and the Indirect Pay-as-You-Earn (P-A-Y-E) scheme. The Personal
Income tax is guided by Personal Income Tax Act 20116 as
amended

22/01/2019

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