The Federal Government of Nigeria has launched a new Personal Income Tax Calculator as part of its 2024 tax reforms. This calculator will help taxpayers understand how the proposed changes will affect their earnings. It provides a side-by-side comparison of tax payments under the current law and the proposed tax bill, giving individuals a clearer picture of their financial obligations.
The calculator is part of the government's effort to increase transparency and taxpayer awareness, ensuring that Nigerians can plan their finances accordingly as the new tax structure takes effect. You can access the calculator by scanning a QR code or visiting the website (link unavailable).
Additionally, taxpayers can also utilize other income tax calculators available online, such as the one provided by Deloitte, to estimate their tax liability and get a summary of their incomes, allowances, deductions, and net income.²
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