Where to Find us

16 Wharf Road

Apapa Quays

Lagos

Nigeria

​Praxima Services Includes

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• Full Payroll Outsourcing
   

• Hybrid Payroll Outsource
   

• International Payment Management
   

• Local Filing
   

• Social Security Filing
   

• Interact with Local Authorities
   

• Human Resources Management System
   

• Integration with all Accounting and Third Party
  
  Software

Local Tax Compliance

Secure Data Transferring

Responsive Administrators

Increase Productivity

Industry Experts

Running Your Payroll

Focus on Your

Core Business

International Quality Payroll in Nigeria

Payroll in Nigeria

Income tax rate in Nigeria is calculated on a sliding scale ranging from 7% to 24%.  Residents are taxed on their worldwide income while non-residents are only taxed on their Nigerian-source income. 

Taxable Income

The following categories of revenues and capital gains are subject to individual income tax, each taxable under separate rates: 

1. Salary revenues

2. Professional revenues

3. Real estate revenue and capital gains 

4. Revenues derived from agricultural farms 

5. Revenue and capital gains on financial instruments.  

Nigeria uses the PAYE (Pay As You Earn) system to process income tax payable to the State Internal Revenue Service (SIRS) .  Nigerian tax residents are taxed on their worldwide income while non-residents are only taxed on their income sources within Nigeria. 

Exempt Income

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Any foreign sourced income of residents that arises from interest, rents, royalties, dividends, fees and commission will be exempted from tax on the condition that the funds are brought into Nigeria in a convertible currency and paid into a domiciliary bank account approved by the government.  A similar requirement is applicable to athletes, authors, professional artists, musicians and play-writers for any income sources outside of Nigeria. 

Your HRMS is Standard 

Tax Residents

An individual will be considered a resident should he/she be present in Nigeria for at least 183 days in a 12 month period or is he/she serves the country as a diplomat of diplomatic agent abroad.  

PAYMENTS, REPORTING & FILING

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• Direct payment into employee bank accounts. Emailed password protected pay slips.

• Payment of taxes, benefit providers and other creditors.

• Filing of returns to the authorities.

• Generation and filing of statutory reports.

• General ledger and 100's of customisable reports.

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