Description of Incentive Benefits
A person is entitled to a CRA on his or her gross income of N200,000, subject to a minimum of 1% of gross income whichever is higher plus 20% of gross income, before tax rates in the Sixth Schedule are applicable to compute tax liability
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Section 33(1) and Sixth Schedule of PITA 2004 (As amended in 2011)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals.
Eligibility Criteria
All individuals earning income from employment, trade, business, profession or vocation by filing and claiming in their tax returns as follows:
- Within the month of January for employment income; and
- Within the months of January to March for income from trade, business, profession or vocation
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
A taxable person who files a self-assessment return within 90 days as specified for filing of the return shall, if there is no default in the payment arrangement, be granted a bonus of 1 % of the tax payable
Year Introduced
1996
Legal Document/ Legal Reference Instrument
Section 45 of PITA 2004 (As amended)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals doing business in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Platea State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
from trade, business, profession or vocation by filing self-assessment tax returns:
- Within 90 days income; and
- Must not default in the payment arrangement
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Notwithstanding the provisions of section 3(1) of this Act, where a resident derives income from a source outside Nigeria and the income is brought into Nigeria through Government approved channels, he shall be allowed a tax credit against the tax payable by him but the tax credit shall not exceed the proportion of his total tax for the year of assessment which that income derived from outside and brought into Nigeria bears to his aggregate income chargeable to tax in Nigeria.
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Section 11 of PITA 2004 (As amended in 2011)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Income source must be outside Nigeria derived by a Nigerian resident
ii. The channel of repatriation of income into Nigeria must be government approved channel
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
A contribution to a pension, provident or other retirement benefits fund, society or scheme recognised under the Pension Reform Act is a deduction allowed for the purpose of ascertaining the income or loss of an individual for any period from any source chargeable with tax under this Act.
Year Introduced
2021
Legal Document/ Legal Reference Instrument
Section 20(1)(g) of PITA 2004 (As amended by Section 26 of Finance Act 2020)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals doing business in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Platea State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. i. The contribution must be to a pension, provident or other retirement scheme recognised under the Pension Reform Act
ii. The sources of income must be subjected to tax under this Act
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Any expenses which are proved to the satisfaction of the relevant tax authority to have been incurred by the individual on research for the period including the amount of levy paid by him under the National Agency for Science and Engineering Infrastructure Act is an allowable deduction for the purpose of ascertaining the income or loss of an individual for any period from any source chargeable with tax under this A
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Section 20(1)(i) of PITA 2004 (As amended in 2011)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Expenses must be incurred by individual on research for the period.
ii. Expenses incurred must be to the satisfaction of the relevant tax authority
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
a deduction of the annual amount of any premium paid by the individual during the year preceding the year of assessment to an insurance company in respect of insurance on his life or the life of his spouse, or of a contract for deferred annuity on his own life or the life of his spouse.
Year Introduced
2021
Legal Document/ Legal Reference Instrument
Section 33(3) of PITA 2004 (As amended by Section 29 of Finance Act 2020)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Premium on life insurance must be paid by individual during the year preceding the year of assessment
ii. Insurance must be for the individual’s life or that of his/her spouse
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Notwithstanding any of the provisions of this Act, where for all practical purposes the income of the taxpayer cannot be ascertained or records are not kept in such a manner as would enable proper assessment of income, then such a taxpayer shall be assessed on such terms and conditions as would be prescribed by the Minister in regulations by order of gazette under a presumptive tax regime.
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Section 36(6) of PITA 2004 (As amended in 2011), and Section 46 and First Schedule (Paragraph 13) of Plateau State Revenue (Consolidation) Law 2020.
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals doing business in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Where individual trade or business do not keep accounting records or profit cannot practically be ascertained.

ii. Individuals should register to be assessed under the presumptive tax regime.
iii. Individuals shall register their type of businesses under micro-business, small-business or medium-business with presumptive tax band ranging from N2,500 to N100,000 (Plateau State Revenue (Consolidation) Law 2020).
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Provided that minimum tax under this Section or as provided for under the Sixth Schedule to this Act shall not apply to a person in any year of assessment where such person earns the National Minimum Wage or less from an employment.
Year Introduced
2021
Legal Document/ Legal Reference Instrument
Section 37 of PITA 2004 (As amended by Section 30 of Finance Act 2020)
Duration/ Mode
Continuously, subject to future amendments
Sector
Employed Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Platea State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Individuals must be in the employment of an organisation under PAYE Scheme
ii. Individuals must earn National Minimum Wage (N30,000 per month) or less.
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Notwithstanding that a tax authority requires a taxable person to file a return containing the amount of his income for each year of assessment, no return of income shall be filed by a person whose only source of income in any year of assessment is employment in which he earns N30,000 or less from that source.
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Section 43 of PITA 2004 (As amended in 2011).
Duration/ Mode
Continuously, subject to future amendments
Sector
Employed Individuals in all sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
i. Individual only source of income in any year of assessment is employment
ii. Individual earns N30,000 or less
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Interest on any loan granted by a bank to a person engaged in --
(a) agricultural trade or business; and
(b) the fabrication of any local plant and machinery shall be exempted from tax.
Year Introduced
2020
Legal Document/ Legal Reference Instrument
Sections 70, 75 and Third Schedule (Paragraph 7) of PITA 2004 (As amended by Section 31 of Finance Act 2019)
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in the agricultural and fabrication sectors
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Platea State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
The bank loan must be for agricultural trade or business and fabrication of any local plant and machinery
Awarding Agency
PSIRS and FIRS

Description of Incentive Benefits
Income earned from the following are exempted from tax-
(a) bonds issued by Federal, State and Local Governments and their agencies;
(b) bonds issued by corporate including supra-nationals; and
(c) interest earned by holders of the bonds, and short-term securities listed in paragraphs (a) and (b).
Year Introduced
2011
Legal Document/ Legal Reference Instrument
Paragraph 31A of the Third Schedule of PITA 2004 (As amended by Section 31(e) of Finance Act 2019),
Duration/ Mode
Continuously, subject to future amendments
Sector
Individuals in the Security Investment Sector
Federal or State Level
All states and FCT
Implementation Agency
PSIRS for residents of Plateau State; and FIRS for residents of FCT, personnel of Armed Forces, External Affairs Ministry, and non-resident individuals
Eligibility Criteria
Security investment must be on government and corporate bonds.
Awarding Agency
PSIRS and FIRS