This Personal Income Tax Computation Excel Template is designed to help individuals and small business owners in the computation of their annual or monthly income tax.
What is Personal Income Tax (PIT)?
Personal Income Tax (PIT) is a direct Tax charged on the income or earnings of an individual. In this case, an individual may be employed or self-employed.
Personal Income Tax can be paid either through the Pay-As-You-Earn (PAYE) system for individuals in paid employment, or a Self-assessment method for the self-employed individuals.
About Personal Income Tax Computation Excel Template
There are several statutory requirements regarding the computation of the Personal Income Tax in Nigeria which both employers and small business owners struggle with when computing their income tax liability. And so, in a bid to make the process easier and hassle-free, we have designed this Personal Income Tax Excel Template for use in Nigeria.
This template comes with the following:
- Designed for individuals and small business owners.
- Automated calculation of tax payer’s monthly and annual Tax liability.
- Automated calculation of tax payer’s Taxable Income.
- Automated calculation of consolidated tax reliefs and allowable deductions.
- A Tax Calculator
- Instruction documentation on how to use the template.
- A video Tutorial
To get a Free Sample version of this template, click the Download button below.
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