TaxClarity NG
TaxClarity

Self-Employed Tax Calculator

Simplify your taxes as a freelancer or business owner. Calculate your liability on profit, not just revenue.

Self-Employed Tax Calculator

Calculate your tax as a sole proprietor/freelancer - Nigeria Tax Act 2025

Your Business Details

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Total revenue from your business

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Allowable business expenses (rent, equipment, etc.)

Tax Exemption: Businesses with turnover below ₦50 million are tax-exempt

Tax Calculation Results

Enter your business details and click Calculate to see your tax breakdown

Tax Exemptions

  • ✓Businesses with turnover below ₦50 million are completely tax-exempt
  • ✓Agricultural companies enjoy a 5-year tax holiday
  • ✓Tax is calculated on profit (turnover minus expenses), not turnover

Important Notes

  • ℹKeep proper records of all business expenses for tax purposes
  • ℹOnly allowable business expenses can be deducted
  • ℹFile annual tax returns even if tax-exempt

Tax Guide for Nigerian Entrepreneurs

If you run a business in your own name (Sole Proprietorship) or work as a freelancer, you are subject to Personal Income Tax (Direct Assessment).

Unlike employees, you only pay tax on your Profit, which is your Total Revenue minus Allowable Business Expenses.

Key Tax Facts

  • Small Business Exemption: Businesses with annual turnover less than ₦25 Million are exempt from Company Income Tax (CIT), but individuals must still file Direct Assessment.
  • Allowable Expenses: Rent, staff salaries, internet, and equipment costs can be deducted from your revenue.

Filing Your Returns

  • Deadline: March 31st of every year for the preceding year.
  • Where to Pay: Your State Internal Revenue Service (e.g., LIRS for Lagos, FCT-IRS for Abuja).

Keep Your Business Compliant

Don't let tax season catch you off guard. Upload your bank statements to TaxClarity and let our AI calculate your profit and tax automatically.

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Self-Employed Tax Calculator Nigeria (Free) | Business Profit Tax | TaxClarity NG