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HomeFile tax returnsEducation Tax
File tax returnsStay compliant by filing your personal or business tax returns easily with our comprehensive guide. Get clarity on required documents, deductions, credits, and filing methods.
Education Tax

Education Tax

  • The Education tax is now governed by Tertiary Education Trust Fund (Establishment, Etc.) Act 2011 Imposed on all companies registered in Nigeria. The rate of the tax is 2% of assessable profit Due date for filing the tertiary education tax returns is the same as that of CIT and PPT. The tax is an allowable deduction in computing the assessable profits of companies engaged in petroleum operations(Upstream).
  • Funds derived from the tax are used for rehabilitation, restoration and consolidation of tertiary education in Nigeria by the Tertiary Education Trust Fund (TETFUND). The amount in the Fund is distributed between Universities, Polytechnics and Colleges of Education in the ratio 2:1:1 respectively. First offence against the Act is liable on conviction to a fine of ₦1,000,000 or a term of 6 months imprisonment or both. Second and subsequent offences attract a fine of ₦2,000,000 or a term of 12 months or both.
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