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Home Financial Literacy

Withholding Tax: Beginners’ Guide For Small Businesses in Nigeria

Ugodre Obi-chukwu by Ugodre Obi-chukwu
October 8, 2019
in Financial Literacy, New to Investing, Small Business
FIRS could seal your office if you get these two notices
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Whether you are opting out of a paid job to run your own business, or you are entering into business with zero employment experience; one thing is certain: you are becoming an administrator and a business leader if you scale through. As such, it is required that you perform some managerial  obligations in the best interest of your business.

This is to expertly prevent you suffering undue charges in the long run. One of such obligations is the issue of Withholding Tax that comes in various ways. Here is a comprehensive guide detailing all you need to know about Withholding Tax in Nigeria.

What is a Withholding Tax?

A withholding tax is basically an advance and indirect source of taxation deducted at source from the invoices of the tax payer. It’s main purpose is to capture as much tax payers that may have evaded tax into the tax net. Withholding tax rates are usually 10% or 5% depending on the type of transaction and collecting authority for the tax (which can be a Federal Inland Revenue or the State Inland Revenue).

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[ALSO READ: A legal view of corporate taxation in Nigeria]

Withholding tax

[ALSO READ: Taxes you need to be aware of if you are about to start a business]

How Does it work?

When a company or individual supplies goods or services to another company an invoice will usually be issued as evidence of a transaction. If for example the amount payable by the purchaser is N1million at the relevant tax rate is 10% then upon payment the purchaser will deduct N100,000 from the invoice of the supplier and then remit to the relevant tax authority.

The Purchaser is also obligated to obtain evidence of remittance in the form of a withholding tax credit note on behalf of the supplier. The Supplier can now use the tax credit not to reduce any income tax payable at the end of his year of assessment.

How do I use a WHT Note to reduce my income taxes?

WHT is an advance payment of your income tax, therefore if at the end of a financial year your tax payable is N500,000.00 and an aggregate of all your WHT credit note is N200,000.00, the net tax you will pay to the government will be N300,000.00. That is why it is important to keep your WHT Note.

withholding tax 2

[ALSO READ: A legal view of corporate taxation in Nigeria]

Please tell me more on the WHT Note

Okay, the WHT credit note is a document issued by a relevant tax authority to a beneficiary as evidence that withholding tax was deducted from its business. It is usually issued to the company that deducted the WHT from your invoice as such you must endeavour to always go back and request for it. This is because without it you will not be able to claim back the money that has been deducted from your invoice.

A WHT Credit note will include the following

  1. Credit Number
  2. The name of the tax payer (purchaser of your services or goods) who deducted the tax and remitted on your behalf
  3. The name of the beneficiary whose invoice was deducted (which is you I suppose)
  4. The Date of the transaction including the nature of the transaction

So what happens if my customer fails to remit my taxes on time?

Too bad, there is nothing much you can do except complain and then blacklist the customer. However, the tax authority upon noticing have penalties ranging from 200% per annum of tax not remitted for companies and N5,000 per annum for individuals. Meaning if your customer fails to remit N100k in withholding taxes already deducted from your invoice his penalty will be to pay N200k extra.

This penalty also applies to anybody who equally fails to deduct as well. Fortunately though, the tax authority can exercise leniency and grant the default some reprieve against the penalty.

remitter withholding tax

[ALSO READ: Taxes you need to be aware of if you are about to start a business]

As the Remitter , when Do I have to remit the taxes I deduct?

So, if you deduct taxes from your suppliers invoice you must file returns at the end of any given month. All you do, is draw up a schedule detailing the list of companies you deducted taxes from, their addresses, the value of the invoices,  the tax deducted and the rate, Your name and address as the tax payer and the relevant tax authority . You then attach a cheque(s) for the total amount deducted for the month.

You can pay directly to the bank. Banks these days have agent who collect these cheques on your behalf and promptly obtain receipt of payment on your behalf. After obtaining receipt of payments, you now take to the relevant tax authority attached to your schedule, so you can be handed the WHT credit notes on behalf of your clients. You should keep a file for all the WHT Credit note you receive on behalf of your clients for easy accessibility.

Does it mean all transactions involve WHT?

WHT is mainly for transaction involving contract of purchase. What this means is that WHT can only be deucted from your invoice if it involves supply of goods and services to a destination requested for by your client. WHT cannot be deducted in the ordinary course of your business, meaning if I you sell soaps and I come to your shop or market to buy the soap, I cannot deduct WHT from your receipt.

However, If I ask you to supply to me then that becomes a contract and as such I am obliged to deduct WHT from you.

[ALSO READ: A legal view of corporate taxation in Nigeria]

Please what do you really mean by Relevant Tax Authority?

A relevant tax authority is either the State or the Federal Government. The State Government collected WHT from Individuals or Sole Traders under the Personal Income Tax Act. The Federal Inland Revenue collects tax on behalf of the Federal Government under the Company Income Tax Act

CAVEAT: Don’t forget to always consult a tax consultant for help with your taxes. This only serves as a guide.

[ALSO READ: Taxes you need to be aware of if you are about to start a business]


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Tags: BeginnersCapital Gains TaxFinancial TurotialsI'm new to investingNigeriaPAYESMETAXValue Added TaxWithholding Tax
Ugodre Obi-chukwu

Ugodre Obi-chukwu

Ugo Obi-Chukwu "Ugodre" is the Founder, Publisher, and Chief Analyst of Nairametrics, a leading business and financial news online platform in Nigeria. Ugo is also the Chief Editor of the Nairametrics “Blurb” Opinion pages. Follow Ugodre on Twitter @ugodre and Instagram @ugodre Email: ugodre@nairametrics.com

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Comments 84

  1. Heather says:
    October 26, 2013 at 5:40 am

    Precisely what really motivated you to create “A-Z Of Withholding Tax In Nigeria – Beginners Guide For Small Businesses | UGOMETRICS BLOG”?
    I personallycertainly adored the post! Thanks -Anita

    Reply
  2. zoefafa says:
    March 22, 2014 at 10:50 pm

    thanks a lot ugometrics. stumbling upon the link that brought me to this site has been like striking a diamond mine of financial literacy. thanks a bunchy y’all.

    Reply
  3. subas says:
    March 26, 2014 at 12:43 pm

    Very educating…

    Reply
  4. Anonymous says:
    July 23, 2014 at 9:36 am

    I found this article on withholding tax very useful. I think that there is a high risk of double taxation with this category of tax. The other issue is the technicality involved in determining what constitutes ordinary course of business especially for service providers. I believe that if the other heads of taxes are well monitored and executed, there would be no need for withholding tax and the risk of double taxation for instance via WHT and VAT on the same service

    Reply
  5. Teingo Inko-Tariah says:
    July 23, 2014 at 9:37 am

    I found this article on withholding tax very useful. I think that there is a high risk of double taxation with this category of tax. The other issue is the technicality involved in determining what constitutes ordinary course of business especially for service providers. I believe that if the other heads of taxes are well monitored and executed, there would be no need for withholding tax and the risk of double taxation for instance via WHT and VAT on the same service

    Reply
  6. Mordi Vincent says:
    September 30, 2014 at 11:32 am

    Thanks for educating me in the field of Taxation.

    Reply
  7. Eno says:
    November 13, 2014 at 9:45 pm

    Very educating. Thank u for the awareness on dis topic

    Reply
  8. omolara says:
    November 20, 2014 at 2:51 pm

    Beautiful! Really helped

    Reply
  9. Sandra says:
    December 3, 2014 at 3:46 pm

    Please, I need clarification on something. My employer charged a supplier WHT on his invoice, and the selling price of the goods already has VAT included. So the supplier claims that since he has charged VAT on the transaction that there was no need to pay his fees net of WHT again.
    Could you please provide explanation to clear this.

    Reply
    • Nairametrics says:
      December 3, 2014 at 4:18 pm

      Hi Sandra, You charge 10% WHT (if it is a registered company) or 5% WHT (if its a sole trader) on his invoice.So for example, he sells you an item costing N100 and charges 5% VAT his invoice will be N105. However, before paying you deduct the WHT from the N100 and not N105. The tax base for WHT is on the supply value (excluding VAT) Cheers

      Reply
      • Sullivan says:
        February 18, 2015 at 9:48 am

        Hi Nairametrics, the first sentence of your explanation is not quite correct. What determines the WHT tax rate is first of all the nature of the transaction and then the entity type. For example, a supply of a good or the provision of a service (contract of supply/service) will attract WHT at 5% irrespective of whether it is an incorporated entity (limited liability company, plc) or unincorporated entity (partnership, enterprises etc.

        Reply
    • Dennis says:
      April 13, 2017 at 2:11 pm

      Since the invoice is vat inclusive, then your employer was right by deducting WHT from the invoice.

      Reply
  10. Jide says:
    December 6, 2014 at 1:55 pm

    Nice

    Reply
  11. Bola says:
    January 16, 2015 at 10:29 am

    Thanks… This is really helpful

    Reply
  12. Osasuyi Peter says:
    January 26, 2015 at 12:59 pm

    WTH has been clearly explained in your post. I really like the examples and the simple language used. Thank you a lot.

    Reply
  13. Osasuyi Peter says:
    January 26, 2015 at 1:04 pm

    I meant WHT up there.

    Reply
  14. Sullivan says:
    February 18, 2015 at 9:55 am

    A good post…. We have setup Taxassit to provide free tax services to starters and SMEs in Lagos and Port Harcourt. All tax advices are provided by volunteers with experience from the big 4 accounting firms.

    The website is under construction and the services are completely free.

    Reply
    • Anonymous says:
      March 9, 2016 at 5:40 pm

      Thanks for the good initiative I’m highly interested to participate you can reach me on Adetao2007@gmail.com thanks
      Adekola Taofeek Aca

      Reply
    • juciken says:
      March 21, 2018 at 5:56 pm

      What’s the endpoint of the free service? If free indeed, then I am interested

      Reply
  15. Oby says:
    March 11, 2015 at 8:32 am

    Does a company in a particular state pay WHT on supplies of raw materials to the state Government where it resides.

    Reply
  16. Oby says:
    March 11, 2015 at 8:33 am

    Does a company in a particular state pay WHT on supplies of raw materials to the state Government where it resides and if not why

    Reply
    • Nairametrics says:
      March 11, 2015 at 9:41 am

      Companies pay WHT to the FG not state. Only Sole traders or One Man businesses or Partnerships pay to the state

      Reply
    • Anonymous says:
      January 19, 2016 at 2:38 pm

      Please can WHT be deducted in rents?

      Reply
  17. Agie says:
    March 17, 2015 at 10:48 am

    who can the lagos internal revenue service collect WHT from? can it be collected from a limited liability company?

    Reply
  18. Emmanuel Uwaga says:
    July 29, 2015 at 10:54 am

    Please what will be the right WHT treatment on invoice sent iro out sourced staff salaries with all statutory deductions to be remitted by the sourcing firm?

    Reply
    • Nairametrics says:
      July 29, 2015 at 6:50 pm

      We believe it is 10%

      Reply
      • Anonymous says:
        May 19, 2019 at 4:00 am

        10% of the total invoice or 10% of service charged?

        Reply
  19. EDAMISAN AJOSE TIKOLO says:
    November 19, 2015 at 12:42 pm

    This is quite rich and knowledge broadening. Kindly cite the relevant tax legislation and date for WHT legislation in Nigeria

    Reply
  20. Opiughie John says:
    January 19, 2016 at 8:39 am

    Can WHT be deducted in retrospect?

    Reply
  21. Constance Joy says:
    January 19, 2016 at 2:40 pm

    Please how can WHT be deducted from rent?

    Reply
  22. jamiu says:
    January 28, 2016 at 3:11 pm

    For transactions that attract both vat and wht. I think the normal practice of deduction is to deduct vat first from the gross value and later apply appropriate wht rate on the net after vat. Some say no to this approach.they opined that the wht rate should be applied on the gross. Please which of these opinions is right

    Reply
    • Anonymous says:
      March 2, 2017 at 7:39 am

      WHT rate should be applied on the net amount. Applying it on the gross will amount to charging WHT on VAT.

      Reply
  23. Anonymous says:
    February 4, 2016 at 4:32 pm

    This article is wonderful. All thanks

    Reply
  24. Gideon says:
    February 9, 2016 at 12:35 pm

    How do you handle a situation where WHT was not deducted on previous payments on a contract which occurred in previous years? Can WHT of the previous payments be deducted by the Client from the outstanding balance in the preceding year?

    Reply
  25. Ada says:
    February 17, 2016 at 11:32 am

    Do you need to withold WHT if you have not paid the supplier?

    Reply
  26. Anonymous says:
    April 7, 2016 at 9:58 am

    Thanks for the post….
    However, in a case of an unincorporated company (Enterprise), I understand it is not liable to pay Company Income Tax. The customers have been paying WHT on its behalf. How does an Enterprise claim back the deducted WHT from the government since it is not liable for CIT?

    Reply
  27. Irene says:
    April 15, 2016 at 9:33 am

    This post is brilliant. The language is simple and very comprehensible. Thank you so much for this insightful piece. Can you please provide the link to the Taxassist website you spoke about?

    Reply
  28. idris Olufowobi says:
    April 20, 2016 at 10:45 am

    Is WHT applicable on foods supplied by a fast food outlet for a function?

    Will appreciate your prompt response.

    Reply
    • Nairametrics says:
      April 20, 2016 at 1:16 pm

      Yes it is

      Reply
  29. Victor Olanrewaju says:
    April 25, 2016 at 3:28 pm

    Thanks so much for this piece

    Reply
  30. willy says:
    June 9, 2016 at 9:44 am

    The text is simplified and very interesting.

    Reply
  31. Maureen says:
    June 13, 2016 at 6:30 am

    Thanks so much you have saved me the stress of going to FIRS for enquiry.

    Reply
  32. Chika says:
    June 17, 2016 at 10:32 am

    This has to be an all time classic! Thank you nairametrics for helping small businesses everywhere!

    Reply
  33. Dayo Akande says:
    July 7, 2016 at 7:21 pm

    The write up on WHT is educative and insightful. Thank you

    Reply
  34. Dare says:
    August 25, 2016 at 11:38 am

    Good write-up, but quick question pls. Supposing I gave out an Invoice with contract value of N50,000 and VAT of N2,500. Total Invoice value comes to N52,500. The client paid N47,500 (which is a deduction of 10% WHT on the contract value). My question is since the client deducted withholding tax and gave me the WHT credit note, am I still supposed to remit the VAT of N2,500 to FIRS? Thinking it will be double taxation when I remit VAT of N2,500 again from my N47,500. please help out. Thanks

    Reply
    • Nairametrics says:
      August 25, 2016 at 1:16 pm

      Hi…it will not be double taxation. You are still expected to remit the N2,500 as vat. You only remit less if you have a corresponding input vat

      Reply
    • Immanuel Silas says:
      March 2, 2017 at 8:35 am

      Let’s look at it this way:

      Contract value 50000
      VAT 2500
      Total 52500

      When payment is made.

      Cheque 47500
      Credit Note 5000
      Total 52,500

      Hence, when you remit VAT of N2500 from the cheque amount, You’ll still be left with your contract value of N50000 which is now made up of N45000 in bank and N5000 in form of WHT credit note.

      Reply
    • Adekunle says:
      July 11, 2019 at 9:25 am

      Hi Dare,
      If the WHT Credit Note issued to you is valued at N5,000, (as against N2,500 at 5% as expected), it then means a 10% rate was applied to your invoice. However, you still have to remit the VAT of N2,500.
      Thank you

      Reply
  35. Lanre says:
    November 9, 2016 at 1:41 pm

    Thanks so much for the info. Is my school’s end of year party also liable to the WHT?

    Reply
  36. Philip says:
    December 11, 2016 at 9:39 pm

    Please if am paying withholding tax, should I pay for the tax that is called for by a local government council?

    Reply
    • Nairametrics says:
      December 11, 2016 at 10:21 pm

      Pls explain better. What local government tax are you referring to?

      Reply
  37. Peju Olufemi says:
    February 16, 2017 at 12:03 pm

    I appreciate your good work but I will enjoy updates on economic issues,
    thanks,

    Peju

    Reply
  38. Olumide Olumorokun says:
    May 31, 2017 at 2:06 pm

    The A-Z of Witholding tax in Nigeria depicts the best way of explanation of the concept of Witholding tax with clarity on the part of a lay-man. thank you

    Reply
  39. chima frank says:
    June 1, 2017 at 1:35 pm

    am in a supply firm, we have not been given WHT credit note from a particular company for some time now and the authority(government) have charged us to bring our note or to pay the bills. pls i want to know how to go through in getting all the WHT from that company we have been supplying to.

    Reply
  40. John says:
    September 2, 2017 at 4:41 pm

    less grammar and jargons. Simply telling what it is anyone might be wanting to know. Thank you very much

    Reply
  41. Onosemuode Efe says:
    September 14, 2017 at 11:56 am

    How do I generate a schedule, please? Thanks.

    Reply
  42. Olukayode Adedayo says:
    September 25, 2017 at 8:51 pm

    If I am not the purchaser or supplier and WHT has been deducted from purchaser, would I still pay tax on my commission received from supplier?

    Reply
  43. SANUADE OLUSEYI says:
    October 19, 2017 at 5:26 pm

    If a supplier of service gave a certain % of discount to a purchaser, what value will be subjected to WHT? is it the gross or the net value?

    Reply
  44. Anonymous says:
    February 21, 2018 at 8:55 pm

    Please how do you account for WHT tax (from service provider’s perspective)? I would like to know the accounting entries.

    Reply
  45. Divine says:
    April 4, 2018 at 10:28 pm

    My tenant, an eatery pays one million as rent, is it right for the tenant to deduct 10% from my rent as WHT even when l am a retiree. Please, l really want to be educated on this. Divine

    Reply
    • Nairametrics says:
      April 5, 2018 at 7:07 pm

      The eatery will deduct WHT from rent payment to you if the house is not owner-occupied.

      Reply
  46. Anonymous says:
    April 24, 2018 at 3:15 pm

    Best description, simple and straight to the point! Thank you

    Reply
  47. Ife says:
    June 25, 2018 at 4:32 pm

    Thank you for the info. Kindly advice on what to write to a client who deducts witholding tax on total invoice instead on admin charge. Thank you

    Reply
  48. Prince Oputun says:
    June 26, 2018 at 12:20 pm

    Thank you for the information.

    Reply
  49. Caroline says:
    June 28, 2018 at 4:01 pm

    Thanks for this article, could you please let me know if WHT is applicable for transport services(air freight shipment from Europe to Lagos) invoiced by a foreign company

    Reply
    • Adenike says:
      December 6, 2018 at 4:53 pm

      WHT can only be charged on transactions carried out within Nigeria. Foreign company’s will not have any means of accessing the credit notes.

      Reply
      • Abideen Abdulraheem says:
        November 9, 2023 at 9:29 pm

        This a wonderful piece of work, but my question is
        1. What are the criteria to meet before a company can withhold tax on behalf of government, state or federal?
        2. What should be the appropriate actions to take against a company who refused to issue tax credit note having dedicated withholding tax?
        I strongly hope that these questions of mine are clear enough to deserve an answer. I have dropped my email address for subsequent post on tax related information or enlightenment as well as response to my questions.
        Many thanks.

        Reply
  50. Anonymous says:
    July 10, 2018 at 12:05 pm

    Thanks, the article is educating.

    Reply
  51. Anonymous says:
    August 1, 2018 at 10:45 am

    Good Article, please how much withholding tax is deducted from a retainership fee meant for a Law firm who offer legal services to a company?

    Remember the Law firm is an enterprise not a company.

    Reply
  52. Lyn says:
    August 16, 2018 at 1:08 pm

    so we paid our agent the sum of 15m for rent and the contract stated that the amount was net of tax. so this means we will pay 10% of that amount to LIRS? kindly assist as i will appreciated your swift response.

    Reply
  53. K7 says:
    August 28, 2018 at 12:04 pm

    If another country ( DRC Congo) deducts WHT for an export contract from Nigeria ..can the Nigerian co. use the WHT credit note to claim Tax offset

    Reply
  54. Lucky Ehigie says:
    August 29, 2018 at 3:12 pm

    Can WHT be deducted on a landed property trasaction? Say I sell my house to a company at an agreed sum, does the company have any power to deduct any amount in the name of WHT?

    Reply
  55. Topaz says:
    April 12, 2019 at 5:07 am

    What are the differences between vat and wht?

    Reply
  56. Today Birthday says:
    December 28, 2019 at 9:22 pm

    I relish, result in I found just what I used to be looking for.
    You have ended my four day long hunt! God Bless you man. Have
    a nice day. Bye

    Reply
  57. Bayo says:
    January 25, 2020 at 11:58 am

    What can be done if my employer has been deducting my tax and pension from my salary every month and they refuse to remit it and it has been ongoing for 4 months?

    Reply
  58. Toochi says:
    February 29, 2020 at 8:53 am

    Clear and direct. Many thanks. Thanks again.

    Reply
  59. OMOLARAENY says:
    March 5, 2020 at 8:22 pm

    Good evening and thanks for this explantion on WHT. Do you charge WHT on the total value on the invoice or the service charge of the supplier?

    Reply
  60. Jam says:
    March 11, 2021 at 4:09 pm

    Good evening Nairametrics. If we hire contractors to do some construction or building repairs and related activities, at which amount will be the basis on computing withholding tax? For example, their invoice amount is N100,000, this already include 70,000 for materials and 30,000 for labour/workmanship. How would we treat this with regards to withholding Tax Computation? Thank you.

    Reply
  61. Arinze MacDonald says:
    May 27, 2021 at 7:19 am

    Thank you so much for your teaching.
    My question is this,
    If I have an enterprise company that pays her tax to the State government, and my Landlord is a limited liability company that pays tax to FIRS, will I still deduct withholding tax for the Internal Revenue Services?
    Thanks

    Reply
  62. chidi Aligwo says:
    June 22, 2021 at 11:01 am

    Can WHT be deducted from invoice amount to sole traders?

    Reply
  63. James Emmanuel says:
    July 19, 2022 at 8:45 pm

    I think this question has been ignored severally. Is withholding tax charged on rent

    Reply
  64. olusola says:
    July 28, 2022 at 8:55 am

    i need more clarification on withholding tax payable to state and Federal Government

    Reply
  65. Dare says:
    March 20, 2023 at 12:18 pm

    Nice one

    Reply
  66. Sadiqhud says:
    August 17, 2023 at 2:34 pm

    Wow. I have learned alot from this

    Reply

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Nigerian banks lose N42.6 billion to fraud in Q2 2024, surpassing full-year 2023 record

BREAKING: Court fines Senator Natasha Akpoti N5m for satirical post against Godswill Akpabio, directs her recall 

July 4, 2025
CAF President, Patrice Motsepe’s net worth hits $3.4 billion 

CAF President, Patrice Motsepe’s net worth hits $3.4 billion 

July 4, 2025
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