If your company is registered with the Corporate Affairs Commission (CAC), you have a legal obligation to file a Company Income Tax (CIT) return every year. It doesn't matter if your revenue is ₦0, if you haven't started operations, or if you qualify for the small company 0% rate — you must file.
This guide walks you through the entire CIT filing process: what's due, when it's due, what documents you need, and how to avoid penalties.
Who Must File CIT Returns?
Every company registered with the CAC must file a CIT return with the Nigeria Revenue Service (NRS). This includes companies that are dormant, pre-revenue, loss-making, or exempt from paying CIT. The filing obligation is universal — there are no exceptions based on size, revenue, or industry.
This applies to:
- Limited liability companies (Ltd/Gte)
- Public limited companies (PLC)
- Companies limited by guarantee
- Foreign companies with a taxable presence in Nigeria
It does NOT apply to:
- Sole proprietorships (file PIT instead)
- Partnerships (partners file PIT individually)
- Business names without incorporation
Nil Returns: Filing When Revenue Is ₦0
One of the most common questions: "My company hasn't made any money yet. Do I still file?"
Yes. You file a nil return — a CIT return showing ₦0 revenue, ₦0 profit, and ₦0 tax liability. This keeps your company compliant and avoids accumulating late-filing penalties.
Example: Tunde incorporated his tech startup in March 2025. The product is still in development and the company has earned ₦0 revenue. He still needs to file a CIT return (nil return) with the NRS within 18 months of incorporation (by September 2026).
A nil return typically includes:
- A letter confirming the company hasn't commenced business
- Management accounts or a statement showing no transactions
- The CIT return form showing all zeros
Filing Timeline
The deadlines are non-negotiable. Once they pass, penalties start:
| Company Type | Filing Deadline | Example |
|---|---|---|
| Existing companies | Within 6 months of accounting year-end | Year-end Dec 31 → File by June 30 |
| Newly incorporated companies | Within 18 months of incorporation (or 6 months after first year-end, whichever is later) | Incorporated Jan 2025 → File by July 2026 |
Note: Your company can choose any accounting year-end (December, March, June, September — whatever suits your business). But once chosen, the 6-month window starts from that date every year.
Required Documents for CIT Filing
A complete CIT filing package consists of:
1. Audited Financial Statements
Prepared by a qualified chartered accountant. Must include the statement of financial position (balance sheet), statement of profit or loss (income statement), statement of cash flows, and notes to the accounts.
2. Tax Computation Schedule
This reconciles your accounting profit to your taxable profit. It adds back disallowable expenses (entertainment, donations above limits, provisions) and deducts exempt income and capital allowances.
3. Capital Allowance Schedule
Claims depreciation on qualifying capital expenditure (assets used in the business). Different asset classes have different rates — buildings at 15%, plant and machinery at 25%, motor vehicles at 25%, furniture at 20%, etc.
4. Evidence of Tax Paid
Bank receipts, e-payment confirmations, or debit notes showing CIT and Development Levy payments made during the year.
5. CAC Annual Return
Proof that your company is in good standing with the Corporate Affairs Commission. The NRS increasingly cross-references this.
6. Schedule of Fixed Assets
Particularly important for companies claiming small company status — shows the cost and net book value of all property, plant, and equipment.
The Filing Process With NRS Rev360
The Nigeria Revenue Service uses the Rev360 platform for electronic filing. Here's the process:
- Register on Rev360 — create an account using your company's TIN (Tax Identification Number)
- Generate a filing reference — the system creates a unique reference for each assessment year
- Upload documents — submit audited accounts, tax computation, and supporting schedules as PDF uploads
- Complete the self-assessment form — enter your tax computation figures into the online form
- Make payment — generate a payment reference and pay via approved bank channels
- Submit — once payment clears, submit the return. You'll receive a Document ID confirming successful filing
Common issue: Rev360 can be slow during peak filing periods (May-June for December year-end companies). Don't wait until the last week. System downtime is not accepted as an excuse for late filing.
Estimated vs. Actual Returns
The NTA 2025 requires two stages of filing:
Estimated (Provisional) Return
Due at the same deadline as the actual return (6 months after year-end). This is your self-assessment — your best estimate of taxable profit and CIT liability for the year. You pay based on this estimate.
Actual (Final) Return
Filed once your audited financial statements are ready. This reconciles the estimate with actual figures. If you underpaid, you settle the balance. If you overpaid, you claim a credit or refund.
In practice, many companies file both simultaneously — submitting the estimated and actual return at the same time once audited accounts are available. This is acceptable as long as both are filed before the deadline.
Development Levy Payment
If your company does NOT qualify as a small company under Section 56, you must also pay the 4% Development Levy on assessable profits. This is:
- Computed and paid alongside CIT
- Due at the same deadline
- Reported in the same return
- Subject to the same late-payment penalties
Example: XYZ Ltd has assessable profits of ₦15,000,000 and is not a small company.
CIT (30%): ₦4,500,000
Development Levy (4%): ₦600,000
Total payment with return: ₦5,100,000
Penalties for Late Filing
Under Section 128 of the Nigeria Tax Administration Act 2025:
| Period Outstanding | Penalty |
|---|---|
| First month | ₦100,000 |
| Each subsequent month | ₦50,000 per month |
| 12 months late | ₦100,000 + (11 × ₦50,000) = ₦650,000 |
| 24 months late | ₦100,000 + (23 × ₦50,000) = ₦1,250,000 |
These penalties apply per return. If you have outstanding estimated AND actual returns, that's double penalties. If you haven't filed for 3 years, that's 6 outstanding returns — penalties can exceed ₦3 million before you've even looked at the tax itself.
Important: Late filing penalties apply regardless of whether you owe any tax. A small company paying 0% CIT still faces ₦100,000 + ₦50,000/month if it files late. The penalty is for not filing — not for not paying.
Quick Reference: CIT Filing Checklist
| Step | Action | Deadline |
|---|---|---|
| 1 | Prepare audited financial statements | Within 3-4 months of year-end |
| 2 | Compute taxable profit and CIT liability | Before filing deadline |
| 3 | Determine small company status (if applicable) | Before filing deadline |
| 4 | Calculate Development Levy (if not small) | Before filing deadline |
| 5 | Make CIT + Levy payment | Before filing deadline |
| 6 | File return on Rev360 with all documents | 6 months after year-end |
| 7 | Obtain Document ID as proof of filing | Immediately after submission |
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CIT filing isn't optional for any registered company in Nigeria — even if you owe ₦0. The process is predictable: prepare your accounts, compute the tax, pay what's owed, and submit on Rev360 before the 6-month deadline. The companies that get into trouble are the ones that ignore it. Don't let penalties accumulate for returns you could have filed showing zero liability.