Taxable incomeGlossary
Taxable income
Taxable income is the amount PAYE rates are applied to. For an employee it is annual gross employment income minus allowable deductions…
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NSITFGlossary
NSITF
The Nigeria Social Insurance Trust Fund (NSITF) runs the Employees' Compensation Scheme under the Employees' Compensation Act 2010. The scheme compensates employees…
National Housing Fund (NHF)Glossary
National Housing Fund (NHF)
The National Housing Fund (NHF) is a contributory housing scheme set up by the NHF Act. Nigerian workers earning ₦3,000 or more…
Employment letter and offer letter templates (Nigeria)
Four employment letter samples for Nigerian employers, with the particulars the Labour Act requires within three months of starting work, and notes…
Get the templateRetirement Savings Account (RSA)Glossary
Retirement Savings Account (RSA)
A Retirement Savings Account (RSA) is the personal pension account each employee holds with a Pension Fund Administrator under the Contributory Pension…
Tax Identification Number (TIN)Glossary
Tax Identification Number (TIN)
A Tax Identification Number (TIN) is the number that identifies a taxpayer to the tax authorities in Nigeria. Employers need their own…
State Internal Revenue Service (SIRS)Glossary
State Internal Revenue Service (SIRS)
A State Internal Revenue Service (SIRS) is the tax authority of a Nigerian state. It collects PAYE from employees who are resident…
Pension Fund Administrator (PFA)Glossary
Pension Fund Administrator (PFA)
A Pension Fund Administrator (PFA) is a company licensed by the National Pension Commission (PenCom) to manage Retirement Savings Accounts and invest…
Net payGlossary
Net pay
Net pay, or take-home pay, is what an employee receives after deductions: PAYE, the employee's pension contribution, NHF where it applies, and…
Consolidated Relief Allowance (CRA)Glossary
Consolidated Relief Allowance (CRA)
The Consolidated Relief Allowance (CRA) was the main personal relief under the Personal Income Tax Act until 31 December 2025. It was…