CIT Return

Company Income Tax (CIT) is Nigeria's corporate income tax — 30% for large companies, graduated rates for medium and small. Finora Business computes CIT from your P&L, adjusted for the Finance Act's tax-deductible rules.

How CIT is computed

Finora Business applies the standard Nigerian CIT logic:

1. Start with net profit from the P&L.
2. Add back non-deductible expenses (entertainment over limits, donations exceeding 10% of profit, etc.).
3. Subtract capital allowances on fixed assets.
4. Apply the appropriate CIT rate:
   • Small company (turnover ≤ ₦25M): 0%
   • Medium company (₦25M–₦100M): 20%
   • Large company (> ₦100M): 30%

Reading the data today

• GET /v1/reports/profit-loss — net profit
• GET /v1/fixed-assets — capital allowance base
• GET /v1/tax/summary — pre-computed annual tax summary including CIT estimate

Filing workflow

CIT is filed annually, 6 months after the end of your financial year (FYE). For most Nigerian businesses on a calendar FYE, that's by 30 June.

1. Close the financial year in Finora Business.
2. Run the Year-End Close (dashboard workflow).
3. [Dashboard] Generate the CIT computation.
4. Review with your tax advisor.
5. File on the FIRS e-filing portal and pay the computed CIT.

What's coming

Planned endpoints:

• POST /v1/documents/cit-computation/pdf — CIT computation worksheet
• POST /v1/documents/cit-return/pdf — FIRS-format CIT return
• GET /v1/tax/cit — real-time CIT estimate for the current financial year

Related endpoints

• Reports
• Tax & Compliance
• Fixed Assets