Nigeria

{"ftc_utility":"medium","fbar_trigger_notes":"Expats working in Nigeria typically hold naira accounts with local banks such as GTBank, Zenith, or Access Bank. A single account regularly exceeding the USD 10,000 equivalent triggers FBAR filing. The naira has experienced significant devaluation; account balances should be converted at the applicable year-end exchange rate for FBAR purposes.","ftc_utility_reason":"Nigeria taxes residents on worldwide income at rates up to 24%. US expats paying Nigerian PIT can claim Foreign Tax Credits against their US tax liability on the same income. The FTC is useful for high earners whose Nigerian tax exceeds the FEIE exclusion amount or who have income beyond the exclusion cap (USD 126,500 for 2024). For lower earners who fully exclude income via FEIE, FTC utility is lower. Withholding taxes on dividends (10%) also generate creditable taxes.","presence_day_count_notes":"Nigeria does not issue a standard long-term expat visa in the same structure as EU countries. Most US expats enter on a Subject to Regularization (STR) permit or Combined Expatriate Residence Permit and Aliens Card (CERPAC). Days spent in Nigeria count toward the 330-day physical presence test. Travel outside Nigeria for rest, medical care, or business does not break the test if within IRS guidelines. Security conditions in some regions may necessitate travel interruptions that could affect day counts.","typical_qualifying_method":"either","housing_exclusion_available":true,"physical_presence_test_applies":true,"estimated_housing_exclusion_usd":36000,"local_tax_rate_on_earned_income":0.24,"bona_fide_residence_test_applies":true}

{"pension_income":{"notes":"Foreign pension income received by a Nigerian tax resident is subject to PIT at progressive rates up to 24%. Nigerian-sourced pension income under the Pension Reform Act 2014 has specific tax treatment - voluntary contributions are tax-deductible and withdrawals after age 50 may be partially exempt, but foreign pensions do not benefit from these provisions.","tax_rate":0.24,"locally_taxed":true},"social_security":{"notes":"No US-Nigeria totalization or income tax treaty. US Social Security benefits received by a Nigerian tax resident are technically foreign income subject to Nigerian PIT. Enforcement for foreign pension income in practice is limited, but no formal exemption exists.","locally_taxed":true,"treaty_protection":false},"roth_distributions":{"notes":"No US-Nigeria tax treaty exists. Roth distributions are generally return of after-tax contributions and, under PITA, amounts that are not income in the traditional sense may not be taxed, but this is not codified specifically for Roth accounts. US expats should document the basis component carefully. Practical enforcement is limited but the legal position is uncertain.","locally_taxed":false},"us_401k_ira_distributions":{"notes":"There is no US-Nigeria income tax treaty. US 401k and IRA distributions received by a Nigerian tax resident would be treated as foreign-source income and subject to Nigerian Personal Income Tax Act (PITA) at progressive rates up to 24%. Residency-based taxation applies to worldwide income for Nigerian residents.","tax_rate":0.24,"locally_taxed":true,"treaty_protection":false}}

{"rate":0.1,"notes":"Nigeria levies Capital Gains Tax at a flat 10% on chargeable gains from disposal of assets. Gains on Nigerian government securities and shares traded on the Nigerian Stock Exchange are exempt.","details":{"tax_type":"Capital Gains Tax","country_name":"Nigeria","country_iso_code":"NGA","source_references":["PwC Worldwide Tax Summaries - Nigeria","Federal Inland Revenue Service (FIRS) Nigeria","Capital Gains Tax Act Cap C1 LFN 2004"],"last_verified_date":"2026-06-03","general_description":"Capital Gains Tax (CGT) is governed by the Capital Gains Tax Act. A flat 10% rate applies to chargeable gains realized by individuals and companies. Gains on disposal of Nigerian government bonds, stocks and shares listed on the Nigerian Exchange Group (NGX), and compensation for personal injuries are exempt. Real property gains are chargeable at 10%.","corporate_capital_gains":{"rate":0.1,"tax_treatment":"Flat 10% CGT applies to companies. Gains on NGX-listed shares and government securities are exempt. Companies file CGT separately from corporate income tax."},"individual_capital_gains":{"rate":0.1,"tax_treatment":"Flat 10% on chargeable gains for individuals. Gains on NGX-listed shares, Nigerian government securities, and compensation for personal injury are exempt. No indexation relief is formally available."}}}

{"notes":"Dividends paid by Nigerian companies are subject to a 10% withholding tax (WHT), which is a final tax for individuals. Under the Finance Act 2021, dividends paid from petroleum profits are subject to WHT at 10%. No further personal income tax is payable on amounts already subjected to WHT as a final tax.","rates":[{"rate":0.1,"type":"withholding","notes":"Standard WHT rate on dividends paid by Nigerian resident companies; final tax for individual recipients."},{"rate":0.1,"type":"withholding","notes":"WHT on dividends from petroleum profits under Finance Act 2021."}]}