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The Nigeria Tax Administration Act 2025 has standardized the fines for late tax filing to make them more punitive. If you are a business owner in 2026, missing your filing window is an expensive mistake that compounds every 30 days.
The New Penalty Structure
Whether you are filing for Company Income Tax (CIT) or Value Added Tax (VAT), the rates are now uniform:
- Month 1: ₦100,000 flat fine.
- Subsequent Months: ₦50,000 for every month the default continues.
Note: These fines apply even if you are filing a Nil Return. If your company is dormant, you must still file on time to avoid these charges. Interest also accrues at the CBN Monetary Policy Rate (MPR) plus 5%. To stop the clock, see our guide on how to check your compliance status. For official payment details, visit TaxPro Max or NRS (formerly FIRS).”