PayPit FAQ — Nigerian Tax Compliance

Question 1

Is PayPit fully compliant with FIRS?

Accepted Answer

Absolutely. PayPit is architected specifically around the Personal Income Tax Act (PITA), the Nigeria Tax Act 2025 (effective 1 January 2026), and all intervening Finance Acts. We maintain direct relationships with tax consultants to ensure every calculation is legally sound for both Federal and State (SIRS) requirements.

Question 2

What changed with the Nigeria Tax Act 2025?

Accepted Answer

The Nigeria Tax Act 2025, effective 1 January 2026, introduces new progressive income-tax bands (0 % on the first ₦800,000), replaces the Consolidated Relief Allowance with a Rent Relief (20 % of annual rent, capped at ₦500,000), and merges capital gains into the general progressive rate schedule. PayPit automatically selects the correct regime based on your tax year — NTA 2025 for 2026 onwards, legacy PITA Sixth Schedule for 2025 and earlier.

Question 3

Can I ask questions about my spending (e.g. food in 2026)?

Accepted Answer

We are building an in-app assistant so you can ask plain-language questions about categorized spend and tax-relevant totals — for example, “How much did I spend on food last year?” — on top of your linked bank data. It will roll out after core filing flows are stable.

Question 4

How are capital gains taxed under the NTA 2025?

Accepted Answer

For tax year 2025 and earlier, many digital-asset and capital gains were often assessed under Finance Act rules (including a separate CGT-style treatment where applicable). From 2026 under the Nigeria Tax Act 2025, capital gains are generally merged into your progressive income-tax computation. PayPit applies the correct regime for the year you select.

Question 5

What security measures protect my data?

Accepted Answer

Security is our primary directive. We use bank-grade AES-256 encryption for all data at rest and TLS for data in transit. We use OAuth for bank integrations via Mono, meaning we never see or store your bank passwords.

Question 6

Are there custom plans for high-earners?

Accepted Answer

Yes, our Private Client tier offers 1-on-1 consultations with tax experts and dedicated filing assistants for individuals earning above ₦25M per annum.

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