Income Tax
Income taxation is subject to Federal government regulations defined by the economic realities of that particular area.
Single Tax
| Band |
Tax Rate |
Income Band (KPT) |
Details
|
| Tax Free |
0% |
Under 12,000KPT |
|
| Band I |
5% |
12,001-20,000 |
|
| Band II |
7.5% |
21,001-30,000 |
|
| Band III |
10% |
31,001-40,000 |
|
| Band IV |
15% |
41,001-50,000 |
1000KPT plus 15% of the amount over 41,001KPT
|
| Band V |
20% |
Above 51,001 |
2000KPT plus 20% of the amount over 50,001KPT
|
Married Tax
| Band |
Tax Rate |
Income Band (KPT) |
Details
|
| Tax Free |
0% |
Under 15,000KPT |
|
| Band I |
7.5% |
15,001-25,000 |
250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
|
| Band II |
10% |
25,001-35,000 |
250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
|
| Band III |
15% |
35,001-45,000 |
250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
|
| Band IV |
20% |
45,001-55,000 |
1000KPT plus 15% of the amount over 45,001KPT plus 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
|
| Band V |
25% |
Above 55,001 |
2000KPT plus 20% of the amount over 55,001 plus 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
|
Corporation Tax
