AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A company files its income tax return on the NRS Rev360 self-service portal within six months of its accounting year end (or within 18 months of incorporation for its first return), whether or not it owes tax. Prepare financial statements (audited, or attested accounts for a small company), a tax computation with capital allowances and your WHT credit notes, then complete the self-assessment, check the system's computation, submit and pay any balance.
The Nigeria Revenue Service (NRS), which replaced FIRS, is moving filing from TaxPro Max to a new self-service portal called Rev360. The Chartered Institute of Taxation of Nigeria (CITN) told its members in May 2026 that the NRS has released guidance and user manuals for company income tax (CIT), VAT, withholding tax and other filings on Rev360. This guide covers what you need before you log in, the order of steps and the dates. Screen names change; follow the NRS user manual for the exact clicks.
The deadline
| Company | Return due | Source |
|---|---|---|
| In business more than 18 months | Within six months after the end of the accounting year | NTAA 2025 s.11(5)(a) |
| New company, first return | Within 18 months of incorporation | PwC, reviewed 29 May 2026 |
Example only: a company with a 31 December 2025 year end files by 30 June 2026. Section 11(1) of the Nigeria Tax Administration Act 2025 requires every company to file whether or not it is liable, so a small company at 0% CIT and a loss-making company both file. More on new companies in the first-year deadline.
Documents to prepare
- Financial statements. PwC notes annual filings include audited financial statements prepared under IFRS. A small company may submit a statement of accounts attested by the taxpayer instead, under the Administration Act.
- Tax computation. Accounting profit, add-backs for disallowed items (depreciation, fines, private costs under section 21 of the Nigeria Tax Act 2025), capital allowances, losses brought forward and the resulting taxable profit.
- Capital allowance schedule. Asset additions, disposals and the allowance by class.
- Development levy computation at 4% of assessable profits, unless you are a small company (section 59).
- WHT credit notes received from customers, to set against the tax due.
- Tax ID and CAC details. CITN notes Rev360 registration is integrated with CAC and NIMC data.
Our guide on deductible business expenses helps with the add-backs.
Steps on Rev360
This is the general order. CITN's advisory says the platform uses automated data validation, tax computation and classification, and it urges users to reconcile before submitting.
- Register or log in. Use your company's Tax ID. If the company is not yet on Rev360, complete registration first; see registering on Rev360.
- Choose the CIT return for the correct year of assessment.
- Enter or upload the figures from the financial statements and computation, following the NRS CIT user manual's templates.
- Attach documents the form asks for: financial statements, computation, schedules and WHT credit notes.
- Check the system's computation. Compare the portal's figure with yours line by line. Differences usually come from a misclassified expense or a missing WHT credit.
- Submit and save the acknowledgement.
- Pay the balance. Generate the payment reference the portal provides and pay through the listed channels. On TaxPro Max, filing produced a document number used to pay; confirm how Rev360 links the payment to the return.
- Keep everything for at least six years (section 31).
Filing through an accountant
Section 33(3) of the Nigeria Tax Administration Act 2025 says a return is only duly filed when it is filed by the taxpayer or an accredited tax agent. If your accountant files for you, confirm they are accredited and that the return appears under your company's Tax ID. Ask for the acknowledgement in your own name, not just an email saying it is done.
Common reasons a return is queried
- Turnover on the return does not match the VAT returns filed for the same months.
- WHT credits claimed without the matching receipts from customers.
- Depreciation left in the computation instead of capital allowances.
- A small company claiming 0% CIT while its turnover or fixed assets exceed the limits, or while it sells professional services.
- Accounts filed for the wrong period or year of assessment.
- Development levy left off by a company that is not small.
Worked example: the payment line
Example only. A company that is not small has taxable profit of ₦20,000,000 and holds ₦900,000 of WHT credit notes.
- CIT at 30%: ₦6,000,000.
- Less WHT credits: ₦900,000. CIT payable: ₦5,100,000.
- Development levy at 4% (assuming assessable profit of ₦20,000,000): ₦800,000.
- Total to pay with the return: ₦5,900,000.
Penalties
| Failure | Penalty | NTAA 2025 |
|---|---|---|
| Late return | ₦100,000 first month + ₦50,000 each further month | s.101 |
| Late payment | 10% of unpaid tax plus interest | s.65 |
| Books not kept | ₦50,000 for a company | s.102 |
Where Pryme fits
The Finance agent on a Pryme Business Account can collect WHT credit notes and prepare transaction summaries for your accountant, and the Compliance agent keeps the six-month date in view. A person approves anything above a set ceiling, and actions are recorded.
Questions people ask
When is company income tax due in Nigeria?
Within six months after the end of the accounting year under section 11(5)(a) of the Nigeria Tax Administration Act 2025; a new company's first return is due within 18 months of incorporation.
Is Rev360 replacing TaxPro Max?
Yes. The NRS has introduced the Rev360 self-service portal for registration and filing, and CITN's May 2026 advisory points members to its user manuals.
Does a small company need audited accounts for its tax return?
No. The Administration Act lets a small company submit a statement of accounts attested by the taxpayer instead.
Can I file a company tax return without paying?
You can file first, but unpaid tax attracts 10% and interest under section 65, so pay the balance by the due date.
Sources
- CITN Member Advisory: Guidance on the Rev360 tax administration platform (May 2026) · accessed Oct 2026
- Nigeria Tax Administration Act 2025 (gazette copy) · accessed Oct 2026
- PwC Worldwide Tax Summaries: Nigeria, corporate tax administration (reviewed 29 May 2026) · accessed Oct 2026
- Nigeria Tax Act 2025 (assented 26 Jun 2025), sections 8, 20, 21, 55, 56 and 59 · accessed Oct 2026
- CITN: TaxPro Max filing requirements and procedures (2021, previous portal) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.