Nigeria: Tax preparation time
* indicates monthly or quarterly data series
| Nigeria |
Tax preparation time, in hours |
|---|---|
| Latest value | 343 |
| Year | 2019 |
| Measure | hours |
| Data availability | 2013 - 2019 |
| Average | 395 |
| Min - Max | 343 - 429 |
| Source | The World Bank (doing business survey) |
The latest value from 2019 is 343 hours, a decline from 347 hours in 2018. In comparison, the world average is 235 hours, based on data from 184 countries. Historically, the average for Nigeria from 2013 to 2019 is 395 hours. The minimum value, 343 hours, was reached in 2019 while the maximum of 429 hours was recorded in 2013.
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Definition: Time to prepare and pay taxes is the time, in hours per year, it takes to prepare, file, and pay (or withhold) three major types of taxes: the corporate income tax, the value added or sales tax, and labor taxes, including payroll taxes and social security contributions.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Fiscal balance, percent of GDP | -1.57 | 2024 | percent |
| Primary budget balance | 0.90 | 2024 | percent |
| Government expenditure | 2,734.64 | Q4/2023 | billion |
| Commercial tax rate | 34.80 | 2019 | percent |
| Tax preparation time | 343 | 2019 | hours |
| Foreign aid | 3,596.40 | 2023 | million U.S. dollars |
| Government debt | 39.33 | 2024 | percent |
| Government debt in foreign currency, percent | 33.98 | 2019 | percent |
| Government debt held by non-residents | 33.98 | 2019 | percent |
| Sovereign debt average maturity | 8.72 | 2024 | percent |
| Short-term government debt | 10.25 | 2024 | percent |