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Section 45 Nigeria Tax Act 2025 Section 45 of the Nigeria Tax Act 2025 is about Valuation at market value. It provides as follows: (1) For the purposes of computing chargeable gains, unless the context otherwise requires, market value, in relation to any asset, means the price which the asset might reasonably be expected to…
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Section 44 Nigeria Tax Act 2025 Section 44 of the Nigeria Tax Act 2025 is about Bargains comprising two or more transactions. It provides as follows: (1) Where a single bargain comprises two or more transactions whereby assets are disposed of, those transactions shall be treated for the purposes of computing chargeable gains as a…
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Section 43 Nigeria Tax Act 2025 Section 43 of the Nigeria Tax Act 2025 is about Assets lost or destroyed. It provides as follows: (1) Where an asset is lost or destroyed, and a capital sum received by way of compensation for the loss or destruction is applied within three years of receipt in acquiring…
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Section 42 Nigeria Tax Act 2025 Section 42 of the Nigeria Tax Act 2025 is about Consideration due after time of disposal. It provides as follows: (1) Where the consideration or part of a consideration, taken into account in the computation of chargeable gains under section 39 of this Act, is payable by instalments over…
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Section 41 Nigeria Tax Act 2025 Section 41 of the Nigeria Tax Act 2025 is about Part disposal. It provides as follows: (1) Where a part of an asset is disposed or where some property derived from an asset remains undisposed after a disposal of the asset – (a) the acquisition cost of the assets,…
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Section 40 Nigeria Tax Act 2025 Section 40 of the Nigeria Tax Act 2025 is about Expenses incurred for disposal of chargeable assets. It provides as follows: Any incidental cost incurred wholly and exclusively for the purpose of disposal of a chargeable asset is deductible from the disposal proceeds for the purposes of determining the…
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Section 39 Nigeria Tax Act 2025 Section 39 of the Nigeria Tax Act 2025 is about Computation of chargeable gains. It provides as follows: The gains chargeable to tax shall, subject to other provisions of this Act, be computed as follows – (a) in the case of a disposal of an asset used for a…
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Section 38 Nigeria Tax Act 2025 Section 38 of the Nigeria Tax Act 2025 is about Date of acquisition or disposal. It provides as follows: Any asset acquired or disposed of by a person chargeable to tax shall, be deemed to have been acquired or disposed of at the date at which there is an…
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Section 37 Nigeria Tax Act 2025 Section 37 of the Nigeria Tax Act 2025 is about Compulsory acquisition of land. It provides as follows: (1) A person shall not be charged to tax under this Act in respect of gains on any acquisition and disposal of land by reference to a disposal to an authority…
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Section 36 Nigeria Tax Act 2025 Section 36 of the Nigeria Tax Act 2025 is about Disposal of assets, provisions as to considerations. It provides as follows: (1) Subject to the provisions of this Act, the acquisition and disposal of an asset by a person shall be deemed to be for a consideration equal to…