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Section 39 Nigeria Tax Administration Act 2025 Section 39 of the Nigeria Tax Administration Act 2025 is about Currency of assessment and payment. It provides as follows: (1) Notwithstanding the provisions of any other law, tax shall be assessed in the currency of transaction. (2) Tax, including royalty, assessed in a currency other than the…
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Section 38 Nigeria Tax Administration Act 2025 Section 38 of the Nigeria Tax Administration Act 2025 is about Deemed profit assessment or income assessment. It provides as follows: (1) Where a business produces either no assessable profit or an assessable profit which is less than expected from that business, or the true amount of the…
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Section 37 Nigeria Tax Administration Act 2025 Section 37 of the Nigeria Tax Administration Act 2025 is about Making of assessment of tax in upstream petroleum operations. It provides as follows: (1) Assessments of tax in upstream petroleum operations shall be made in a form and in such manner as the Service shall prescribe and…
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Section 36 Nigeria Tax Administration Act 2025 Section 36 of the Nigeria Tax Administration Act 2025 is about Additional assessments. It provides as follows: (1) Where the relevant tax authority discovers or is of the opinion, at any time, that any taxable person liable to tax has not been assessed or has been assessed at…
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Section 35 Nigeria Tax Administration Act 2025 Section 35 of the Nigeria Tax Administration Act 2025 is about Administrative assessments. It provides as follows: (1) Where a taxable person has not delivered a tax return as provided under this Act, and the relevant tax authority is of the opinion that such taxable person is liable…
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Section 34 Nigeria Tax Administration Act 2025 Section 34 of the Nigeria Tax Administration Act 2025 is about Self-assessment of tax payable. It provides as follows: (1) Every taxable person shall, on or before the due date, submit a self-assessment tax return with the relevant tax authority in accordance with the relevant provisions of this…
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Section 33 Nigeria Tax Administration Act 2025 Section 33 of the Nigeria Tax Administration Act 2025 is about Accreditation of tax agents. It provides as follows: (1) For the purpose of compliance with this Act or any other law, a taxpayer may either represent itself or be represented by a tax agent accredited by the…
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Section 32 Nigeria Tax Administration Act 2025 Section 32 of the Nigeria Tax Administration Act 2025 is about Return deemed to be furnished by an authorised person. It provides as follows: A return, statement or form furnished under this Act by or on behalf of any person shall for all purposes be deemed to have…
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Section 31 Nigeria Tax Administration Act 2025 Section 31 of the Nigeria Tax Administration Act 2025 is about Books of account. It provides as follows: (1) Every person, including a company granted exemption from incorporation, shall, whether or not the person is liable to pay tax, maintain books or records of accounts. (2) The books…
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Section 30 Nigeria Tax Administration Act 2025 Section 30 of the Nigeria Tax Administration Act 2025 is about Disclosure of tax planning. It provides as follows: (1) Any person who enters or intends to enter into any transaction or agreement, referred to as a disclosable transaction or agreement, whose principal purpose is a benefit which…