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Section 185 Nigeria Tax Act 2025 Section 185 of the Nigeria Tax Act 2025 is about Exemption from stamp duties. It provides as follows: The following instruments shall be exempted from stamp duties under Chapter Eight of this Act –(a) transfer of shares in Government or legislative stocks or funds of Nigeria; (b) any instrument…
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Section 184 Nigeria Tax Act 2025 Section 184 of the Nigeria Tax Act 2025 is about Interpretation. It provides as follows: In this Part – “Minister” means the Minister responsible for industry, trade and investment; “relevant authority” means the Industrial Inspectorate Department of the Federal Ministry of Industry, Trade and Investment; and “sunset” in the…
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Section 183 Nigeria Tax Act 2025 Section 183 of the Nigeria Tax Act 2025 is about Exclusion from other reliefs and transition arrangements. It provides as follows: (1) Any company granted economic development tax credit, shall not benefit from a similar tax incentive under this Act or any other law. (2) Any company granted an…
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Section 182 Nigeria Tax Act 2025 Section 182 of the Nigeria Tax Act 2025 is about Provisions for plantation industry. It provides as follows: (1) For the purposes of Chapter Two of this Act, the trade of a company which operates a plantation to which an economic development incentive certificate has been issued shall be…
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Section 181 Nigeria Tax Act 2025 Section 181 of the Nigeria Tax Act 2025 is about Cancellation or discountenance of economic development tax credit. It provides as follows: (1) The Service may, not later than six years after the cancellation of an economic development incentive certificate, withdraw or discountenance an economic development tax credit granted…
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Section 180 Nigeria Tax Act 2025 Section 180 of the Nigeria Tax Act 2025 is about Returns of profits. It provides as follows: (1) All the relevant provisions of Chapter Two of this Act and the Nigeria Tax Administration Act, 2025, including the filing of returns, shall apply to a company granted economic development incentive…
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Section 179 Nigeria Tax Act 2025 Section 179 of the Nigeria Tax Act 2025 is about Books and records for priority products. It provides as follows: (1) Where a priority company carries on a non-priority business, the company shall maintain separate records of income and books of account for each business. (2) The records of…
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Section 178 Nigeria Tax Act 2025 Section 178 of the Nigeria Tax Act 2025 is about Economic development incentive period. It provides as follows: The incentive period of a priority company shall commence on the production day of the company, and subject to sections 170, 171 and 174 of this Act, shall be for a…
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Section 177 Nigeria Tax Act 2025 Section 177 of the Nigeria Tax Act 2025 is about Economic development tax credit. It provides as follows: (1) The tax payable on the profits of a priority product or service in any year of assessment during the priority period of a company, computed in accordance with the provisions…
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Section 176 Nigeria Tax Act 2025 Section 176 of the Nigeria Tax Act 2025 is about Publication of economic development incentive certificate. It provides as follows: The NIPC shall cause to be published in the Official Gazette –(a) the name of any company to which an economic development incentive certificate has been issued and the…