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Section 135 Nigeria Tax Act 2025 Section 135 of the Nigeria Tax Act 2025 is about Leases. It provides as follows: An agreement for a lease, with respect to the letting of land or building, shall be subject to duty on grant of a lease or sublease, or the assignment of a lease, and shall…
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Section 134 Nigeria Tax Act 2025 Section 134 of the Nigeria Tax Act 2025 is about Provisions as to exchange. It provides as follows: Where there is an exchange of a real property for another, any consideration exceeding 1,000,000 or a sum equal to the annual national minimum wage, whichever is higher, shall be charged…
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Section 133 Nigeria Tax Act 2025 Section 133 of the Nigeria Tax Act 2025 is about Duty on transfer of mineral assets. It provides as follows: An agreement for the transfer of mineral assets of any kind whatsoever or interest therein, shall be charged with duty and payable as specified in the Eighth Schedule to…
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Section 132 Nigeria Tax Act 2025 Section 132 of the Nigeria Tax Act 2025 is about Conveyance in consideration of a debt. It provides as follows: Where a property is conveyed to a person in consideration, wholly or in part, of a debt due to the person, the debt shall be deemed the consideration in…
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Section 131 Nigeria Tax Act 2025 Section 131 of the Nigeria Tax Act 2025 is about Conveyance on sale. It provides as follows: Every transfer of interest or rights in real property shall be subject to duty under this section as conveyance on sale.
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Section 130 Nigeria Tax Act 2025 Section 130 of the Nigeria Tax Act 2025 is about Sale or purchase of options. It provides as follows: (1) The provisions of Chapter Five of this Act as to contract notes shall apply to any contract under which an option is given or taken to purchase or sell…
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Section 129 Nigeria Tax Act 2025 Section 129 of the Nigeria Tax Act 2025 is about Promissory Note. It provides as follows: (1) For the purposes of Chapter Five of this Act, “promissory note”includes any document or writing, except a bank note, containing a promise topay any sum of money. (2) A note promising the…
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Section 128 Nigeria Tax Act 2025 Section 128 of the Nigeria Tax Act 2025 is about Bill of exchange. It provides as follows: For the purposes of Chapter Five of this Act – “bill of exchange” includes draft, order, cheque and letter of credit, and any document or writing, except a bank note entitling or…
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Section 127 Nigeria Tax Act 2025 Section 127 of the Nigeria Tax Act 2025 is about Admissible evidence. It provides as follows: (1) Any unstamped dutiable instrument shall not be admissible in evidence in any court, judicial or arbitration proceedings, and in satisfying any evidentiary requirements unless otherwise stated by this Act. (2) Notwithstanding the…
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Section 126 Nigeria Tax Act 2025 Section 126 of the Nigeria Tax Act 2025 is about Obligation to stamp. It provides as follows: (1) Every instrument executed in Nigeria, chargeable with a duty as prescribed under Chapter Five of this Act, shall be stamped not later than 30 days after its execution by the person…