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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…
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Section 35 Nigeria Tax Act 2025 Section 35 of the Nigeria Tax Act 2025 is about Disposal of assets. It provides as follows: (1) For the purpose of this Act, there is a disposal of assets by a person where any sum is derived from a sale, lease, transfer, an assignment, a compulsory acquisition or…
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Section 34 Nigeria Tax Act 2025 Section 34 of the Nigeria Tax Act 2025 is about Chargeable assets. It provides as follows: (1) Subject to exemptions as may be provided in Part I of Chapter Eight of this Act, all forms of property shall be chargeable assets for the purpose of this Part, whether situated…
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Section 33 Nigeria Tax Act 2025 Section 33 of the Nigeria Tax Act 2025 is about Chargeable gains. It provides as follows: (1) Gains accruing to any person in a year of assessment shall be chargeable to tax in accordance with the provisions of this Act. (2) Gains on which tax is to be assessed…