Section 55 Nigeria Tax Administration Act 2025 Section 55 of the Nigeria Tax Administration Act 2025 is about Tax refund. It provides as follows: (1) There shall be refunded to taxpayers, after an audit by the relevant tax authority, such overpayment or any excess of tax as is due. (2) The relevant tax authority may…

Section 54 Nigeria Tax Administration Act 2025 Section 54 of the Nigeria Tax Administration Act 2025 is about Avoidance by transfer by companies engaged in petroleum operations. It provides as follows: Where a company which is or was engaged in petroleum operations transfers a substantial part of its assets to any person without having paid…

Section 53 Nigeria Tax Administration Act 2025 Section 53 of the Nigeria Tax Administration Act 2025 is about Company wound-up. It provides as follows: (1) Where a company is being wound up, the liquidator of the company shall not distribute any of the assets of the company to the shareholders unless provision has been made…

Section 52 Nigeria Tax Administration Act 2025 Section 52 of the Nigeria Tax Administration Act 2025 is about Indemnification of manager or agent. It provides as follows: A person answerable for payment of tax on behalf of a taxable person – (a) may retain out of any money received on behalf of the taxable person…

Section 51 Nigeria Tax Administration Act 2025 Section 51 of the Nigeria Tax Administration Act 2025 is about Deduction at source. It provides as follows: (1) Where any payment is made to a person, the person making the payment shall, at the date when payment is made or otherwise settled, deduct the tax at the…

Section 50 Nigeria Tax Administration Act 2025 Section 50 of the Nigeria Tax Administration Act 2025 is about Payment of tax for companies engaged in upstream petroleum operations and midstream liquefied natural gas operations. It provides as follows: (1) Without prejudice to section 16 of this Act, the tax due for any accounting period shall…

Section 49 Nigeria Tax Administration Act 2025 Section 49 of the Nigeria Tax Administration Act 2025 is about Payment of tax. It provides as follows: (1) Subject to section 11 of this Act and without prejudice to any other provision of this Act, every person shall make payment of tax due on or before the…

Section 48 Nigeria Tax Administration Act 2025 Section 48 of the Nigeria Tax Administration Act 2025 is about Exchange of information and joint audit. It provides as follows: (1) The relevant tax authority shall exchange relevant information with each other for ensuring compliance with the provisions of this Act. (2) Where any tax authority discovers…

Section 47 Nigeria Tax Administration Act 2025 Section 47 of the Nigeria Tax Administration Act 2025 is about Prohibited tax avoidance arrangement. It provides as follows: (1) The relevant tax authority may counteract a prohibited tax avoidance arrangement by way of adjustments, disregarding, or recharacterising the arrangement through an assessment, the modification of an assessment,…

Section 46 Nigeria Tax Administration Act 2025 Section 46 of the Nigeria Tax Administration Act 2025 is about Artificial transactions. It provides as follows: (1) Where a relevant tax authority is of the opinion that any disposition is not in fact given effect to or that any transaction which reduces or would reduce the amount…