Section 170 Nigeria Tax Act 2025 Section 170 of the Nigeria Tax Act 2025 is about Terms of economic development incentive certificate. It provides as follows: (1) Every economic development incentive certificate shall be in accordance with the terms and conditions stipulated in this Part. (2) An economic development incentive certificate shall specify –(a) conditions…

Section 169 Nigeria Tax Act 2025 Section 169 of the Nigeria Tax Act 2025 is about Approval of application. It provides as follows: (1) A company whose application has been approved in line with section 168 of this Act, shall be issued an economic development incentive certificate. (2) Where a sector is removed from the…

Section 168 Nigeria Tax Act 2025 Section 168 of the Nigeria Tax Act 2025 is about Application for economic development incentive certificate. It provides as follows: (1) Subject to the provisions of this Part, every application for economic development incentive certificate shall be addressed to the ExecutiveSecretary of the Nigerian Investment Promotion Commission (NIPC), andshall…

Section 167 Nigeria Tax Act 2025 Section 167 of the Nigeria Tax Act 2025 is about Eligibility for economic development incentive certificate. It provides as follows: (1) An application for economic development incentive certificate may be made by a company incorporated in Nigeria, companies granted exemption from incorporation or by promoters of a company which…

Section 166 Nigeria Tax Act 2025 Section 166 of the Nigeria Tax Act 2025 is about Priority sectors. It provides as follows: (1) The sectors listed in the Tenth Schedule to this Act are classified as priority sectors for the purposes of economic development tax incentives. (2) The period of incentives for any priority sector…

Section 165 Nigeria Tax Act 2025 Section 165 of the Nigeria Tax Act 2025 is about Deduction for research and development. It provides as follows: (1) Notwithstanding anything contained in section 20 of this Act, for the purpose of ascertaining the profit or loss of any company for any period from any source chargeable with…

Section 164 Nigeria Tax Act 2025 Section 164 of the Nigeria Tax Act 2025 is about Deductible donations. It provides as follows: (1) Subject to the provisions of this section and notwithstandinganything contained in section 20 of this Act, for the purposes of ascertaining the profits or loss of any company for any period from…

Section 163 Nigeria Tax Act 2025 Section 163 of the Nigeria Tax Act 2025 is about Income tax exemption. It provides as follows: (1) There is exempt from tax under chapter two of this Act – (a) the profits accruing to, or gains from disposal of assets of any personbeing –(i) a statutory or registered…

Section 162 Nigeria Tax Act 2025 Section 162 of the Nigeria Tax Act 2025 is about Exemption from surcharge. It provides as follows: (1) The surcharge under this Chapter shall not apply to the following fossil fuel products –(a) clean or renewable energy products; (b) household kerosene; (c) cooking gas; and(d) compressed natural gas (CNG).…

Section 161 Nigeria Tax Act 2025 Section 161 of the Nigeria Tax Act 2025 is about Administration of the surcharge. It provides as follows: (1) The Minister may by an order issued in the Official Gazette indicate the effective date of commencement of the administration of the surcharge on fossil fuel products under this Chapter.…