Section 150 Nigeria Tax Act 2025 Section 150 of the Nigeria Tax Act 2025 is about Value of imported taxable supply. It provides as follows: The value of imported taxable supply for the purposes of Chapter Six of this Act shall be the amount which is equal to the price of the taxable supply imported…

Section 149 Nigeria Tax Act 2025 Section 149 of the Nigeria Tax Act 2025 is about Value of taxable supplies. It provides as follows: (1) For the purposes of Chapter Six of this Act, the value of taxablesupplies shall be determined as follows, where the supply is – (a) for a money consideration, its value…

Section 148 Nigeria Tax Act 2025 Section 148 of the Nigeria Tax Act 2025 is about Rate of VAT. It provides as follows: Subject to the provisions of Part IV of Chapter Eight of this Act, VAT shall be charged on the value of all taxable supplies at the rate of 7.5%.

Section 147 Nigeria Tax Act 2025 Section 147 of the Nigeria Tax Act 2025 is about Time of supply. It provides as follows: (1) For the purposes of Chapter Six of this Act, a taxable supply shall be deemed to take place at the time an invoice or receipt is issued by the supplier, or…

Section 146 Nigeria Tax Act 2025 Section 146 of the Nigeria Tax Act 2025 is about Taxable supplies. It provides as follows: A taxable supply shall be deemed to take place in Nigeria where, in respect of –(a) goods –(i) the goods are physically present, imported into, assembled or installed in Nigeria at the time…

Section 145 Nigeria Tax Act 2025 Section 145 of the Nigeria Tax Act 2025 is about Charge of VAT. It provides as follows: Subject to the exemptions in Part IV of Chapter Eight of this Act, VAT shall be paid on all taxable supplies in Nigeria.

Section 144 Nigeria Tax Act 2025 Section 144 of the Nigeria Tax Act 2025 is about Imposition of value added tax. It provides as follows: Value Added Tax (VAT) is imposed in accordance with the provisions of Chapter Six of this Act.

Section 143 Nigeria Tax Act 2025 Section 143 of the Nigeria Tax Act 2025 is about Provisions on non-monetary consideration. It provides as follows: Where an instrument chargeable with ad valorem duty consists of non-monetary consideration, the value shall be deemed as the market value of the consideration or part thereof.

Section 142 Nigeria Tax Act 2025 Section 142 of the Nigeria Tax Act 2025 is about Duty relating to multiple instruments covering same transaction. It provides as follows: (1) Where multiple instruments chargeable with advalorem duties are executed for effecting the same transaction, only one of the instruments, as may be determined by the relevant…

Section 141 Nigeria Tax Act 2025 Section 141 of the Nigeria Tax Act 2025 is about Duty relating to one instrument covering multiple transactions. It provides as follows: Where an instrument contains or relates to more than one transaction or several distinct matters, each transaction or distinct matter shall be charged to duty separately.