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…

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…

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…

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…

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…

Section 125 Nigeria Tax Act 2025 Section 125 of the Nigeria Tax Act 2025 is about Manner of denoting duty. It provides as follows: (1) Duties payable on any instrument under this Part shall be paid and denoted by any of the following means –(a) tax stamps ; (b) a die ; (c) electronic or…

Section 124 Nigeria Tax Act 2025 Section 124 of the Nigeria Tax Act 2025 is about Charge of duties. It provides as follows: There is imposed duties on instruments at the rates specified in the Eighth Schedule to this Act, subject to the exemptions contained in Part III of Chapter Nine of this Act, being…

Section 123 Nigeria Tax Act 2025 Section 123 of the Nigeria Tax Act 2025 is about Interpretation. It provides as follows: For purpose of Chapter Four of this Act – “foreign tax” means any tax paid to a treaty partner and covered by anagreement with the treaty partner; “foreign profit” means a profit liable to…

Section 122 Nigeria Tax Act 2025 Section 122 of the Nigeria Tax Act 2025 is about Method of calculating relief to be allowed for double taxation. It provides as follows: (1) Relief from double taxation under an agreement referred to in section 121 of this Act shall be granted in accordance with the provisions of…

Section 121 Nigeria Tax Act 2025 Section 121 of the Nigeria Tax Act 2025 is about Double taxation agreement. It provides as follows: (1) Where the Government of the Federal Republic of Nigeria enters into an agreement with a treaty partner for the purpose of providing relief from double taxation in relation to tax imposed…