Section 50 Nigeria Tax Act 2025 Section 50 of the Nigeria Tax Act 2025 is about Personal injury. It provides as follows: (1) Sums not exceeding 50,000,000 obtained by way of compensation or damages for any wrong or injury suffered by an individual in his person or in his profession or vocation, including compensation for…

Section 49 Nigeria Tax Act 2025 Section 49 of the Nigeria Tax Act 2025 is about Rights under policies of insurance, other than life assurance policies. It provides as follows: (1) The rights of the insured under an insurance effected in the course of a capital redemption business or industrial assurance business shall constitute an…

Section 48 Nigeria Tax Act 2025 Section 48 of the Nigeria Tax Act 2025 is about Life assurance policies. It provides as follows: (1) This section has effect in respect to any policy of assurance or contract for a deferred annuity on the life of any person. (2) Chargeable gain shall not accrue on the…

Section 47 Nigeria Tax Act 2025 Section 47 of the Nigeria Tax Act 2025 is about Indirect transfer of ownership of companies or assets. It provides as follows: Gains accruing to any person in respect of a disposal of shares by a non-resident shall be a chargeable gain under this Act where the disposal results…

Section 46 Nigeria Tax Act 2025 Section 46 of the Nigeria Tax Act 2025 is about Location of assets. It provides as follows: For the purposes of Chapter Two of this Act –(a) the situation of rights or interests, other than by way of security, in or over immovable property is that of the immovable…

Section 45 Nigeria Tax Act 2025 Section 45 of the Nigeria Tax Act 2025 is about Valuation at market value. It provides as follows: (1) For the purposes of computing chargeable gains, unless the context otherwise requires, market value, in relation to any asset, means the price which the asset might reasonably be expected to…

Section 44 Nigeria Tax Act 2025 Section 44 of the Nigeria Tax Act 2025 is about Bargains comprising two or more transactions. It provides as follows: (1) Where a single bargain comprises two or more transactions whereby assets are disposed of, those transactions shall be treated for the purposes of computing chargeable gains as a…

Section 43 Nigeria Tax Act 2025 Section 43 of the Nigeria Tax Act 2025 is about Assets lost or destroyed. It provides as follows: (1) Where an asset is lost or destroyed, and a capital sum received by way of compensation for the loss or destruction is applied within three years of receipt in acquiring…

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…

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,…