Section 102 Nigeria Tax Administration Act 2025

Section 102 of the Nigeria Tax Administration Act 2025 is about Failure to keep books. It provides as follows:

A taxable person who –
(a) fails to keep accounts, books and records of business transactions and income, to allow for the correct ascertainment of tax and filing of returns to the relevant tax authority ; or

(b) upon request by the relevant tax authority, fails to provide any record or book prescribed in this Act shall be liable to pay an administrative penalty in the case of –
(i) a person other than a company, 10,000, and
(ii) a company, 50,000.