Section 118 Nigeria Tax Act 2025

Section 118 of the Nigeria Tax Act 2025 is about Administration of royalties. It provides as follows:

(1) The Service shall administer royalties payable under this Act in accordance with the provisions of the Nigeria Tax Administration Act, 2025.

(2) Notwithstanding any other provision of this Act and any other law the Commission shall account for all royalties due within the ten-year period immediately preceding the commencement of this Act and the Service shall have the authority to verify the records provided.