Section 181 Nigeria Tax Act 2025

Section 181 of the Nigeria Tax Act 2025 is about Cancellation or discountenance of economic development tax credit. It provides as follows:

(1) The Service may, not later than six years after the cancellation of an economic development incentive certificate, withdraw or discountenance an economic development tax credit granted under this Part, except in the case of fraud where there is no limit to the time for the withdrawal of the economic development tax credit.

(2) Where an economic development tax credit is withdrawn or discountenanced under subsection (1), the Service shall, within the time prescribed under the Nigeria Tax Administration Act, 2025, issue notice of additional assessment to the company.