Section 193 Nigeria Tax Act 2025

Section 193 of the Nigeria Tax Act 2025 is about Waivers or refund of liability or expenses. It provides as follows:

(1) Where a deduction has been allowed under the provisions of this Act in respect of any liability or any expense incurred and the liability is waived or released or such expense is refunded in whole or in part, the amount of that liability or expense which is waived, released or refunded, shall be an income
on the day of the waiver, release or refund.

(2) Where any liability or expenditure of capital nature is waived, it shall constitute a chargeable gain for the purposes of Part VIII of Chapter Two of this Act.