Section 30 Nigeria Tax Administration Act 2025

Section 30 of the Nigeria Tax Administration Act 2025 is about Disclosure of tax planning. It provides as follows:

(1) Any person who enters or intends to enter into any transaction or agreement, referred to as a disclosable transaction or agreement, whose principal purpose is a benefit which enables, or might be expected to enable, such a person to obtain a tax advantage, shall without notice or request, provide to the relevant tax authority, information relating to that disclosable transaction or agreement.

(2) The relevant tax authority may make regulations specifying –
(a) the information to be provided by a person in relation to a disclosable transaction or agreement ;
(b) the form and manner of delivery of that information to the relevant tax authority ;

(c) the period of time within which the information referred to in subsection (1) shall be provided to the relevant tax authority ; and
(d) administrative penalties for non-disclosure, false disclosure, incomplete disclosure or late disclosure.

(3) In this section –
“tax advantage” means :
(a) a relief or increased relief from tax ;
(b) repayment or increased repayment of tax ;
(c) avoidance or reduction of a charge to tax or an assessment to tax ;

(d) avoidance of a possible assessment to tax ;
(e) deferral of a payment of tax or advancement of a repayment of tax ; or

(f) avoidance of an obligation to deduct or account for tax ; and
“transaction” includes course of action, agreement, scheme or arrangement.

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