Section 43 Nigeria Tax Administration Act 2025

Section 43 of the Nigeria Tax Administration Act 2025 is about Assessments to be final and conclusive. It provides as follows:

(1) Where –
(a) no valid objection or appeal has been lodged within the time stipulated under this Act, against an assessment as regards the amount of the total income or profits assessed ;

(b) the amount of the total income or profits has been agreed to under section 41 (5) of this Act ;
(c) the amount of such total profits has been determined on objection or revised under the provision of section 41 (5) of this Act ; or

(d) the assessment as made, has been agreed to, revised or determined on appeal ;
such assessment shall be final and conclusive for all purposes of this Act as regards the amount of such total profits.

(2) Where the full amount of tax in respect of any final and conclusive assessment is not paid within the period prescribed in this Act, the provisions relating to the recovery of tax and to any penalty under sections 65 and 67 of
this Act, shall apply to the collection and recovery.

(3) The provision of subsection (2) shall be subject only to the set-off of the amount of any tax repayable under any claim, made under the relevant provisions of this Act which has been agreed to by the relevant tax authority or determined on any appeal against a refusal to admit any such claim.

(4) The provisions of section 41 of this Act shall not prevent the tax authority from making any assessment or additional assessment for any year which does not involve re-opening any issue on the same facts, which has been determined for that year of assessment under section 41(5) of this Act by agreement or on appeal.