Section 45 Nigeria Tax Act 2025

Section 45 of the Nigeria Tax Act 2025 is about Valuation at market value. It provides as follows:

(1) For the purposes of computing chargeable gains, unless the context otherwise requires, market value, in relation to any asset, means the price which the asset might reasonably be expected to fetch on a sale conducted at arm’s length, or in the open market.

(2) In estimating the market value of any asset in the case of a disposal, no reduction shall be taken into account for cash or bulk discount.

(3) In determining the acquisition cost of any asset, where the actual consideration paid by the acquirer is less than the market value, the assets shall be deemed to have been acquired for the amount actually paid.

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