Section 53 Nigeria Tax Administration Act 2025

Section 53 of the Nigeria Tax Administration Act 2025 is about Company wound-up. It provides as follows:

(1) Where a company is being wound up, the liquidator of the company shall not distribute any of the assets of the company to the shareholders unless provision has been made for the payment in full of any tax which may be found payable by the company, including any tax deductions made by the company under any law in effect in any part of Nigeria.

(2) Where tax is not paid in accordance with the provision of this section or any other law, the liquidator shall be personally liable.