Section 171 Nigeria Tax Act 2025

Section 171 of the Nigeria Tax Act 2025 is about Addition of product to the economic development incentive certificate. It provides as follows:

(1) A priority company may, at any time during its incentive period, make an application in writing to the Executive Secretary of the NIPC for its economic development incentive certificate to be amended to add another
product to the priority product or products specified in the certificate.

(2) An application under this section shall specify the additional priority product and the reasons for the application and the provisions of sections 168 and 171 of this Act shall apply.

(3) An economic development incentive certificate may be extended for an additional period of five years and no more, on the condition that the priority company invests 100% of its profits during the incentive period for expansion
of the same product or products.

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