Section 34 Nigeria Tax Administration Act 2025

Section 34 of the Nigeria Tax Administration Act 2025 is about Self-assessment of tax payable. It provides as follows:

(1) Every taxable person shall, on or before the due date, submit a self-assessment tax return with the relevant tax authority in accordance with the relevant provisions of this Act.

(2) A taxable person who has submitted a self-assessment return in the prescribed form for a reporting period is deemed to have made an assessment of the amount of tax payable, including a negative or nil amount, for the reporting period to which the return relates.

(3) A tax return in the approved form completed and submitted electronically by a taxable person is a self-assessment notwithstanding that –
(a) the form contains pre-entered information supplied by the tax authority ; and
(b) an estimate of the tax payable is computed electronically as information is being entered into the form.

(4) Where a taxable person has delivered a tax return, under subsection
(1), the relevant tax authority may –
(a) accept the tax return without making an additional assessment ;
(b) accept the tax return and make additional assessment ; or
(c) reject the tax return and, to the best of its judgement, determine the amount of the tax due from the taxable person and make an assessment accordingly.

(5) Where the taxable person fails to declare the true and correct amount of income or tax payable in its self-assessed tax returns, the taxable person is liable to pay any outstanding tax from the due date of the returns.

(6) The outstanding tax shall be subject to penalty and interest, in accordance with the provisions of this Act or other relevant tax law from the date the return becomes due.

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