Section 54 Nigeria Tax Administration Act 2025

Section 54 of the Nigeria Tax Administration Act 2025 is about Avoidance by transfer by companies engaged in petroleum operations. It provides as follows:

Where a company which is or was engaged in petroleum operations transfers a substantial part of its assets to any person without having paid any tax assessed or chargeable upon the company, for any accounting period ending prior to such transfer and in the opinion of the service one reason for such transfer by the company was to avoid payment of such tax then that tax as charged upon the company may be sued for and recovered from that person in a manner similar to a suit for any other tax under section 67 of this Act.