-
Section 203 Nigeria Tax Act 2025 Section 203 of the Nigeria Tax Act 2025 is about Citation. It provides as follows: This Act may be cited as the Nigeria Tax Act, 2025 and shall come into effect on the first day of January, 2026.
-
Section 202 Nigeria Tax Act 2025 Section 202 of the Nigeria Tax Act 2025 is about General interpretation. It provides as follows: In this Act –“accelerator” is as defined in the Nigeria Startup Act, No. 32, 2022 ; “accounting period” means a period for which accounts have been made up ;“ad valorem” means the value…
-
Section 201 Nigeria Tax Act 2025 Section 201 of the Nigeria Tax Act 2025 is about Conflict with other laws. It provides as follows: (1) Subject to the Constitution of the Federal Republic of Nigeria, this Act shall take precedence over any other law with regards to the imposition of tax, royalty, levy, surcharge on…
-
Section 200 Nigeria Tax Act 2025 Section 200 of the Nigeria Tax Act 2025 is about Exercise of powers, duties and obligations. It provides as follows: The discharge of the duties and obligations, as well as the exercise of powers and rights conferred by this Act shall, to the extent not provided in this Act,…
-
Section 199 Nigeria Tax Act 2025 Section 199 of the Nigeria Tax Act 2025 is about Savings provisions. It provides as follows: Without prejudice to the provision of section 6 of the Interpretation Act – (a) the repealed enactments specified in section 196 and the amended enactments specified in section 197 of this Act shall…
-
Section 198 Nigeria Tax Act 2025 Section 198 of the Nigeria Tax Act 2025 is about Revocation and consequential amendment of subsidiary legislation. It provides as follows: (1) The Value Added Tax Act (Modification) Order, 2021 is revoked. (2) The Companies Income Tax (Significant Economic Presence) Order, 2020 is amended by deleting paragraph 2. (3)…
-
Section 197 Nigeria Tax Act 2025 Section 197 of the Nigeria Tax Act 2025 is about Consequential amendments. It provides as follows: (1) The Petroleum Industry Act, No. 6, 2021 is amended by deleting –(a) Part I – X of Chapter Four;(b) the Fifth and Sixth Schedules; (c) paragraphs 6, 9, 10, 11 and 12,…
-
Section 196 Nigeria Tax Act 2025 Section 196 of the Nigeria Tax Act 2025 is about Repeals. It provides as follows: From the commencement of this Act, the following enactments arerepealed (repealed enactments) –(a) Capital Gains Tax Act, Cap. C1, Laws of the Federation of Nigeria, 2004; (b) Casino Act, Cap. C3, Laws of the…
-
Section 195 Nigeria Tax Act 2025 Section 195 of the Nigeria Tax Act 2025 is about Power to make regulation. It provides as follows: The Service may, with the approval of the Minister, make regulations to give effect generally to the provisions of this Act.
-
Section 194 Nigeria Tax Act 2025 Section 194 of the Nigeria Tax Act 2025 is about Supplemental. It provides as follows: (1) In this Act, references to incomes, profits or gains charged or chargeable to tax include references to profits, incomes or gains taxed or taxable by deduction at source. (2) For the purposes of…