SECTION PART I.- PRELIMINARY 1. Short title 2 ... - Lexadin

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Part V.- Persons Chargeable 22. Partnerships, etc. 23. Companies not resident in Nigeria. 24. Manager of companies, etc., to be answerable. 25. Company wound up, etc. 26. Avoidance by transfer. 27. Indemnification of representative. Part VI.- Accounts and Particulars 28. Preparation and delivery of accounts and particulars. 29. Board may call for further information. 30. Power to call for returns, books, etc. 31. Returns of estimated tax. 32. Extension of periods for making returns. Part VII.- Assessments 33. Board to make assessments. 34. Additional assessments. 35. Making of assessments, etc. 36. Notice of assessment, etc. 37. Errors and defects in assessment and notice. Part VIII.- Appeals 38. Appeals to Appeal Commissioners. 39. Appeals to High Court against assessments. 40. Assessment to be final and conclusive. Part XI.- Collection, Recovery and Repayment of Tax 41. Procedure in cases where objection or appeal is pending. 42. Time within which payment is to be made. 43. Penalty for non-payment of tax and enforcement of payment. 44. Collection of tax after determination of objection or appeal. 45. Suit for tax by the Board. 46. Relief in respect of error or mistake. 47. Repayment of tax. Part X.- Offences and Penalties 48. Penalty for offences. 49. Penalty for making incorrect accounts, etc. 50. False statements and returns. 51. Penalties for offences by authorised and unauthorised persons. 52. Tax to be payable notwithstanding any proceedings for penalties. 53. Prosecution to be with the sanction of the Board. - 416 -
54. Saving for criminal proceedings. Part XI.- Miscellaneous 55. Restrictions on effect of the Income Tax Management and other Acts. 56. Double taxation arrangements with other territories. 57. Method of calculating relief to be allowed for double taxation. 58. Power to amend the First Schedule. ___________ FIRST SCHEDULE Powers or Duties to be Performed or Exercised by the Board alone ______ SECOND SCHEDULE Capital Allowances ___________ THIRD SCHEDULE ___________ FOURTH SCHEDULE ___________ - 417 -
Page 1: PETROLEUM PROFITS TAX ACT ARRANGEME
Page 5 and 6: this Act; "assessable profits" mean
Page 7 and 8: "Minister" means the Minister charg
Page 9 and 10: (e) the Board may by notice in the
Page 11 and 12: (3) No person appointed under or em
Page 13 and 14: (2) For the purposes of subsection
Page 15 and 16: (ii) all sums recovered by the comp
Page 17 and 18: e subject to the following conditio
Page 19 and 20: this Act, in computing the adjusted
Page 21 and 22: 1970 No. 22 business or the transfe
Page 23 and 24: (a) if as respects the trade or bus
Page 25 and 26: Chargeable profits and capital allo
Page 27 and 28: circumstances. mentioned in subsect
Page 29 and 30: Companies not resident in Nigeria 2
Page 31 and 32: Act, the liabilities for which were
Page 33 and 34: mentioned and the like consequences
Page 35 and 36: sickness or other reasonable cause,
Page 37 and 38: (b) the amount of the tax charged b
Page 39 and 40: (7) The onus of proving that the as
Page 41 and 42: estimated to be chargeable for such
Page 43 and 44: elief. (2) On receiving any such ap
Page 45 and 46: schedule, statement or information,
Page 47 and 48: deducted and the nature of the acti
Page 49 and 50: Method of calculating relief to be
Page 51 and 52: or include therein additional power
Page 53 and 54:
(c) capital expenditure (hereinafte
Page 55 and 56:
Sale of buildings, etc. 1979 No. 24
Page 57 and 58:
Provided that a balancing allowance
Page 59 and 60:
(2) The provisions of sub-paragraph
Page 61 and 62:
up to and including 100 metres of w
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SECTION PART I.- PRELIMINARY 1. Short title 2 ... - Lexadin

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