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

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collection of any tax. (2) Any company or person in whose name the company is assessed who without lawful justification or excuse, the proof whereof shall lie on the company or such person assessed, fails to pay the tax within the period of one month prescribed in subsection (1)(b) of this section, shall be guilty of an offence. (3) The Board may, for any good cause shown, remit the whole or any part of the penalty due under subsection (1) of this section. Collection of tax after determination of objection or appeal Suit for tax by the Board. Relief in respect of error or mistake 44. Where payment of tax in whole or in part has been held over pending the result of the notice of objection or of appeal, the tax outstanding under the assessment as determined on such objection or appeal as the case may be shall be payable forthwith as to any part thereof in proceedings stayed pending such determination and as to the balance thereof within one month from the date of service on the company assessed, or on the person in whose name the company is assessed, of the notification of the tax payable, and if such balance is not paid within such period the provisions of section 39 of this Act shall apply. 45. (1) Tax may be sued for and recovered in a court of competent jurisdiction at the place at which payment should be made, by the Board in its official name with full costs of suit from the company assessed to such tax or from the person in whose name the company is assessed to such tax as a debt due to the Government of the Federation. (2) For the purposes of this section, a court of competent jurisdiction shall include a magistrate's court, which court is hereby invested with the necessary jurisdiction, if the amount claimed in any suit does not exceed the amount of the jurisdiction of the magistrate concerned with respect to personal suits. (3) In any suit under subsection (1) of this section the production of a certificate signed by any person duly authorised by the Board giving the name and address of the defendant and the amount of tax due by the defendant shall be sufficient evidence of the amount so due and sufficient authority for the court to give judgment for the said amount. 46. (1) If any person who has paid tax for any accounting period alleges that any assessment, made upon him or in his name for that period, was excessive by reason of some error or mistake in the accounts, particulars or other written information supplied by him to the Board for the purpose of the assessment, such person may at any time, not later than six years after the end of the accounting period in respect of which the assessment was made, make an application in writing to the Board for Annotation 18 - 456 -
elief. (2) On receiving any such application the Board shall inquire into the matter and subject to the provisions of this section shall by way of repayment of tax give such relief in respect of the error or mistake as appears to the Board to be reasonable and just. (3) No relief shall be given under this section in respect of an error or mistake as to the basis on which the liability of the applicant ought to have been computed where such accounts, particulars or information was in fact made or given on the basis or in accordance with the practice of the Board generally prevailing at the time when such accounts, particulars or information was made or given. (4) In determining any application under this section the Board shall have regard to all the relevant circumstances of the case, and in particular shall consider whether the granting of relief would result in the exclusion from charge to tax of any part of the chargeable profits of the applicant, and for this purpose the Board may take into consideration the liability of the applicant and assessments made upon him in respect of other years. (5) No appeal shall lie from a determination of the Board under this section, which determination shall be final arid conclusive. Repayment of tax 47. (1) Save as is otherwise in this Act expressly provided, no claim for the repayment of any tax overpaid shall be allowed unless it is made in writing within six years next after the end of the accounting period to which it relates and if the Board disputes any such claim it shall give to the claimant notice of refusal to admit the claim and the provisions of sections 34 and 35 of this Act shall apply with any necessary modifications. (2) The Board shall give a certificate of the amount of any tax to be repaid under any of the provisions of this Act or under any order of a court of competent jurisdiction and upon the receipt of the certificate, the Accountant-General of the Federation shall cause repayment to be made in conformity therewith. Part X - Offences And Penalties Penalty for offences 1973 No. 15 48. (1) Any person guilty of an offence against this Act or of any rule made thereunder for which no other penalty is specifically provided, shall be liable to a fine of ten thousand naira, and where such offence is - 457 -
Page 1 and 2: PETROLEUM PROFITS TAX ACT ARRANGEME
Page 3 and 4: 54. Saving for criminal proceedings
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: estimated to be chargeable for such
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

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

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