Nigeria Tax Act 2025, section by section
All 202 sections of the Act, word for word from the Official Gazette, each with its Chapter and Part.
Act No. 7 of 2025, assented to on 26 June 2025 and in force from 1 January 2026.
Guides to the main taxes
Plain-English guides, each with the sections of the Act quoted word for word.
Company income tax30% rate, 0% for small companies, the 15% floor, deductions and filing.Development levyThe 4% levy on company profits and how it is shared.Fossil fuel surchargeThe 5% surcharge, its start rule and what is exempt.Stamp dutyMain rates, who pays, the 30-day rule and exemptions.Personal income taxRate bands, reliefs, rent relief and what is exempt.Withholding taxRates, when it is final and how to remit it.VAT7.5% rate, zero-rated and exempt supplies, input VAT.
The 14 Schedules
First ScheduleCapital allowanceSecond ScheduleExport processing and free trade zone entitiesThird ScheduleDeductible interestFourth ScheduleIndividuals' income tax ratesFifth ScheduleIncome from settlements, trusts and estatesSixth ScheduleProduction allowances and cost price ratio limitSeventh SchedulePetroleum royaltyEighth ScheduleSolid minerals royaltyNinth ScheduleDutiable instruments (stamp duty rates)Tenth ScheduleEconomic development incentive: priority sectorsEleventh ScheduleItems on which tax is suspended under section 185Twelfth ScheduleDetermination of residenceThirteenth ScheduleExemption for agricultural businessFourteenth ScheduleDefence and Security Infrastructure Fund
Sections of the Nigeria Tax Act 2025
- 1ObjectiveChapter 1
- 2ApplicationChapter 1
- 3Imposition of TaxChapter 2
- 4Income, profits or gains chargeable to taxChapter 2
- 5Chargeability to taxChapter 2
- 6Nigerian CompanyChapter 2
- 7Nigerian dividendsChapter 2
- 8Profits of a company from certain dividendsChapter 2
- 9Substitution of dividend for total profitChapter 2
- 10Certain undistributed profits may be treated as distributedChapter 2
- 11Partnership of CompaniesChapter 2
- 12Resident individualChapter 2
- 13Employment incomeChapter 2
- 14Benefits-in-kindChapter 2
- 15Partnership of individualsChapter 2
- 16Settlements, trusts and estatesChapter 2
- 17Non-resident personChapter 2
- 18Non-resident person engaged in shipping or air transportChapter 2
- 19Nigerian dividends received by non-resident personsChapter 2
- 20Deductions allowedChapter 2
- 21Deductions not allowedChapter 2
- 22Basis for computing assessable profits for trade or businessChapter 2
- 23Change in accounting dateChapter 2
- 24Cessation of trade or businessChapter 2
- 25Continuity of tradesChapter 2
- 26Basis for computing assessable incomeChapter 2
- 27Ascertainment of total profits of companiesChapter 2
- 28Total income of an individualChapter 2
- 29Presumptive taxationChapter 2
- 30Ascertainment of chargeable income of individualsChapter 2
- 31Deductions to be claimedChapter 2
- 32Proof of claimsChapter 2
- 33Chargeable gainsChapter 2
- 34Chargeable assetsChapter 2
- 35Disposal of assetsChapter 2
- 36Disposal of assets, provisions as to considerationsChapter 2
- 37Compulsory acquisition of landChapter 2
- 38Date of acquisition or disposalChapter 2
- 39Computation of chargeable gainsChapter 2
- 40Expenses incurred for disposal of chargeable assetsChapter 2
- 41Part disposalChapter 2
- 42Consideration due after time of disposalChapter 2
- 43Assets lost or destroyedChapter 2
- 44Bargains comprising two or more transactionsChapter 2
- 45Valuation at market valueChapter 2
- 46Location of assetsChapter 2
- 47Indirect transfer of ownership of companies or assetsChapter 2
- 48Life assurance policiesChapter 2
- 49Rights under policies of insurance, other than life assurance policiesChapter 2
- 50Personal injuryChapter 2
- 51Principal private residencesChapter 2
- 52Personal chattelsChapter 2
- 53Motor vehiclesChapter 2
- 54GiftsChapter 2
- 55Assets held in trust for charitiesChapter 2
- 56Rate of tax for companiesChapter 2
- 57Effective tax rateChapter 2
- 58Rates of tax for individualsChapter 2
- 59Development levyChapter 2
- 60Export processing and free trade zone entitiesChapter 2
- 61Insurance trade or businessChapter 2
- 62Lottery and gaming trade or businessChapter 2
- 63Collective investment schemeChapter 2
- 64Mining operationsChapter 2
- 65Application of this PartChapter 3
- 66Charge of hydrocarbon taxChapter 3
- 67Ascertainment of crude oil revenue, adjusted profit, assessable profitsChapter 3
- 68Allowable deductionsChapter 3
- 69Deductions not allowedChapter 3
- 70Assessable profits and lossesChapter 3
- 71Chargeable profits and allowancesChapter 3
- 72Chargeable hydrocarbon taxChapter 3
- 73Additional chargeable tax payable in certain circumstancesChapter 3
- 74Pre-production costChapter 3
- 75Trade or business sold or transferredChapter 3
- 76Consolidation of costs and revenueChapter 3
- 77PartnershipsChapter 3
- 78Income tax on petroleum operationsChapter 3
- 79Registration and use of separate company for each stream of petroleum operationsChapter 3
- 80Provisions relating to gasChapter 3
- 81Allowances for the purposes of income tax on petroleum operationsChapter 3
- 82Expense deductibilityChapter 3
- 83Basis period for income tax on petroleum operationsChapter 3
- 84Additional income tax payable in certain circumstancesChapter 3
- 85Non-Associated gas greenfield developments in onshore and shallow water terrainsChapter 3
- 86Provision relating to decommissioning and abandonment of fundsChapter 3
- 87General application of this Part and other mattersChapter 3
- 88Fiscal stabilisationChapter 3
- 89Charge of petroleum profits taxChapter 3
- 90Ascertainment of profits, adjusted profit, assessable profits and chargeable profitsChapter 3
- 91Deductions allowedChapter 3
- 92Incentives for utilisation of associated gasChapter 3
- 93Application of incentives to utilisation of non-associated gasChapter 3
- 94Deductions not allowedChapter 3
- 95Exclusion of certain profitsChapter 3
- 96Assessable profits and lossesChapter 3
- 97Chargeable profits and capital allowancesChapter 3
- 98Assessable petroleum profits taxChapter 3
- 99Additional chargeable tax payable in certain circumstancesChapter 3
- 100PartnershipsChapter 3
- 101Production sharing contractsChapter 3
- 102Duration of oil prospecting licenceChapter 3
- 103Determination of petroleum profits taxChapter 3
- 104Determination of investment tax credit and investment tax allowanceChapter 3
- 105Royalty payable in respect of deep offshore production sharing contractsChapter 3
- 106Computation of petroleum profit taxChapter 3
- 107Allocation of royalty oilChapter 3
- 108Allocation of cost oilChapter 3
- 109Allocation of tax oilChapter 3
- 110Allocation of profit oilChapter 3
- 111Payment royaltyChapter 3
- 112Chargeable tax petroleum operationsChapter 3
- 113Use of realisable price in determining royalty and petroleum profits tax in respect of crude oilChapter 3
- 114Submission of receiptsChapter 3
- 115Adaptation of lawsChapter 3
- 116Review of the production sharing contractChapter 3
- 117Administration of royaltiesChapter 3
- 118InterpretationChapter 3
- 119Unilateral relief of double taxationChapter 4
- 120Double taxation agreementChapter 4
- 121Method of calculating relief to be allowed for double taxationChapter 4
- 122InterpretationChapter 4
- 123Charge of dutiesChapter 5
- 124Manner of denoting dutyChapter 5
- 125Obligation to stampChapter 5
- 126Admissible evidenceChapter 5
- 127Bill of exchangeChapter 5
- 128Promissory NoteChapter 5
- 129Sale or purchase of optionsChapter 5
- 130Conveyance on saleChapter 5
- 131Conveyance in consideration of a debtChapter 5
- 132Duty on transfer of mineral assetsChapter 5
- 133Provisions as to exchangeChapter 5
- 134LeasesChapter 5
- 135Duty on share capitalChapter 5
- 136Duty on loan capitalChapter 5
- 137Marketable securityChapter 5
- 138AppraisementsChapter 5
- 139Duplicates and counterpartsChapter 5
- 140Duty relating to one instrument covering multiple transactionsChapter 5
- 141Duty relating to multiple instruments covering same transactionChapter 5
- 142Provisions on non-monetary considerationChapter 5
- 143Imposition of value added taxChapter 6
- 144Charge of VATChapter 6
- 145Taxable suppliesChapter 6
- 146Time of supplyChapter 6
- 147Rate of VATChapter 6
- 148Value of taxable suppliesChapter 6
- 149Value of imported goodsChapter 6
- 150Taxable supply of non-residentsChapter 6
- 151Payment of VAT by taxable personChapter 6
- 152VAT InvoiceChapter 6
- 153Collection of VAT by taxable personChapter 6
- 154Collection of VAT by persons other than the supplierChapter 6
- 155Credit for input tax and remission of VATChapter 6
- 156Business restructuringChapter 6
- 157Fiscalisation of supplies for VATChapter 6
- 158Imposition of surchargeChapter 7
- 159Chargeable transaction and base for surchargeChapter 7
- 160Administration of the surchargeChapter 7
- 161Exemption from surchargeChapter 7
- 162Income tax exemptionChapter 8
- 163Deductible donationsChapter 8
- 164Deduction for research and developmentChapter 8
- 165Priority sectorsChapter 8
- 166Eligibility for economic development incentive certificateChapter 8
- 167Application for economic development incentive certificateChapter 8
- 168Approval of applicationChapter 8
- 169Terms of economic development incentive certificateChapter 8
- 170Addition of product to the economic development incentive certificateChapter 8
- 171Application of economic development incentive certificateChapter 8
- 172Production day and qualifying capital expenditureChapter 8
- 173Cancellation of economic development incentive certificateChapter 8
- 174InformationChapter 8
- 175Publication of economic development incentive certificateChapter 8
- 176Economic development tax creditChapter 8
- 177Economic development incentive periodChapter 8
- 178Books and records for priority productsChapter 8
- 179Returns of profitsChapter 8
- 180Cancellation or discountenance of economic development tax creditChapter 8
- 181Provisions for plantation industryChapter 8
- 182Exclusion from other reliefs and transition arrangementsChapter 8
- 183InterpretationChapter 8
- 184Exemption from stamp dutiesChapter 8
- 185Exempt suppliesChapter 8
- 186Taxable supplies chargeable at zero percentChapter 8
- 187Exemption by order of the PresidentChapter 8
- 188InterpretationChapter 8
- 189Business restructuringChapter 9
- 190Artificial transactionsChapter 9
- 191Transactions between related parties to be at arm's lengthChapter 9
- 192Waivers or refund of liability or expensesChapter 9
- 193SupplementalChapter 9
- 194Power to make regulationChapter 9
- 195RepealsChapter 9
- 196Consequential amendmentsChapter 9
- 197Revocation and consequential amendment of subsidiary legislationChapter 9
- 198Savings provisionsChapter 9
- 199Exercise of powers, duties and obligationsChapter 9
- 200Conflict with other lawsChapter 9
- 201General interpretationChapter 9
- 202CitationChapter 9