(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 services and fossil fuel or any other tax, and where the provisions of any other law is inconsistent with the provisions of this Act, the provisions of this Act shall prevail and the provisions of that other law shall, to the extent of the inconsistency, be void.
(2)
Notwithstanding the provisions contained in any other law —
(a)
taxable income, allowable deductions, reliefs or allowances for the purposes of ascertaining tax due shall be determined only in accordance with this Act ;
(b)
any income or profits, gains, assets or transaction which is chargeable to tax under this Act shall not be subject to any other tax of a similar nature imposed on the same taxpayer or tax base ;
(c)
the Minister may issue regulations or guidelines published in the Federal Government Gazette for the effective implementation of this subsection.
(3)
A person or agency of Government saddled with a duty or obligation under this Act or under any other law shall, for the purposes of giving effect to imposition of any tax, levy, royalty, surcharge on fossil fuel, carry out such duty or obligation in accordance with this Act.