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The Nigerian Tax Incentives and Relief Policy

  • Saka Muhammed OlokoobaEmail author
Chapter

Objectives

The main objective of study in this chapter is a discussion on tax incentives and reliefs available to both corporate and personal taxpayers under the Nigerian Tax Laws. Tax incentives and reliefs are an aspect of policy administration targeted at the reduction of taxpayers’ burden as well as paraphernalia of attracting foreign investment into the country. At the completion of the study in this chapter, readers are expected to

  1. i.

    know what tax incentives are;

     
  2. ii.

    appreciate the Legal Regimes of Tax Incentives and Relief in Nigeria;

     
  3. iii.

    be abreast with different Categories of Tax Incentives and Reliefs in Nigeria;

     
  4. iv.

    know what Tax Amnesty is, and

     
  5. v.

    be aware of various objectives of Tax Incentives and Reliefs in the Contemporary Nigerian Tax Environment.

     

Relevant Authorities and References for Further Reading

Cases

  1. Curtis v Oldfield (1925) 9 T.e 319Google Scholar
  2. Stocks v Costain Property Investments Ltd. (1984) STC, 204Google Scholar

Books

  1. Abdulrazaq, M.T.: Capital tax allowance. In: Abdulrazaq, M.T. (ed.) Nigerian Tax Notes, Vol. 5 No. 7, July 1999Google Scholar
  2. Ariwodola, J.A.A.: Companies Taxation in Nigeria, including Petroleum Profits Tax, 3 edn. J.A.A Nigeria Limited (2000)Google Scholar
  3. Ariwodola, J.A.A.: Personal Taxation in Nigeria, including Capital Gains Tax. 4 edn. J.A.A Nigeria Limited (2001)Google Scholar
  4. Ayua, I.A.: Nigerian Tax Law. Spectrum Books Ltd, Ibadan (1999)Google Scholar
  5. Bakwaph-Kanyip, B.: Companies income tax. In: Abdulrazaq, M.T. (ed.) CITN Nigerian Tax Guide and Statute, 1 edn. The Chartered Institute of Taxation of Nigeria (2002)Google Scholar
  6. Bryan, A.G.: Black’s Law Dictionary, 7th edn, p. 1474. St. Paul Minn West Publishing Co, USA (1990)Google Scholar
  7. Collins English Dictionary. Collins Publishers (2000)Google Scholar
  8. Hornby, A.S.: Oxford Advanced Learner Dictionary International Student edition, 7 edn. Oxford University Press, New York (1997)Google Scholar
  9. John, D.C.: An examination of the statutory provisions on tax incentive. In: Animasaun, N.O., Abdul, O.Y., Atilola, B. (eds.) Changing Perspective in the Law and Practice of Taxation in Nigeria: Essays in honour of Prof. M.T. Abdulrazaq, p. 402. Hybrid Consult and College of Law Kwara State University (2017)Google Scholar
  10. James, A.A.: Personal Taxation in Nigeria, 4th edn. J.A.A Nigeria Ltd, Lagos (2001)Google Scholar
  11. Lekan, S., Sunday, O.: Taxation: Principles and Practice in Nigeria. Silicon Publishing Company, Ibadan (2006)Google Scholar
  12. Ola, C.S.: Income Tax Law for Corporate and Unincorporated Bodies in Nigeria. Heinemann Educational Books (Nigeria) Ltd, Ibadan (1984)Google Scholar
  13. Olumide, K.O., Olukayode, O.A., Oke Omene, M.S.: A critical assessment of the pioneer status incentive (Tax Holiday) regime in Nigeria. In: Agbonika, J.A.M., Agbonika, J.A.A.A., Olokooba, S.M. (eds.) Topical Issues on Nigerian Tax Laws and Related Areas. College of Law, Salem University Lokoja, Nigeria (2018)Google Scholar
  14. Orojo, J.O.: Company Tax Law in Nigeria. Sweet and Maxwell, London (1979)Google Scholar
  15. Soyode, L., Kajola, S.O.: Taxation Principles and Practice in Nigeria. Silicon Publishers, Ibadan (1998)Google Scholar

Journals

  1. Abdulrazaq, M.T.: Tax implications of provision for bad debts by nigerian banks’ author’s private collectionGoogle Scholar
  2. Ayua, I.A.: “Tax incentives and private industrial investment in Nigeria” Nigerian Commercial Law, Problems and Perspectives 1993 Vol. 2 Nigerian Commercial Law and Business Law JournalGoogle Scholar

Workshop

  1. Ipaye, A.: Tax collection and government responsibility under an international economic recession. Being a paper presented at the 1st Akwa-Ibom State Revenue summit, April 6–7 2009Google Scholar

Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Department of Business Law, Faculty of LawUniversity of IlorinIlorinNigeria

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