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Sunday, July 26, 2020 | History

3 edition of Nigerian tax offences and penalties found in the catalog.

Nigerian tax offences and penalties

Muhammed Taofeeq Abdulrazaq

Nigerian tax offences and penalties

by Muhammed Taofeeq Abdulrazaq

  • 116 Want to read
  • 8 Currently reading

Published by Batay Law Publications Ltd in Ilorin (Nigeria) .
Written in English

    Places:
  • Nigeria.
    • Subjects:
    • Tax evasion -- Nigeria.,
    • Tax penalties -- Nigeria.

    • Edition Notes

      Includes bibliographical references and index.

      StatementMuhammed Taofeeq Abdulrazaq.
      Classifications
      LC ClassificationsKTA3319 .A93 1993
      The Physical Object
      Paginationxxv, 181 p. ;
      Number of Pages181
      ID Numbers
      Open LibraryOL840102M
      ISBN 109783210521
      LC Control Number95116780
      OCLC/WorldCa34745647

      The Customs and Inland Revenue (CIR) is the government agency with the job of protecting the community from potential risks arising from international trade and travel, while facilitating the legitimate movement of people and goods across the border and maximizing the collection of the government's revenue through taxes and licensing. Value Added Tax offences according to the VAT Act: Capital Gains Tax offences in: Causes of Tax Offences High compliance Costs High Tax Rates Fairness of Tax Systems Complexity of Tax Laws and Procedures Limited Punitive Action to Tax .

      Also Read: 7 Amazing Books That Will Teach You How to Better Manage Your Money. Tax administration in Nigeria. The administration of tax is vested in various tax authorities depending on the type of tax under consideration. In Nigeria, there are three . Tax Invoice. It is an offence however for a taxable person to fail to obtain a TIN as well as failure to issue tax invoice when it is already confirmed to be doing business. Stiff penalties have been provided in the VAT Act to check these abuses. Section 32 of VAT Act. The Tax Invoice should be issued at the time of delivery of the taxable.

        Court imposed fine, imprisonment or other penalty: Details are published when a fine or other Court penalty is imposed in respect of tax or duty offences. Court penalties may include imprisonment, partly suspended or suspended sentences, community service in lieu of . What Penalties are Charged on Tax Offences? Tax offences can attract punitive penalties and interest. These include: Offence - Failure to deduct PAYE, account for it or to submit a certificate upon request.. Penalty - Whichever is greater of, 25% of the amount of the tax involved or Ksh. 10, Offence - Failure to deduct or pay Withholding Tax.. Penalty - 10% of the amount of the tax.


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Nigerian tax offences and penalties by Muhammed Taofeeq Abdulrazaq Download PDF EPUB FB2

Nigerian Tax Offences and Penalties is a standard work and reference on the subject in Nigeria. It presents this difficult subject in a simplified mode.

Law, Accountancy, Taxation, Economics, /5(10). Nigerian tax offences and penalties [Muhammed Taofeeq Abdulrazaq] on *FREE* shipping on qualifying offers. Nigerian tax offences and penalties: Muhammed Taofeeq Abdulrazaq: : Books. top. E-Library.

Abdulrazaq, M.: Nigerian Tax Offences and Penalties. Batay Law Publication Ltd, Ilorin () Google Scholar Arohundade, J.A.: Nigerian Income Tax and Its International : Saka Muhammed Olokooba. It is a known fact that people all over the world detest the paying of tax, especially when the money has been hard earned.

Due to this fact, there has been an ever hostile regard for taxation. Today, due to this ancient hatred for taxation tax payers have devised more legitimate ways and means to perpetrate tax offences as it relates to payment.

The impact of tax evasion on government revenue cannot be overemphasized. In Nigeria, there Nigerian tax offences and penalties book fines and penalties of taxation for defaulters.

In this article, we will be discussing the types and penalty for tax evasion in Nigeria. See the penalties for non-remittance of withholding tax. Offences & Penalties Failure to pay the tertiary education tax on the due date (i.e., within 60 days from the date of service of the notice of assessment for the company) attracts a 5% penalty of the tax unpaid.

In addition to the penalty of 5%, the following fines shall be applied. offences & penalties. federal republic of nigeria notice of offence sheet pursuant to section 10(4), 28(2) of frsc (establishment) act, and regulation of nrtr, s/no.

tick infringement (s) code. points. penalty. category. OFFENCES AND PENALTIES UNDER PERSONAL INCOME TAX(PITA, AMENDMENT) OFFENCE PENALTY SECTION Failure by bankers to render returns, books, document and information on demand within 7 days N, for Corporate N50, for Individual 47(3) Failure by bankers to render information about new customer within 7 days N, for Corporate N50, for Individual.

The range of penalties described in the Table is intended to serve as a guide to discipline, not a rigid standard, and deviations are allowable for a variety of reasons. Greater or lesser penalties than suggested may be imposed as circumstances warrant, and based on a consideration of mitigating and aggravating factors.

The cardinal objective of this research work is to assess the tax offences and penalties in the Nigerian Income Tax Laws ad critically analyze the implementation of these penalties on the tax offences, the efficiency of tax administrative machinery in dealing with such offences and finally to make a survey into other possible ways which may most likely present appreciable improvement of the Nigerian Tax system.

Tax Knowledge, Penalties and Tax Compliance in Small and Medium Scale Enterprises in Nigeria Article (PDF Available) in iBusiness 08(01) January with 3, Reads How we measure 'reads'. Offences and penalties. Penalty for making incorrect returns. False statements and returns.

Penalty for offences by authorised and unauthorised persons. Tax to be payable not withstanding proceedings. Prosecution to be with sanction of Board. Saving for criminal proceedings.

Place of an offence. PART XII Powers. This paper does not pretend to cover everything about VAT, but some specifics that addresses the imperatives which are; Nigerian Value Added Tax system and its position on basic food items. Offences which attracts pecuniary penalties: This type of offences are mainly administrative powers given to the Commissioner General to impose monetary fines as a result of failure to comply with the tax law.

The pecuniary penalties are in addition to the original tax liability and they do not relief a person from criminal proceedings in court. PART XI- OFFENCE AND PENALTIES. Offences and penalties. Penalty for making incorrect returns.

False statements and returns. Penalty for offences by authorised and unauthorised persons. Tax to be payable not withstanding proceedings.

Prosecution to be with sanction of Board. Suing for criminal proceedings. Penalty for offences. False statements and returns. Penalties for offences by authorised and unauthorised persons. Tax to be payable notwithstanding proceedings for penalties. Prosecution to be with the sanction of the Board.

Savings for criminal proceedings. 3 Period of filing returns: Within 6 months after the financial year end (section 13 of CITA). Penalty for default: N25, penalty in the first month of failure to file and N5, for each month default continues (section 13 of CITA).

PERSONAL INCOME TAX This tax is payable by every taxpayer in Nigeria on the aggregate amount of his. Various penalties for crimes & offences under Nigerian law By Legalnaija AM I attended a military secondary school in the heart of Abeokuta and trust me, aside from the regular koboko (horse whips), we had a fine array of punishments that students were subject to when it came to discipline.

Also check: stamp duties in Nigeria explained. Education Tax In Nigeria and Penalties (Summary) A person who is guilty of an offence under this Decree shall pay a fined of N10, or imprisonment for a term of 3 years.

For a subsequent offences, the guilty shall pay a fine of N20, or imprisonment for a term of five years or both. Unipetrol Nigeria Plc v. Edo State Board of Inland Revenue: 8 NWLR (pt. ) Where it was held that tax authority can prosecute tax offences in its name () Google Scholar Books.The related penalties for immigration offences, such as presentation of forged documents, failure to renew immigration facilities 3, altering of travel documents, enabling illegal residence, smuggling of illegal immigrants, obstruction of justice, and other relevant offences by corporate bodies, have been highlighted for clarity.This book offers a simplified and straightforward introduction to the basics of Nigerian taxation.

While discussing various laws, practices and procedures, it also addresses the latest amendments to Nigerian tax laws. The book begins by discussing the central issue of Islamic taxation and its legality under Nigerian .