LEGAL EXPOSITION OF THE LAWS ON INTERNALLY GENERATED REVENUE (IGR) IN NIGERIA
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Revenue, Income Tax, Capital Gains Tax, Petroleum Profit Tax, Capital Transfer Tax
Taxation in Nigeria is strictly by way of formal legislation. In otherwords, every tax in Nigeria, to be legal and enforceable, has to beenabled by an identifiable piece of legislation which imposes taxobligations which are clear and unambiguous1. In the precedingchapter, legal framework was defined as a set of laws. When combinedwith IGR, it means a set of laws regulating IGR in Nigeria. In thisregard, it is important to reiterate the notion that tax laws are statutoryin nature. According to Ayua2, there has been a requirement that if atall, government is to interfere with property, pry into a man’s affairsand takes his money, then this must be on clear statutory authority.
Taxation in Nigeria is strictly by way of formal legislation. In other
words, every tax in Nigeria, to be legal and enforceable, has to be
enabled by an identifiable piece of legislation which imposes tax
obligations which are clear and unambiguous1
. In the preceding
chapter, legal framework was defined as a set of laws. When combined
with IGR, it means a set of laws regulating IGR in Nigeria. In this
regard, it is important to reiterate the notion that tax laws are statutory
in nature. According to Ayua2
, there has been a requirement that if at
all, government is to interfere with property, pry into a man’s affairs
and takes his money, then this must be on clear statutory authority.
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