Overview

The Companies Income Tax Act (CITA) is a Nigerian legislation that governs the taxation of companies operating in Nigeria. It outlines the charge of tax, identification of companies, taxable profits, deductions, allowances, assessments, returns, appeals, collection, recovery, repayment of tax, and penalties. The Act covers various industries such as shipping, air transport, cable undertakings, insurance, and gas. It provides for incentives like rural investment allowance, export processing zone allowance, and relief for research and development. The Act also addresses double taxation relief, minimum tax, and tax on dividends. Key provisions include sections on self-assessment, deductibility of donations, and penalties for non-compliance.

Download