Section 12: Exemption from income tax.

(1) It is hereby declared that the Institute is an organisation between which and the Government there exists an arrangement for technical assistance, and-
(a) the income of the Institute; and
(b)
the income of any person other than a citizen of Nigeria who is employed in or is engaged by the Institute in a professional capacity,
shall, in so far as and to the extent only that it is derived solely by reason of operations of the Institute in Nigeria. be exempted from liability to income tax.
(2) Income-
(a) of persons on in-service training, fellowship, grants or scholarship; and
(b)
derived by non-Nigerians from other sources outside Nigeria,
shall likewise be exempted from income tax.