NIGERIA TAX ACT, 2025

Section 171

Section 171 of 206Federal Republic of Nigeria

(1) A priority company may, at any time during its incentive period,
product to make an application in writing to the Executive Secretary of the NIPC for its
the economic
economic development incentive certificate to be amended to add another
development
product to the priority product or products specified in the certificate.
incentive
certificate
(2) An application under this section shall specify the additional priority
product and the reasons for the application and the provisions of sections 168
and 171 of this Act shall apply.
(3) An economic development incentive certificate may be extended for
an additional period of five years and no more, on the condition that the priority
company invests 100% of its profits during the incentive period for expansion
of the same product or products.
Application 172. (1) Subject to the provision of section 173 of this Act, where an
of economic economic development incentive certificate is issued to a company and the
development provisions of Chapter Two of this Act has been applied on the company after
incentive
the effective date of the certificate, appropriate adjustments shall be made to
certificate
give effect to the provisions of this Part.
(2) No economic development incentive certificate under this Act shall
be issued with a retroactive date.

Cite this section

Section 171, NIGERIA TAX ACT, 2025.

https://repo.podus.ai/laws/nigeria-tax-act/section/171/