Section 19

(1) There shall be no further tax charged in respect of any dividend
dividends received by a non-resident from a Nigerian company other than tax deducted
received by
at source under the Nigeria Tax Administration Act, 2025.
Non-
Resident
(2) Nothing in this Act shall confer on the non-resident or the Nigerian
persons
company paying the dividend, a right to repayment of tax paid under section 51
of the Nigeria Tax Administration Act, 2025
PART IV – ASCERTAINMENT OF PROFITS AND INCOME
Deductions 20. (1) Except where the provisions of section 18 of this Act or Part IX
Allowed of Chapter Two apply, for the purposes of ascertaining the profits or loss from
any trade, business, profession or vocation under this Act, there shall be deducted
all expenses for that period wholly and exclusively incurred in the production
of the income, including –
Third (a) any sum payable by way of interest on debt employed in generating
Schedule the income of the trade, business, profession or vocation, subject to the
provisions of the Third Schedule to this Act;
(b) rent and premiums, incurred during that period, in respect of land or
building occupied for the purposes of generating the income;
(c) any outlay or expenses incurred in respect of –
(i) salary, wages or other remuneration paid to employees, and
(ii) cost to the company of any benefit or allowance provided to its
employees;
(d) any expense incurred for repair of premises, plant, machinery or
fixtures employed in acquiring the income, or for the renewals, repair or
alteration of any implement, utensil or articles so employed;
(e) any amount of expenditure incurred for establishing, preserving or
defending title to or rights over an asset ;
Act No. 4, (f) any contribution to any staff pension, provident or other retirement