FINANCE (MISCELLANEOUS TAXATION PROVISIONS) DECREE, 1976
Decree · Finance
Policy date: 1976-01-01
A Decree amends various tax laws, including petroleum profits tax and capital gains tax, as part of economic reforms. It targets companies and tax authorities to enhance revenue collection and update fiscal measures.
FINANCE (MISCELLANEOUS TAXATION PROVISIONS) DECREE, 1976
What Is This Policy?
A 1976 omnibus taxation decree making various amendments to multiple tax laws simultaneously, updating petroleum profits tax, capital gains tax, and other fiscal measures as part of post-civil war economic reform.
Who Does It Target?
Companies subject to various federal taxes FIRS (formerly Federal Board of Inland Revenue) Petroleum companies subject to PPT Tax practitioners handling historical tax assessments
What Does It Aim to Achieve?
Consolidate various taxation amendments into a single legislative instrument, improve revenue collection, and update tax laws to reflect post-civil war economic priorities.
Key Features
PPT Amendments: Updated provisions of the Petroleum Profits Tax Act. CGT Updates: Made amendments to the Capital Gains Tax Act. Stamp Duties: Updated stamp duty provisions. Miscellaneous: Various technical corrections and updates to multiple tax statutes.
Current Status
Rollout Stage: Provisions largely incorporated into current statutes Coverage: Various tax categories Beneficiaries: Historical — government revenue Funding: Revenue measure
How to Access
Historical reference document — current tax obligations governed by current statutes FIRS may reference for interpretation of historical provisions Application method: Current tax obligations: engage FIRS at https://www.firs.gov.ng
Important Terms
Superseded in most areas by subsequent tax legislation and Finance Acts Relevant for historical tax dispute interpretation FIRS legal department may rely on it for old cases
Official Resources
Website: https://www.firs.gov.ng Contact: Federal Inland Revenue Service (FIRS)
Legal Framework
The Finance (Miscellaneous Taxation Provisions) Decree 1976 is recognized under Section 315 of the 1999 Constitution as an existing law. It operated under the Petroleum Profits Tax Act, the Capital Gains Tax Act, and other tax statutes applicable at the time. Subsequent Finance Acts (2019–2025) have superseded many of its provisions. The Federal Inland Revenue Service (Establishment) Act 2007 provides the current institutional framework for tax administration.