National Archives / National Archives of Nigeria

Supplement to Official Gazette

FINANCE (MISCELLANEOUS TAXATION PROVISIONS) DECREE 1972 Decree No. 47 THE FEDERAL MILITARY GOVERNMENT hereby decrees as follows: 1. The Companies Income Tax Act 1'961 is hereby amended as follows : (a) in section 31 (i) in subsection (2) thereof for paragraphs (a) and (b) there shall be substituted the following new paragraph I ALiA N [1st April 1972] "(a) the amount of a loss which the Board is satisfied has been incurred by the company in any trade or business during any preceding year of assessment : Provided that (i) in no circumstances shall the aggregate deduction from assessable profits…