Nigeria Tax Declaration Laws:

What is the punishment for not filing the declaration?

None

What is the penalty for making inaccurate statements on this declaration?

Any property or assets acquired by a public officer which is not fairly attributable to income, gift, or loan approved by the Code shall be deemed to have been acquired in breach of this Code unless the contrary is proved.

Can an official be prosecuted for violating this law?

The fifth schedule contains many elements of public officers' code of conduct of which assets disclosure is only one. According to Section 12, any allegation that a public officer has committed a breach of or has not complied with the provisions of this Code shall be made to the Code of Conduct Bureau.

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Constitutional Requirement for Candidates seeking election

Under Section 85 (4) (s) of the Personal Income Tax Act, Cap p8 Laws of the Federation of Nigeria, LFN 2004, all candidates, in all political parties, seeking election into public offices, are required to present current Tax Clearance Certificates (TCCs) showing that they have paid their Personal Income Tax as and when due.

"It is in this light that the Joint Tax Board (JTB) calls on the Independent National Electoral Commission (INEC) to furnish the Board with details and copies of the Tax Clearance Certificates of all candidates, in all political parties, who have filed papers with INEC, to seek elective offices in the April general elections," the board said.

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Newspaper reports indicate that most (if not all) the political candidates have submitted falsified tax declaration documents. Such is the magnitude of the case that INEC and FG are even objecting to the idea of screening due to the sensitivity of the exercise at this last hour.

Funny enough, INEC boss joked that he does not even have a personal tax declaration.

The world will be shocked if JTB have their way. And JTB have given no sign of relenting on their demand.

I came to Nairaland to nail Atiku.

Mission Accomplished!!!

It's time to say "AU REVOUR".

Got other important work to accomplish.

Buh Bye, See Ya!!!