Tax Appeal Tribunal Holds That Tax Exemptions Will Not Be Granted Unless All Conditions Precedent For Its Grant Are Fulfilled

On 23rd December 2019, the Tax Appeal Tribunal (Tribunal), Lagos Zone, in Appeal Number: TAT/LZ/ VAT/022/2016, SINOPEC International Petroleum Exploration & Production Nigeria Ltd v. Federal Inland Revenue Service held that a tax exemption cannot be granted except all the conditions precedent for its grant have been fulfilled.

Source: Mondaq