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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Capital Transfer Tax Act: the tax and the relevance of its administrative machinery
Author:Popoola, A.T.
Periodical:Review of African Political Affairs
Geographic term:Nigeria
inheritance tax
fiscal law
Abstract:After examining the principles of taxation having the greatest bearing on capital transfer tax, the author looks in particular at Nigeria's Capital Transfer Tax Act, 1979, and its administration. He notes that the relevant tax authority is the tax authority of the State in which the property in question is located, and not that of the State where the owner (or previous owner) of the property resides. To minimize the possibility of tax evasion, particularly in the case of property transfers on death, he argues in favour of transferring this function to the local government area where the property is located. Since, in the absence of valuation expertise in the local governments, this proposal may create problems with respect to property valuation, he suggests that the local governments might be able to obtain valuation experts from the State governments. He calls for a greater usage of the capital transfer tax as a source of revenue and for purposes of equality. Note, ref.