117 Power to make Regulations

(1) The Revenue Council established under Section 32 of this Law, shall make Regulations for carrying into effect the provisions of this Law and for the due Administration of its provisions and may in particular, make Regulations:

(a) prescribing Fees under this Law;

(b) prescribing the Forms for Returns and other information required under this Law or any other Law;

(d) on the general procedure for Assessment, Issuance of Demand Notice, Collection and Remittance of any Tax or Levy in the State and other incidental matters; and

(e) for carrying into effect the provisions of this Law.

(2) Without prejudice to the general effect of sub-section (1) of this Section, Regulations made under sub-section (1) may:

(a) contain provisions of a Saving or Transitional nature subsequent to the coming into force of this Law; or

(b) prescribe in respect of a contravention of the Regulations:

(i) a Penalty not exceeding a Fine of ₦100,000.00 (One Hundred Thousand) Naira or Imprisonment not exceeding one year or both;

(ii) in the case of a second or subsequent Offence, a Penalty not exceeding a Fine of ₦200,000.00 (Two Hundred Thousand) Naira or Imprisonment not exceeding Two years or both;

(iii) in the case of a continuing Offence, an additional Fine not exceeding ₦10,000.00 (Ten Thousand) Naira in respect of each day on which the Offence continues; and

(iv) a requirement that the court must forfeit to the Service anything with which the offence was committed.