80 Making incorrect Returns.

(1) A Person who makes or gives:

(a) an incorrect Return or Statement by omitting or understating any Income chargeable to Tax under this Law; or

(b) any incorrect information in relation to any matter or thing affecting the Liability to Tax of any Taxable Person: commits an Offence and is liable on Conviction to a Fine of ₦200,000.00 (Two Hundred Thousand Naira) and twice the amount of the Tax which has been undercharged in consequence of such incorrect Return or Information or would have been so undercharged if the Return or Information had been accepted as correct.

(2) Section 19 of the Revenue Code applies in determining whether a Person has made a false or misleading Statement to a Tax Officer.