Baha's Books

Understanding Share Transfers and Ownership Changes under CAMA 2020 (Sections 176–181) Published by Baha’s Books — Business Law and Corporate Governance Insights Visit: bahasbooks.com The Companies and Allied Matters Act (CAMA) 2020 governs how Nigerian companies are formed, managed, and operated. Among its key provisions are the rules surrounding the transfer and registration of shares , which define how ownership of a company changes hands. Sections 176 to 181 of CAMA 2020 specifically address how share transfers are conducted, how the company’s register of members should be updated, and how special circumstances such as death, bankruptcy, and partial transfers are handled. In this detailed guide, we break down these sections in simple English, explaining exactly what they mean and how they affect shareholders, directors, company secretaries, and investors. Section 176 — Entry in the Register of Transfers This section defines the official process for recording share tran...

Understanding Business Restructuring, Mergers, and Related-Party Transactions under the Nigeria Tax Act, 2025 By Baha’s Books | www.bahasbooks.com The Nigeria Tax Act, 2025 introduces one of the most detailed and practical frameworks for handling business restructuring, mergers, acquisitions, and related-party transactions in Nigeria’s tax system. These provisions are not just about calculating taxes — they aim to balance two crucial goals: allowing businesses the freedom to grow, restructure, and combine, while also preventing tax evasion or manipulation through artificial transactions. This part of the Act serves as a roadmap for how assets, liabilities, and tax benefits are treated when a company changes its structure, merges with another, or sells part of its operations. It defines the boundaries of what is legitimate restructuring and what the tax authority can consider as abuse of tax law. Mergers and Business Restructuring: Continuity, Not Cessation The Act begins by setting o...

Key Tax Definitions Every Nigerian Business Should Understand — Explained from the Nigeria Tax Act, 2025 By Baha’s Books | www.bahasbooks.com The Nigeria Tax Act, 2025 doesn’t just impose taxes—it clarifies them. One of its most important contributions is the section that defines critical tax and business terms. This section is more than a glossary; it’s the backbone that determines how tax incentives, exemptions, and obligations are interpreted and enforced. Without these definitions, tax compliance and enforcement would be chaotic, as each business or auditor could interpret terms differently. This part of the law therefore ensures that everyone—from accountants and auditors to business owners and regulators—uses the same legal language when applying or claiming tax benefits. The definitions here particularly relate to VAT (Value Added Tax), agriculture, medicine, education, trade, and industrial operations. Educational Materials — Modern and Traditional Learning Tools The Act...

Construction of Class Rights (Explained for Founders, Investors, and Company Secretaries) Publisher: Baha’s Books — Practical Accounting, Company Law & Governance Insights Website: bahasbooks.com Why this matters Whenever a Nigerian company issues shares—ordinary, preference, or any special class—their rights (dividends, voting, return of capital, and treatment on winding-up) must be clear. Section 169 of the Companies and Allied Matters Act, 2020 (CAMA 2020) supplies default interpretation rules for those rights. These rules apply whenever the Articles are silent or ambiguous , and they protect both the company and its shareholders from avoidable disputes. This article explains Section 169 comprehensively, translates each paragraph into plain language, and shows how to apply it in real situations. The core idea Section 169 says: when you interpret the Articles about rights attached to shares , you must apply the following rules of construction . If the Articles say so...

Understanding VAT Exemptions for Food, Baby Products, and Educational Materials under the Nigeria Tax Act, 2025 Published by Baha’s Books – www.bahasbooks.com The Nigeria Tax Act, 2025 continues its effort to create a fair and transparent tax environment by clarifying what items are exempt from Value Added Tax (VAT) and what qualifies as zero-rated. This particular section of the law focuses on defining essential goods—especially basic food items, baby products, and educational books —to ensure that no ambiguity arises when applying VAT in real-world business operations. By providing these precise definitions, the law aims to protect consumers from over-taxation and ensure that businesses, auditors, and regulators apply the same understanding when determining what is taxable and what is not. At its core, the law recognizes that essential human needs—food, education, and childcare—should not be taxed the same way as luxury or commercial items. The section provides a detailed explanat...

Understanding VAT Relief in Nigeria: What Counts as Baby Products and Basic Food Items Under the Nigeria Tax Act, 2025 By Bahas Books — bahasbooks.com The Nigeria Tax Act, 2025 is transforming how essential goods are taxed by introducing clear VAT relief rules that directly improve affordability for Nigerian households. Part of this change includes detailed definitions of everyday products—especially those relating to babies, food, electric vehicles, and agricultural production—to ensure these necessities are taxed fairly and support national development priorities. This update is part of a broader economic agenda. By exempting or zero-rating basic goods, the government intends to reduce living costs, support vulnerable groups, stimulate local agricultural output, and promote innovation-driven industries like electric mobility. In this article, we unpack key sections of the Act to show exactly which products qualify for VAT relief and why these changes matter for both consumers and ...

Understanding Stamp Duty and VAT Exemptions in the Nigeria Tax Act, 2025: What Every Business Must Know Nigeria’s tax landscape continues to evolve with the introduction of the Nigeria Tax Act, 2025. A key feature of this legislation is its strategic approach to tax exemptions—particularly those related to stamp duties and Value Added Tax (VAT). These exemptions are designed not only to ease financial burdens where appropriate but also to stimulate economic growth, encourage stronger investment flows, and support essential social services. At Bahas Books, our mission is to help Nigerian businesses and entrepreneurs stay informed, compliant, and competitive. In this article, we break down what the Act says about stamp duty exemptions and VAT-favored supplies so that business owners can clearly understand how these provisions affect them and their financial strategies. More useful resources are available on bahasbooks.com. Stamp Duty Exemptions: What Transactions Are Free from Duties...