National Lottery (Amendment) Act 2017- Special Tax Regime for Lottery Companies

BACKGROUND

The National Assembly of the Federal Republic of Nigeria in 2017 passed the National Lottery Amendment Bill (the Bill) for the amendment of the National Lottery Act 2005 into law.

The National Lottery (Amendment) Act 2017 (the 2017 Act or the Act) which has a commencement date of December 22, 2017, provides inter alia for two categories of licensing regime for lottery business in Nigeria and introduces a new tax regime for lottery businesses in Nigeria. Prior to the passage of the Act by the Nigerian National Assembly, lottery companies have been liable to pay taxes in line with the provisions of the Companies Income Tax Act. We will in the ensuing paragraphs examine the key provisions of the Act. 

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