Section 1- Imposition of Income Tax Section 2 - Chargeable Income Section 3 – Assessable Income Section 4 - Income from Employment Section 5 - Income from Business Section 6 - Income from Investment Section 7 - Exempt Amounts Section 8 - General Principles Section 9 - Residual Deduction Rule Section 10 – Interest Section 11 - Trading Stock Section 12 - Repairs and Improvements Section 13 - Research and Development Expenses Section 14 – Capital Allowances Section 15 - Losses on Realisation of Assets and Liabilities Section 16 - Limit on Deduction of Financial Costs Section 17 - Losses from Business or Investment Section 18 – Year of Assessment and Basis Period Section 19 - Method of Accounting Section 20 - Cash Basis Accounting Section 21- Accrual Basis Accounting Section 22 - Claim of Right Section 23 - Reversal of Amounts Including Bad Debts Section 24 - Long-term Contracts Section 25 - Foreign Currency and Financial Instruments Section 26 - Quantification According to Market Value Section 27 - Indirect Payments Section 28 - Jointly Owned Investment Section 29 - Compensation and Recovery Payments Section 30 - Annuities, Instalment Sales and Finance Leases Section 31 - Arm’s Length Standard and Arrangements between Associates Section 32 - Income Splitting Section 33 – Thin Capitalisation Section 34 - General Anti-Avoidance Rule Section 35 - Calculation of Gains and Losses Section 36 - Cost of an Asset Section 37 - Consideration Received Section 38 - Realisation Section 39 - Application of this Division to Liabilities Section 40 - Reverse, Quantification and Compensation of Amounts Section 41 - Cost of Trading Stock and Other Fungible Assets Section 42 - Realisation with Retention of Asset Section 43 - Transfer of Asset to Spouse or Former Spouse Section 44 - Transfer of Asset on Death Section 45 - Transfer of Asset to an Associate or for No Consideration Section 46 - Realisation of asset with replacement asset Section 47 - Realisation of Asset as a Result of Merger, Amalgamation or Reorganisation Section 48 - Transfer by way of Security, Finance Lease or Instalment Sale Section 49 - Realisation by Separation Section 50 - Apportionment of Costs and Consideration Received Section 51 - Personal Reliefs Section 52 - Principles of Taxation (Partnerships) Section 53 - Partnership Income or Loss Section 54 -Taxation of Partners Section 55 - Cost of and Consideration Received for Partnership Interest Section 56 - Taxation of Trusts Section 57 - Taxation of a beneficiary of a trust Section 58 - Taxation of Companies Section 59 -Taxation of Shareholders Section 60 - Branch Profits Tax Section 61 - Asset Dealings between Entities and Members Section 62 - Change in ownership Section 63 - Principles of Taxation (Petroleum Operations) Section 64 - Separate Petroleum Operations Section 65 - Exploration and development operations Section 66 - Income from Petroleum Operations Section 67 - Deductions for Petroleum Operations Section 68 - Losses from Petroleum Operations Section 69 - Disposal of Petroleum Rights Section 70 - Decommissioning Funds Section 71 - Withholding tax for petroleum operations Section 72 - Furnishing of Quarterly Return of Income Section 73 - Furnishing of Annual Return of Income Section 74 - Request for further information by Commissioner-General Section 75 - Payment of tax by quarterly instalment for petroleum operations Section 76 – Interpretation (Petroleum Operations) Section 77 - Principles of Taxation (Minerals and Mining Operations) Section 78 - Separate Mineral Operations Section 79 - Reconnaissance and Prospecting Operations Section 80 - Income from Mineral Operations Section 81 - Deductions for Mineral Operations Section 82 - Losses from Mineral Operations Section 83 - Disposal of Mineral Rights Section 84 - Approved Rehabilitation Funds Section 85 – Withholding Tax Section 86 – Interpretation (Minerals and Mining Operations) Section 87 - Banking Business Section 88 - Provision for a debt claim Section 89 - General insurance business Section 90 - Life insurance business Section 91 - Proceeds from insurance Section 92 – Interpretation (Financial Institutions) Section 93 - Application of Act 766 Section 94 - Taxation of retirement funds Section 95 - Retirement payments from retirement funds Section 96 – Interpretation (Retirement savings) Section 97 - Approval of charitable organisation Section 98 - Clubs and trade associations Section 99 - Building societies and friendly societies Section 100 - Contributions and donations to a worthwhile cause Section 101 -Resident person Section 102 - Change of residence Section 103 - Source of income and quarantining of foreign losses Section 104 - Source of amounts directly included and directly deducted Section 105 - Payments sourced from the country Section 106 – Interpretation (Residence and source) Section 107 – Principles of taxation (Permanent establishment) Section 108 - Activities, assets and liabilities of a permanent establishment Section 109 - Income or loss of a permanent establishment Section 110 – Interpretation (permanent establishment) Section 111 – Principles of taxation (Foreign source of income of a resident) Section 112 - Foreign tax credit Section 113 - Methods and time for payment Section 114 -Withholding by employer Section 115 - Withholding from investment returns Section 116 - Withholding from supply of goods, service fees and contract payments Section 117 - Statement and payment of tax withheld or treated as withheld Section 118 - Withholding certificate Section 119 - Final withholding payment Section 120 - Credit for non-final withholding tax Section 121 - Payment of tax by quarterly instalment Section 122 - Statement of estimated tax payable Section 123 - Statement of estimated tax payable not required Section 124 - Return of income Section 125 - Return of income not required Section 126 – Assessment Section 127 – Regulations Section 128 - Persons in a controlled relationship Section 129 – Company Section 130 - Domestic and excluded expenditure Section 131 - Financial instruments Section 132 - Derivative amount Section 133 - Interpretation Section 134 - Temporary concession Section 135 - Agreements affecting tax Section 136 - Repeals and savings Section 137 - Consequential amendments Section 138 - Transitional provisions Section 139 - Provisions for tax administration First Schedule - Tax Rates Second Schedule - Modified Taxation Third Schedule - Capital Allowance Fourth Schedule - Quantification of Benefits Fifth Schedule - Personal Reliefs Sixth Schedule - Temporary Concessions