Section 10 — Suspension, deregistration and cancellation of tax identification

(1) Where a taxable person temporarily ceases to carry on a trade or business in Nigeria, the taxable person shall notify the relevant tax authority of its intention to suspend its registration for tax purposes within 30 days of such temporary cessation of trade or business.

(2) The relevant tax authority shall classify the Tax ID as dormant and place it on suspension.

(3) Where a taxable person permanently ceases to carry on a trade or business in Nigeria, the taxable person shall notify the relevant tax authority of its intention to deregister for tax purposes within 30 days of such cessation of trade or business.

(4) Where a taxable person permanently ceases to carry on a trade or business, the relevant tax authority shall deregister the Tax ID.

(5) The relevant tax authority shall deregister or cancel a Tax ID where it is satisfied that—

(a) the taxable person is deceased, or, in the case of a body corporate, including a government ministry, department or agency is wound up or dissolved; and

(b) the person to whom the Tax ID was issued has another one.

(6) A taxable person whose Tax ID has been suspended, shall, upon reapplication, be re-issued with the same Tax ID.