Section 72 — Tax clearance certificate

(1) Whenever the relevant tax authority is of the opinion that tax assessed on profits or income of a person has been fully paid or that no tax is due on such profits or income, it shall issue a tax clearance certificate to the person within two weeks of the demand for such certificate by that person or, if not, give reasons for the denial.

(2) Any Ministry, department or agency of Government or any commercial bank with whom any person has any dealing with respect to any of the transactions mentioned in subsection (4) of this section, shall demand from such person a tax clearance certificate of three years immediately preceding the current year of assessment.

(3) A tax clearance certificate shall disclose in respect of the last three years of assessment—

(a) total profits or chargeable income;

(b) tax payable;

(c) tax paid; and

(d) tax outstanding or alternatively a statement to the effect that no tax is due.

(4) The provision of subsection (2) of this section shall apply in relation to—

(a) application for certificate of occupancy;

(b) approval of building plans;

(c) application for award of contract by government or its agencies;

(d) application for firearms licence;

(e) application for import and export licence; and

(f) application for trade licence.

(5) Where a person is able to produce evidence that he suffered tax by deduction at source and that the assessment year to which the tax relates falls within the period covered by the tax clearance certificate, such a person may not be denied a tax clearance certificate:

Provided that any balance of tax after credit has been given for the tax so deducted has been fully paid.