Description: Notwithstanding the provisions of section 3(1) of this Act, where a resident derives income from a source outside Nigeria and the income is brought into Nigeria through Government approved channels, he shall be allowed a tax credit against the tax payable by him but the tax credit shall not exceed the proportion of his total tax for the year of assessment which that income derived from outside and brought into Nigeria bears to his aggregate income chargeable to tax in Nigeria.

Eligibility Criteria: i. Income source must be outside Nigeria derived by a Nigerian resident ii. The channel of repatriation of income into Nigeria must be government approved channel