Section 96 Nigeria Tax Act 2025

Section 96 of the Nigeria Tax Act 2025 is about Exclusion of certain profits. It provides as follows:

Where a company engaged in petroleum operations is engaged in the transportation of chargeable oil by ocean going oil-tankers operated by or on behalf of the company from Nigeria to another territory, adjustments shall be made in computing an adjusted profit or a loss to exclude any profit or loss attributable to such transportation.