Section 104 Nigeria Tax Act 2025

Section 104 of the Nigeria Tax Act 2025 is about Determination of petroleum profits tax. It provides as follows:

(1) The petroleum profits tax payable under a production sharing contract shall be determined in accordance with Part II of chapter three of this Act, provided that the petroleum profits tax rate applicable to the contract area as defined in the production sharing contracts shall be 50% of chargeable profits for the duration of the production sharing contracts.

(2) Nothing contained in this Part shall be construed as having exempted any holder or contractor from the payment of any other tax, duty or levy imposed by any Federal, State or Local Government, or Area Council Authority.