Section 110 Nigeria Tax Act 2025 Section 110 of the Nigeria Tax Act 2025 is about Allocation of tax oil. It provides as follows: Tax oil shall be allocated to the Commission or the holder, in such quantum as shall generate an amount equal to the actual petroleum profit tax liability payable during each month.

Section 109 Nigeria Tax Act 2025 Section 109 of the Nigeria Tax Act 2025 is about Allocation of cost oil. It provides as follows: (1) Cost oil shall be allocated to the contractor in such quantum as shall generate an amount sufficient for the recovery of operating costs in oil prospecting licences as defined in…

Section 108 Nigeria Tax Act 2025 Section 108 of the Nigeria Tax Act 2025 is about Allocation of royalty oil. It provides as follows: Royalty oil shall be allocated to the Commission or the holder, in such quantum as shall generate an amount equal to actual royalty payable during each month and the concession rental…

Section 107 Nigeria Tax Act 2025 Section 107 of the Nigeria Tax Act 2025 is about Computation of petroleum profit tax. It provides as follows: Computation of estimated and final petroleum profit tax shall be made in the US dollars on the basis of the US dollar returns filed.

Section 106 Nigeria Tax Act 2025 Section 106 of the Nigeria Tax Act 2025 is about Royalty payable in respect of deep offshore production sharing contracts. It provides as follows: Royalty shall be determined and payable in accordance with the provisions of the Seventh Schedule to the Petroleum Industry Act.

Section 105 Nigeria Tax Act 2025 Section 105 of the Nigeria Tax Act 2025 is about Determination of investment tax allowance. It provides as follows: Where a holder and a contractor have incurred any qualifying capital expenditure wholly and exclusively for the purposes of petroleum operations carried out under the terms of a production sharing…

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…

Section 103 Nigeria Tax Act 2025 Section 103 of the Nigeria Tax Act 2025 is about Duration of oil prospecting licence. It provides as follows: The duration of an oil prospecting licence relating to production sharing contracts in the deep offshore and inland basin shall be determined by the Minister charged with responsibility for matters…

Section 102 Nigeria Tax Act 2025 Section 102 of the Nigeria Tax Act 2025 is about Production sharing contracts. It provides as follows: Notwithstanding anything to the contrary contained in this Act or any other law, the provisions of this Part shall apply to deep offshore and inland basin production sharing contracts that are yet…

Section 101 Nigeria Tax Act 2025 Section 101 of the Nigeria Tax Act 2025 is about Partnership. It provides as follows: (1) A person, other than a company, who engages in petroleum operations either on his own account or jointly with any other person or in partnership with any other person with a view to…