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Petroleum Profit Tax

Applicable tax law- Petroleum Profits Tax Act. Persons subject to the Petroleum Profits Tax:

  • Companies engaged in petroleum exploration and production operations in Nigeria (up-
    stream operations)
  • A person resident in Nigeria employed in the management of the petroleum operations
    carried on by a non-resident company
  • The liquidator, receiver, or agent of liquidator or receiver of any company carrying on petroleum operations in Nigeria.
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