- 4 Marks
ATAX – Nov 2016 – L3 – Q6a – Petroleum Profits Tax (PPT)
Explains concepts of Associated Gas and Downstream Activities under the Petroleum Profits Tax Act.
Question
The administration of the Petroleum Profits Tax Act is under the charge and management of the Federal Inland Revenue Service with respect to Petroleum Profits Tax Act Cap P13 LFN 2004.
You are required to explain:
i) Associated Gas (2 Marks)
ii) Downstream Activities (2 Marks)
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