- 4 Marks
AT – May 2018 – L3 – SC – Q5a – Tax Administration and Dispute Resolution
Advisory on the limits of the Petroleum Profits Tax Act regarding information disclosure to foreign entities and Auditor-General duties.
Question
Section 5 of the Petroleum Profits Tax Act Cap P.13 LFN 2004, specifies that:
“Every person having possession of or control over any documents, information, returns or assessment, lists or copies of such lists relating to tax or petroleum operations or the amount and value of chargeable oil won by any company who at any time communicates or attempts to communicate such information or anything contained in such documents, returns, lists, or copies to any person, shall be guilty of an offense.”
Required:
Advise on the extent to which the provision of the Act can be relied upon on issues relating to:
- Disclosure of information to authorised officers of foreign countries who have a double taxation agreement with Nigeria.
(2 Marks) - The performance of the duties of the Auditor-General for the Federation or any officer authorised by him.
(2 Marks)
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