AN ENUMERATION OF THE TAX PROVISIONS IN THE PETROLEUM INDUSTRY ACT 2021

President Muhammadu Buhari on 16th August, 2021 signed the Petroleum Industry Bill (PIB) 2021 into law. The Act principally provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

This piece is directed at illuminating the changes and innovations heralded by the Petroleum Industry Act 2021 as it relates to taxation.

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