ARTICLE
7 October 2014

Sole Risk And Marginal Field Operators Are Now Required To File CIT Returns And Compute PPT According To Equity Interest

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PwC Nigeria

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PwC Nigeria is one of the leading professional services ?rms in Nigeria with of?ces in Lagos, Abuja and Port Harcourt, with over 1,000 staff and 31 resident partners. We are committed to serving as a force for integrity, good sense and wise solutions to the problems facing businesses and the capital markets. We are guided by one promise – to do what is right, be it with our people, clients, community, or environment.
FIRS held a stakeholder meeting on 19 September 2014 to sensitise Sole Risk and Marginal Field operators on tax compliance and transfer pricing issues.
Nigeria Tax

The Federal Inland Revenue Service (FIRS) held a stakeholder meeting on 19 September 2014 to sensitise Sole Risk and Marginal Field operators on tax compliance and transfer pricing issues. Returns under the Companies Income Tax Act are now required in addition to Petroleum Profit Tax returns which are to be based on equity interest rather than economic interest.

Read our tax alert uploaded below for further insights.

Download PwC Tax Alert - Sole Risk and Marginal Field Tax Returns_Sep 2014

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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