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Nigeria Tax Act 2025 · Chapter 3 · Part III

Section 111Payment royalty

(1)
The holder shall pay all royalty, concession rentals and petroleum profits tax on behalf of itself and the contractor out of the allocated royalty oil and tax oil.
(2)
The Service shall issue separate tax receipts in the names of the holder and the contractor for the respective amounts of petroleum profit tax paid on behalf of the holder and contractor in accordance with the terms of the production sharing contract.
Cite as: Nigeria Tax Act 2025, section 111

Source: Nigeria Tax Act, 2025 (Act No. 7 of 2025), Official Gazette No. 117, Lagos, 26 June 2025. General information, not legal advice.