Nigeria: Guidance on executive order providing new tax incentives for petroleum sector
The order provides for gas credits and allowances for non-associated gas greenfield developments.
The order provides for gas credits and allowances for non-associated gas greenfield develo
The Federal Inland Revenue Service (FIRS) issued two information circulars regarding implementation of the provisions of Executive Order No 40 (Oil and Gas Companies (Tax Incentives, Exemptions, Remission etc.) 2024) which was signed by the president on 28 February 2024. Read TaxNewsFlash
The order provides for gas credits and allowances for non-associated gas (NAG) greenfield developments in the onshore and shallow waters and gas utilization investment allowance for midstream projects.
Read a May 2024 report prepared by the KPMG member firm in Nigeria
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