NIGERIA LNG (FISCAL INCENTIVES, GUARANTEES AND ASSURANCES) ACT

Section 2: Tax relief period.

1989Section 2 of 11Federal Republic of Nigeria

Notwithstanding the provisions of section 10 of the Industrial Development (Income Tax Relief) Act, the tax relief period of the Company shall commence on the production day of the Company and shall continue for a period of ten years, so however that the tax relief period shall terminate at the first anniversary date after the first 5 years when the cumulative average sales price of liquefied natural gas reaches US 3 dollars/mmbtu as calculated in the First Schedule to this Decree in accordance with which such calculation shall only be made annually at each anniversary date.
[First Schedule.]

Cite this section

Section 2, NIGERIA LNG (FISCAL INCENTIVES, GUARANTEES AND ASSURANCES) ACT (1989).

https://repo.podus.ai/laws/nigeria-lng-fiscal-incentives-guarantees-and-assurances-act/section/2/