Section 100

(1) Where, for any accounting period of a company, there is a sale
Additional
of chargeable oil between connected persons, or disposal of chargeable oil chargeable
between connected or unconnected persons, and the amount of the charge- tax payable
in certain
able tax for that period, calculated in accordance with the provisions of this
circum-
Part other than this section, is less than the amount prescribed in subsection
stances
(2) , the company shall pay an additional amount of chargeable tax for that
period, equal to the difference between those two amounts.
(2) The amount referred to in subsection (1) is, for any accounting period
of a company, the amount which the chargeable tax for that period, calculated
in accordance with the provisions of this Part, shall be, if the reference in
section 91 (1) (a) and (b) of this Act to the proceeds of sale were a reference
to the amount obtained by multiplying the number of barrels of that crude oil
determined at the measurement point by the fiscal oil price per barrel.
(3) For the purpose of this section, the total value of the chargeable oil
for a company shall be the sum of the multiplications of volume and fiscal oil
price as established by the Commission at the measurement point.
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(4) The whole of any additional chargeable tax for crude oil payable by a
company under this section for any accounting period shall be payable
concurrently with the final instalment of the chargeable tax payable for that
period.
(5) Where there is no fiscal oil price established for a crude oil stream,
the Commission shall establish fiscal price for such stream and the fiscal oil
price per barrel established shall bear a fair and reasonable relationship –
(a) to the established fiscal oil price of Nigerian crude oil streams of
comparable quality and specific gravity; or
(b) where there are no such Nigerian crude oil streams of comparable
quality and specific gravity, it shall bear a fair and reasonable relationship to
the official selling prices at main international trading centres for crude oil
of comparable quality and gravity, due regard being had in either case to
freight differentials and other relevant factors.
(6) Notwithstanding any other provision in this Part, where a particular
company's chargeable oil is exported from Nigeria or sold locally by another
company, that chargeable oil for the purpose of this Part shall be deemed to be
exported from Nigeria or sold by that particular company.