TAX 426: Oil, Gas and other Mineral’s Taxation I

Learning Outcomes

At the end of the course, the students should be able to:

  1. expound on taxation relating to oil and gas and all aspect of petroleum profit tax;
  2. describe tax in respect of the upstream and downstream sectors;
  3. justify the application of CITA provisions and the incentives available;
  4. analyse the petroleum laws, ownership of concession, and types of contracts; and
  5. assess the impacts of the Organisation of Petroleum Exporting Countries (OPEC), solid minerals etc.
Course Contents

Oil and Gas Taxation. Petroleum Profit Tax in respect of upstream companies. Companies’ income Tax in respect of downstream companies. Other mineral Taxation. Application of CITA provisions. Incentives available. Peculiarities of the industry and applicable tax provisions. Petroleum laws. Ownership of concession, type of contracts: joint venture, productions sharing, service contracts. Agencies for the control of petroleum operations. Fiscal arrangement, rent, royalty, compensation, impact of organization of petroleum exporting countries (OPEC). Solid mineral etc.