Section 112 Nigeria Tax Act 2025

Section 112 of the Nigeria Tax Act 2025 is about Payment royalty. It provides as follows:

(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.