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TAX 423 Oil and Gas Taxation II

HND2 levelManagement & Administration15 topics

TAX 423 covers 15 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Petroleum profit tax system
  2. Cost classification
  3. Joint venture and production sharing
  4. Memorandum of understanding in petroleum operations
  5. Upstream and downstream operations
  6. PPT assessment, collection, objection and appeal
  7. Offences and penalties for non-compliance
  8. Chargeable and assessable income/tax
  9. Accounting date of petroleum companies
  10. Capital allowance in petroleum profit tax
  11. Petroleum investment allowance
  12. Balancing allowance and balancing charge
  13. Computation of petroleum profit tax
  14. Posted price and chargeable crude oil valuation
  15. Value of natural gas and domestic crude disposal proceeds

A sample from this course

One topic, as StudyPath teaches it.

Petroleum profit tax system

The Petroleum Profit Tax (PPT) system is the principal tax levied on the profits of petroleum companies operating in Nigeria. Mastering its calculation, exemptions, and the interaction with other petroleum taxes (e.g., Petroleum Consumption Tax, Petroleum Revenue Tax) is essential for the Oil and Gas Taxation II exam, as it tests both conceptual understanding and practical computation skills.

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