National Archives / National Archives of Nigeria

Supplement to Official Gazette

PETROLEUM PROFITS TAX (AMENDMENT) (No. 2) DECREE 1979 Decree No. 24 [1st Jlpri/1977] THE FEDERAL MILITARY GOVERNMEt"T hereby decrees as follows : 1. The PetroleumProfits Tax Act 1959 is hereby amended as follows : (a) for paragraph (e) of section 10 (1) there shall be substituted the following, that is . "(e) (i) any expenditure including intangible drilling costs directly incurred in connection with drilling an appraisal or development well but excluding any expenditure clirectly incurred on the first two appraisal wells referred to in sub-paragraph (ii) of this paragraph, and excluding expen…