National Archives / National Archives of Nigeria

Supplement to Official Gazette

PETROLEUM PRO ITS TAX (AMENDMENT) DECREE 1970 Decree No. 22 [See sectio11s 1 (2) and 2 (2)] Commitment. THE FEDERAL ILITARY GOVERNMENT hereby decrees follows: 1.-(1) For subsecti (1) of section 14 ofthe Petroleum Profits Tax A F 1959 (hereinafter in this Decree referred to as "the Act of 1959") the shall be substituted the £ lowing new subsection, that is "(1) Subject to the rovisions of this section, the assessable profits any company for any ac ounting period shall be the amount of the adjuste profit of that period aft r the deduction of (a) the amount o any loss incurred by that company dur…