The Federal Inland Revenue Service (FIRS) held a stakeholder meeting on 19 September 2014 to sensitise Sole Risk and Marginal Field operators on tax compliance and transfer pricing issues. Returns under the Companies Income Tax Act are now required in addition to Petroleum Profit Tax returns which are to be based on equity interest rather than economic interest.

Read our tax alert uploaded below for further insights.

Download PwC Tax Alert – Sole Risk and Marginal Field Tax Returns_Sep 2014