NIGERIA LNG (FISCAL INCENTIVES, GUARANTEES AND ASSURANCES) ACT

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LAWS OF THE FEDERATION OF NIGERIA

NIGERIA LIQUEFIED NATURAL GAS, LNG (FISCAL INCENTIVES, GUARANTEES AND ASSURANCES) ACT

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ARRANGEMENT OF SECTIONS

1. Pioneer status.
2. Tax relief period.
3. Liability to companies tax.
4. Dollar accounting.
5. Interest on loans.
6. Withholding tax on interest, dividends, etc.
7. Exemption from customs duties.
8. Restriction on set off of capital allowance.
9. Guarantees and assurances.
10. Interpretation.
11. Short title.

SCHEDULES

FIRST SCHEDULE – Early termination of tax relief period

SECOND SCHEDULE – Guarantees and assurances to Nigeria LNG limited and its shareholders

NIGERIA LIQUEFIED NATURAL GAS (FISCAL INCENTIVES, GUARANTEES AND ASSURANCES) ACT

An Act to confer pioneer status on the Nigeria LNG Limited and to exempt the company from certain taxes, customs duties, other levies and the provisions of the Pre-Shipment Inspection of Imports Act and to provide for the guarantees and assurances by the Federal Government to the company and its shareholders.

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 [Commencement.] [24th April, 1989]       

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1. Pioneer status

(1)    The registered company known as the Nigeria LNG Limited (hereafter in this Act referred to as “the Company”) shall be regarded as a pioneer company within the provisions of the Industrial Development (Income Tax Relief) Ac

ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED TO 2018)