Petroleum Profits Tax Act 1959 - 1824 Words

dates they were formulated and amended. The Petroleum Profits Tax Act 1959 as amended by Petroleum Profits Tax Act No. 15 of 1973 (Part 111) section 2 states thus - â€Å"for the purposes of subsection (1) (b) of the value of any chargeable oil so disposed of shall be taken to be the aggregate of† (b) The value of that oil as determined for royalty, in accordance with the provisions of any enactment applicable thereon and any financial agreement; alternatively, (c) Arrangement between the Federal Government of Nigeria and the company. This act was enacted in 1959 before the Nigerian independence and later amended in 1973. The Petroleum Act of 1969, Section 1 Schedule 1 states thus: - (a) the entire ownership and control of all petroleum in, under or upon any lands to which this section applies shall be vested in the state. This section applies to all land (including land covered by water) which (a) Is in Nigeria, or (b) Is under the territorial waters of Nigeria, or (c) forms part of the continental shelf. Furthermore, the Petroleum (Drilling and Production) Regulations 1969 section 1(1) states that - â€Å"every application for an oil exploration licence, oil prospecting licence or oil mining lease shall be made to the Minister in writing on the appropriate form as set out in the schedule to these regulations† this particular act has made it possible for ministers in Nigeria to act in ways that more of self-interest than in the interest of the general public. It is one actShow MoreRelatedAlaska Is A Great Wealth Of Resources Essay1008 Words   |  5 Pagescontinental United States. Alaska, previously occupied by Russia, was purchased by the American government for the sum of 7.2 million US Dollars in 1867. It became an official state in the union on January 3rd 1959. (Hutchinson, Par. 24) For some intrepid souls, this is a land of opportunity. Petroleum, arguably the most extensive and valuable natural resource available in Alaska, accounts for approximately 80% of Alaska’s state revenue. (Hutchinson, Par. 21) Alaska is unique in this way alone. Most otherRead MoreSocial Responsibility For The Welfare Of Society Essay2190 Words   |  9 Pagesbase for a close alliance and discussion with the community, as well as assist the community in capacity building in all aspects of social and economic development . In Nigeria for instance, Shell Petroleum is the only oil company that is a member of the WBCSD and as such, the activities of Shell Petroleum Development Company (SPDC) ought to be situated within sustainable development and corporate social responsibility in the Niger Delta where it is located. The Organization for Economic CooperationRead MoreMarketing Plan of Lafarge2281 Words   |  10 PagesCement WAPCO Nigeria Plc is a cement manufacturing company in Nigeria owned by Lafarge SA, Paris. Base in the South West of Nigeria, Lafarge Cement WAPCO Nigeria Plc is the first and major cement manufacturing company in Nigeria and was established in 1959 with a 60% equity shares owned by Lafarge Group. It has plants in Shagamun and Ewekoro with annual production capacity of 4.5 metric tones (WAPCO, 2012). 1.1 Product Lafarge Cement WAPCO Nigeria Plc manufactures Elephant Portland Cement (also calledRead MoreThe Cost Of Tax Losses2463 Words   |  10 Pagesnot have to pay income tax. The main aim of the report is to make comparison of Losses in terms of tax among three countries New Zealand, Australia and Nepal 2. New Zealand: Expenses and losses are deductible to the extent that they are incurred in the acquisition of assessable income or incur in carrying the business for that purpose, provided that they are not a capital or private or domestic nature or fact relating to the gaining of exempt income. The treatment of tax losses is a crucial partRead MoreOil and Gas4942 Words   |  20 Pagesdevelopment of accounting standard to guide the preparation and presentation of the financial statement so as to provide a guide on accounting rules, procedures, and reporting formats to be followed by companies operating in the petroleum industry in Nigeria. Petroleum operation is divided into two broad areas namely upstream and downstream activities. 1.1 UPSTREAM ACTIVITIES: Upstream activities involve the acquisition of mineral interest in properties, exploration (including prospecting) andRead Moreâ€Å"Ratio Analysis and Comparative Study of Financials of Iocl with Its Competitors†13708 Words   |  55 Pagesis administratively controlled by Indias Ministry of Petroleum and Natural Gas, a government entity that owns just over 90 percent of the firm. Since 1959, this refining, marketing, and international trading company served the Indian state with the important task of reducing Indias dependence on foreign oil and thus conserving valuable foreign exchange. That changed in April 2002, however, when the Indian government deregulated its petroleum industry and ended Indian Oils monopoly on crudeRead MoreTaxation as an Instrument of Economic Growth and Development in Nigeria13527 Words   |  55 PagesREVIEW OF RELEVANT LITERATURE 2.1 VARIOUS DEFINITIONS OF TAX 18 2.2 TYPES OF TAX IN NIGERIA 20 2.3 LIST OF APPROVED TAX FOR EACH TIER 21 TIER OF GOVERNMENT 2.4 TAXATION THEORY 24 2.5 NATURE AND SCOPE OF TAXES 27 2.6 TAX REFORMS IN NIGERIA Read MoreU.s. Federal Gasoline Tax1861 Words   |  8 PagesAbstract Increasing the United States federal gasoline tax is currently a debated issue as a means of curtailing dependency on foreign oil and improving the country’s environment. An increases, however, would be regressive and would place another hardship on citizens who already feel as if taxes are too high. Because of the unpopularity of such a tax, nationally elected officials have not seriously floated the plan as means of raising revenue, but it could be used as a means to progressively cutRead MoreWhy Do We Need The Oil Producing Community? Does This Look Like Saudi Arabia? Essay7139 Words   |  29 Pagesways to reformulate the existing legal framework, putting in place an effective management and enforcement of these CSR laws and policies; subsequently enabling the relevant agencies to hold oil and gas producing companies to account for engaging in acts of impunity thus providing a solution to the current failings in the Niger Delta region with its attendant debilitating co nsequences. CHAPTER ONE The concept of corporateRead MoreSWOT Analysis of Nigerian Business Environment24237 Words   |  97 Pagesinformation needed to establish renewable energy in rural and urban areas in Nigeria. The Nigerian government is encouraging energy companies to invest in the country and special energy policies for foreign investors have been organized, such as a tax reduction plan for energy investors, and the relaxing of energy policy. Nigeria is a nation with great potential for renewable energy solutions, such as sunlight which might be productive for solar power solution, and plentiful bio-waste for biomass

Comparison Within Clarissa Dalloway Free Essays

Virginia Woolf creates interesting contrast within the character of Clarissa Dalloway using stream of consciousness narration in her novel Mrs. Dalloway. Clarissas inner thoughts reveal a contrast between her lack of attraction to her husband due to her lesbian feelings and her fear of loosing him as a social stepping stone. We will write a custom essay sample on Comparison Within Clarissa Dalloway or any similar topic only for you Order Now These contrasts and many others can be seen throughout the novel using the literary device of stream of consciousness narration. Clarissas character reveals to us early in the book her lack of attraction to her usband. This revelation can be seen in the passage that states: †¦through some contraction of this cold spirit, she had failed him†¦she could see what she lacked†¦it was something central which permeated†¦. The cold spirit that she talks of is her sexuality, in being attracted to women, and her lack of understanding why she is this way. This is the main reason for her lack of attraction. She feels that she has let him down because she cannot complete her duties as his wife. Clarissa had lost both a sexual relationship and exual attraction with her husband since the birth of her teenage daughter Elizabeth: †¦she could not dispel a virginity preserved through childbirth which clung to her like a sheet. Clarissa tells us of her true sexuality as she remembers her girlhood friend Sally Seton. Sally is the only person that Clarissa has ever had any real passionate feelings for. But this question of love, this falling in love with women. Take Sally Seton; her relation in the old days with Sally Seton. Had not that, after all, been love Although Sally held er heart, her homosexual feelings were not socially acceptable. Clarissa is therefore obliged to enter into a marriage to Richard Dalloway for social purposes. A contrast to Clarissas lack of attraction to her husband is seen in her fear of loosing him. Richard provides for her a stepping stone for her to be the socialite that she strives to be. When Richard is invited to a lunch with Lady Bruton, a twinge of fear is evident in Clarissa that she is loosing her husband: Fear no more the heat o the sun; for he shock of Lady Bruton asking Richard to lunch without her made the moment which she had stood shiver†¦. Without him, she would be nothing in society, so Clarissa is scared of loosing him even though she has no attraction towards him. A contrast in the deeper self of Clarissa Dalloway can be seen in the stream of consciousness narration in Mrs. Dalloway. She reveals her lack of attraction for her husband and her fear of loosing him through her inner thoughts. This provides for us the ability to see the weaknesses of Clarissa and many of the other characters. How to cite Comparison Within Clarissa Dalloway, Essay examples

Marketing and Strategy Health Affairs

Questions: 1. Provide a brief summary of article and the initiative under review or discussion (besure to include the title of the article, the direct link and the hub categoryassigned)2. Identify and discuss the explicit Marketing Environmental factor/force which was thecatalyst for the Marketing Initiative. Include in your answer whether this a Micro orMacro factor.3. Provide comments on how well you consider the initiative responded to the changein the Marketing Environment (including reasons why) and whether it would provideto be successful in establishing a competitive advantage for the organisation. Answers: Article: TELSTRA MARKETING JOBS INFLUENCED IN LATEST ROUND OF RESTRUCTURING (Marketing Magazine. (2016).Telstra marketing jobs impacted in latest round of restructuring. [online] Available at: https://www.marketingmag.com.au/news-c/telstra-restructuring-marketing-roles/ [Accessed 27 Oct. 2016].) 1. The particular article highlights the restructuring process of Telstra for enhancing the business opportunities in an efficient manner. By analyzing the article, it can be assessed that the marketing roles at Telstra would not be a part of the staffing structure due to the imbalanced situation at the telco (Marketing Magazine. 2016). Over the past few years, the telecommunication market has been expanding their business across the foreign market in a robust manner. In this article, the restructuring of Telstra has been discussed in a brief way. Telstra being the telecommunication giant has been trying to restructure their business opportunities for obtaining enormous growth in the industry. The telecommunication giant called Telstra had included the redundancies in the marketing department. 2. By analyzing the microenvironment of the company, it can be assessed that the particular company has been restructuring its business for the enhancement of the trade in future. The broad set of repositioning could be highlighted through the cuts at the teleco. For restructuring the business, the particular company has planned to move or retrenchment hundred of roles from the organization (Farooq and Farooq 2014). Consequently, it would affect the business badly. On the other hand, other 15 jobs would be affected by the implementation of this particular process in the business. The management of the organization has been assuming that the particular process would make a huge transition in the business over the next seven weeks. On the contrary, the particular company has discussed that the organization would not confirm specific numbers of details of the roles and responsibilities involved in the business. However, the spokesperson has discussed that marketing that a restructuring of the retail marketing team is underway. The changes on the retail marketing team have already been announced for aligning the activities with the business priorities. By analyzing the restructuring process of the business, it can be assessed that the team would be restructured around six key functions including operations, channel marketing, brand marketing, consumer mobility marketing, consumer wireline marketing and the business market. 3. For gaining the competitive advantages in the business, the organization has taken the initiatives of restructuring the business in an efficient manner (Gandolfi 2013). On the other hand, the particular article has highlighted the importance of reformation of the business. The particular restructured process may take a long time. By gaining the competitive advantages, the particular organization could obtain the high sales revenues in the business. Over the past few years, the telecommunication sector has been experiencing high growth in the business (Iglehart 2013). Hence, Telstra has been trying to reform their business in order to obtain the remarkable achievement within the certain timeline. In this article, it has been discussed that the existing team would be organized in six different categories. According to the management, the reformation of the retail department would be the best possible solution for enhancing the business opportunities in an efficient manner. However, the structural change would cause the retrenchment for hundreds of roles within the business, which might result in damaging the brand values of the company. References: Iglehart, J.K., 2013. A new day dawns for workforce redesign.health affairs,32(11), pp.1870-1870. Gandolfi, F., 2013. Workforce downsizing: Strategies, archetypes, approaches and tactics.Journal of Management Research,13(2), p.67. Farooq, M. and Farooq, O., 2014. Organizational justice, employee turnover, and trust in the workplace: A study in South Asian telecommunication companies.Global Business and Organizational Excellence,33(3), pp.56-62. Marketing Magazine. (2016).Telstra marketing jobs impacted in latest round of restructuring. [online] Available at: https://www.marketingmag.com.au/news-c/telstra-restructuring-marketing-roles/ [Accessed 27 Oct. 2016].