What are the principal types of tax allowance? Should extractive industries benefit from tax allowances or incentives beyond those available to other sectors? What do you understand by recoverable costs (in production sharing) and tax deductions (in profits tax systems)?

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Types of Tax Allowances Tax allowances can be broadly categorized into two main types 1 Capital Allowances These allowances enable businesses to claim tax relief on the cost of acquiring certain asset... View the full answer