Section 17, No. The Extractive Industries Revenue Act 2018No. The Extractive Industries Revenue Act 2018

(1) With respect to the year of assessment in which aperson commences mining operations under a mining licence and for the purposes of allowing a deduction for exploration expenditure incurred during the seven years prior to the commencement, the deduction allowed under paragraph (f) of subsection (1) of section 16 shall be equal to the amount by which relevant deductible expenditure exceeds relevant gross receipts. (2) No amount shall be deductible under paragraph (f) of subsection (1) of section 16 unless the relevant deductible expenditure and relevant gross receipts have been audited and certified as correct by the Commissioner-General. Year of Commen- Cement