Section 20, No. The Extractive Industries Revenue Act 2018No. The Extractive Industries Revenue Act 2018

(1) A mineral right holder conducting processing ofminerals shall be subject to income tax for those activities (2) Paragraph (d) of section 6, paragraphs (d) and (e) of subsection (1) of section 7 and section 10 shall applyin calculating a mineral right holder’s income from a business that includes processing of minerals, but only to the extent the expenses and fund relate to that processing. (3) Paragraph (c) of subsection (1) of section 32 and section 32A of the Income Tax Act, 2000 shall apply to allowable losses of a person from conducting a business that includes processing of minerals so that tax payable may be reduced to 15 percent of the tax that would be due if losses were not carried forward. PART III–PETROLEUM