Subject to the express provisions of this Law, and without prejudice to the deduction of expenses provided for in section 3 of this Law for the purpose of ascertaining the chargeable income arising from petroleum operations of any person no deduction shall be allowed in respect of:

(a) domestic or private expense;

(b) any disbursement or expenses not being wholly, exclusively and necessarily laid out or expended for the purpose of petroleum operations;

(c) any capital withdrawn or any sum employed or intended to be employed as capital;

(d) any capital employed in improvements;

(e) any sum recoverable under an insurance policy or contract of indemnity;

(f) rent of or cost of repairs to any premises or part of premises not paid or incurred for the purposes of petroleum operations;

(g) any amounts paid or payable in respect of any income tax, profits tax or other similar tax whether charged within Ghana or elsewhere;

(h) the depreciation of any fixed assets including premises, buildings, structures or works of a permanent nature;

(i) any contribution to a pension, provident or other similar fund not within the terms of section 3 of this Law.