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(1) For every year of assessment every person engaged in petroleum operations whether or not chargeable with tax under this Law shall deliver to the Commissioner annual returns covering such year of assessment within four months after the end of such year of assessment.

(2) Every annual return delivered under subsection (1) of this section shall contain the following statements:

(a) a copy of the certified statement of accounts of such petroleum operations for such year of assessment audited before submission by an accountant who shall be a Chartered or Practising Accountant within the meaning of the Chartered Accountants Act, 1963 (Act 170);

(b) an estimate of the tax due on the chargeable income computed;

(c) a statement containing the full names, addresses, nationality, salaries, wages, fees, allowances and other remuneration of his employees in Ghana;

(d) a statement of the amount of production of petroleum during such year of assessment and the share of such person in that production; and

(e) a statement of the price paid for the sale or export without sale of that person's share of petroleum produced in that year of assessment in accordance with section 2 of this Law.

(3) Annual returns delivered under subsection (1) of this section shall be accompanied by a signed declaration that the particulars given in the annual returns or component statements are true and complete.

(4) Every person chargeable with tax under this Law shall deliver along with his annual returns a remittance in settlement of his tax liability as computed in his returns.

(5) Where there is a dispute as to the World Market Price applicable in respect of such person's share of petroleum produced for any period in such year of assessment a return indicating the amount of chargeable income shall be computed by such person on the basis of the contractor's proposed price:

Provided that in the event of final determination of the price in accordance with the terms of a petroleum agreement there shall pursuant to this section be submitted fresh returns reflecting the determined price and any adjustments and payments of tax due in respect thereof. Such returns shall be submitted within forty-five days of the final determination of the price.