SolvedPART I PETROLEUM REVENUE TAX
From legislation.gov.uk
Contents
- Section 1 Petroleum revenue tax.
- Section 2 Assessable profits and allowable losses.
- Section 3 Allowance of expenditure (other than expenditure on long-term assets and abortive exploration expenditure).
- Section 4 Allowance of expenditure on long-term assets.
- Section 5 Allowance of abortive exploration expenditure.
- Section 5A Allowance of exploration and appraisal expenditure.
- Section 5B Allowance of research expenditure.
- Section 6 Allowance of unrelievable loss from abandoned field.
- Section 7 Relief for allowable losses.
- Section 8 Oil allowance.
- Section 9 Limit on amount of tax payable.
- Section 9A Operating expenditure incurred while section 9 applies.
- Section 10 Modification of Part I in connection with certain gas sold to British Gas Corporation.
- Section 11 Application of Provisional Collection of Taxes Act 1968.
- Section 12 Interpretation of Part I.
- Section 12A Date of delivery or appropriation: shipped oil not sold at arm's length