Policy paper

Petroleum Revenue Tax: cutting administration costs for the oil industry

This legislation simplifies the process for opting out of the Petroleum Revenue Tax (PRT) regime.

• From: HM Revenue & Customs
• Published: 23 November 2016

Documents

Petroleum Revenue Tax: cutting administration costs for the oil industry

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Draft clause

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Draft explanatory notes

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Details

The measure will simplify the process for opting out of the PRT regime. Companies will be able to remove their oil fields from the PRT regime simply by making an election to do so.

Published 23 November 2016