Petroleum revenue tax (PRT) – participator in more than one field – whether expenditure incurred on assets to tie-back wells in the first field to a platform in the second field to produce production gases for use in winning oil in the second field is deductible in computing the second field’s profits – Oil Taxation Act 1983, s 3(1)(a)
Citations:
[2009] UKFTT 356 (TC), [2010] SFTD 359, [2010] STI 628
Links:
Jurisdiction:
England and Wales
Taxes – Other
Updated: 17 October 2022; Ref: scu.409178