HMRC updates policy paper on oil and gas taxation
Friday, 27 July 2018 12:55
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HM Revenue & Customs has updated its policy paper on "Oil and
gas taxation: transferable tax history and retention of
decommissioning expenditure." The measure provides a transferable
tax history (TTH) mechanism for oil and gas companies operating on
the UK Continental Shelf (UKCS) and amends the Petroleum Revenue
Tax (PRT) rules on retained decommissioning costs.
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