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

HTML

Draft clause

PDF, 50.5 KB, 1 page

This file may not be suitable for users of assistive technology.

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Draft explanatory notes

PDF, 141 KB, 1 page

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

Related content