petroleum revenue tax


petroleum revenue tax
petroleum revenue tax UK US noun [C]
TAX, ECONOMICS, NATURAL RESOURCES a tax on petroleum in relation to its value: »

Petroleum revenue tax has risen by over 60%.


Financial and business terms. 2012.

Look at other dictionaries:

  • Petroleum revenue tax — (PRT) is a direct tax collected in the United Kingdom. It was introduced under the Oil Taxation Act 1975, soon after Harold Wilson s Labour government returned to power and in the immediate aftermath of the 1973 energy crisis, and was intended to …   Wikipedia

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  • petroleum revenue tax — PRT A tax on the profits from oil and gas extraction in the UK first imposed in 1975. This tax was the principal means enabling the UK government to obtain a share in the profits made from oil in the North Sea. It has been abolished for oilfields …   Big dictionary of business and management

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  • revenue — 01. For the first time since we started our new business 3 months ago, our [revenue] is greater than our expenses. 02. Tax [revenues] have been much higher than expected this year, resulting in a large budget surplus. 03. You must declare any and …   Grammatical examples in English

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