- 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.
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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
petroleum revenue tax — PRT A tax on the profits from oil exploration and mining occurring under the authority of licences granted in accordance with the Petroleum (Production) Act (1934) or the Petroleum (Production) Act (Northern Ireland) (1964). This tax was the… … Accounting dictionary
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
Petroleum industry — The distribution of oil and gas reserves among the world s 50 largest oil companies. The reserves of the privately owned companies are grouped together. The oil produced by the supermajor companies accounts for less than 15% of the total world… … Wikipedia
tax — ▪ I. tax tax 1 [tæks] noun [countable, uncountable] TAX an amount of money that you must pay to the government according to your income, property, goods etc, that is used to pay for public services: • The President said he would cut taxes for… … Financial and business terms
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
Petroleum politics — Argentine president Néstor Kirchner and Venezuelan President Hugo Chávez discuss the Gran Gasoducto del Suran energy and trade integration project for South America. They met on November 21, 2005 in Venezuela. Petroleum politics have been an… … Wikipedia
Inland Revenue — This article is about the United Kingdom government department. For other countries, see Inland Revenue Department. The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation … Wikipedia
Inland Revenue — the branch of the administration responsible for collecting direct taxes from the citizen. The administration of the UK tax system is in the hands of two bodies, namely the Commissioners of Customs and Excise, who have jurisdiction over indirect… … Law dictionary
Dana Petroleum — Not to be confused with Dana Gas. Dana Petroleum plc Type Public (LSE: DNX) Industry En … Wikipedia