SCHEDULES

SCHEDULE 51Time limits for assessments, claims etc

Petroleum revenue tax

I123

1

Paragraph 2 of Schedule 5 (allowance of expenditure other than abortive exploration expenditure: claim period) is amended as follows.

2

In sub-paragraph (1), for “six years” substitute “ 4 years ”.

3

In sub-paragraph (7)—

a

in paragraph (c), for “four years” substitute “ 2 years ”, and

b

in the words after that paragraph, for “six years” substitute “ 4 years ”.