PETROLEUM RESOURCE RENT TAX ASSESSMENT REGULATIONS 2005 (REPEALED)
For Step 12 of the residual pricing method, the amount of each phase cost for a phase, for the year of tax, is taken to be:
| C × |
Phase project energy
Total phase energy |
C
is the amount of the cost before the application of this regulation.
Phase project energy
is the energy content of the project product that enters the phase in the year of tax.
Total phase energy
is the energy content of all the petroleum product that enters the phase in the year of tax.
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