In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Income Tax (Petroleum) Act · 2022 Revised Edition · Part · Preliminary
Income Tax (Petroleum) Act · 2022 Revised Edition · Part · Preliminary
Official textFrom Attorney General's Chambers, unchanged
This Act may be cited as the Income Tax (Petroleum) Act.
petroleum
“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
This Act applies in respect of tax chargeable for the year of assessment 1963 and each subsequent year of assessment.
year of assessment
“year of assessment” means the period of 12 months commencing on the 1st day of January 1963, and each subsequent period of 12 months.
petroleum
“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
year of assessment
“year of assessment” means the period of 12 months commencing on the 1st day of January 1963, and each subsequent period of 12 months.
Part
Part
Part
Part
Part
Part
Part
Part
Part