Home > Terms > English, UK (UE) > Petroleum revenue tax (prt)

Petroleum revenue tax (prt)

A tax levied by the UK Government on net income from petroleum production in the UK sector after deducting all costs, Royalties and certain other allowances, this tax is deductible in computing Corporation Tax.

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Oil & gas
  • Category: Oil
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