OT15820 - PRT: Tax-Exempt Tariffing Receipts

Tax-Exempt Tariffing Receipts : Definition

A tax-exempt tariffing receipt is defined in OTA83/S6A(2) as:

1. an amount that would otherwise be a tariff receipt ( OT15025) of a participator,
2. it is received or receivable by a participator in a chargeable period ending on or after 30 June 2004 under a contract entered into on or after 9 April 2003, and
3. it is in respect of tax-exempt business

Tax-exempt business

An amount is in respect of tax-exempt business if it is received or receivable by a participator for

the use of a qualifying asset ( OT15100) or the provision of services or other business facilities of whatever kind in connection with the use, other than by the participator, of a qualifying asset and the use is in relation to:

1. a new field ( OT15830) or oil won from a new field, or
2. a qualifying existing field ( OT15860) or oil won from a qualifying existing field