Related Commentary  

6A(1)  An amount which is a tax-exempt tariffing receipt (see subsection (2) below) does not constitute a tariff receipt for the purposes of the Oil Taxation Acts.

6A(2)  An amount is a “tax-exempt tariffing receipt” for the purposes of the Oil Taxation Acts if–

(a)it would, apart from this section, be a tariff receipt of a participator in an oil field,

(b)it is received or receivable by the participator in a chargeable period ending on or after 30th June 2004 under a contract entered into on or after 9th April 2003, and

(c)it is in respect of tax-exempt business (see subsection (3) below).

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